PANTHEON RESOURCES PLC

Share Issue/Capital Change • Feb 3, 2021

National Storage Mechanism | Additional information

RNS Number : 9139N

Pantheon Resources PLC

03 February 2021

03 February, 2021

Pantheon Resources plc

Conversion of Shares 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a 100% working interest (subject to completion of the recently announced transaction with Otto Energy Limited) in a number of oil projects adjacent to transportation and pipeline infrastructure on the Alaska North Slope, announces that CHONS LLS ("CHONS") has requested the conversion, on a one to one basis, of 14,261,949 of the 102,471,055 ordinary shares not carrying voting rights ("Non-Voting Shares") into ordinary shares carrying voting rights ("Voting Ordinary Shares") in the Company (the "Conversion"). The Conversion will be effective on Admission (as defined below). Following the Conversion and Admission (as defined below), CHONS will hold 113,383,698 Voting Ordinary Shares in the Company in issue which will represent 19.2% of the enlarged issued Voting Ordinary Shares.

The Non-Voting Shares were originally issued as part of the purchase consideration for the Great Bear Companies in January 2019 as previously announced. The Non-Voting Shares are convertible into Voting Ordinary Shares, on a one-for-one basis.

Application has been made to the London Stock Exchange for the admission to trading of the 14,261,949 new Voting Ordinary Shares resulting on the Conversion, which is expected at 8.00am on 08 February 2021 ("Admission").

The Company's enlarged issued share capital following Admission will consist of 590,776,976 Voting Ordinary Shares and 88,209,106 Non-Voting Shares. The aforementioned figure of 590,776,976 Voting Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Pantheon under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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Further information: 

Pantheon Resources plc	+44 20 7484 5361
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate Development
Canaccord Genuity plc (Nominated Adviser and broker)
Henry Fitzgerald-O'Connor, Adam James, Angelos Vlatakis	+44 20 7523 8000
Blytheweigh
Tim Blythe, Megan Ray, Alice Mclaren, Madeleine Gordon-Foxwell	+44 20 7138 3204

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