AI assistant
PANTHERA RESOURCES PLC Remuneration Information 2024
7834_def-14a_2024-03-04_95a91155-c8ba-4fb7-a768-1fdee154e63c.html
Remuneration Information
Open in viewerOpens in your device viewer
National Storage Mechanism | Additional information 
RNS Number : 0730F
Panthera Resources PLC
04 March 2024
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation
4 March 2024
Panthera Resources Plc
("Panthera" or the "Company")
Issue of Equity in lieu of director fees
Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, announces the issue of 1,999,257 new ordinary shares of 1p each in the capital of the Company (the "Ordinary Shares"), at an average issue price of 5.71 pence per new Ordinary Share (the "Issue Price").
The new Ordinary Shares are being issued in order to satisfy the Company's non-executive directors' accrued fees for the period between 1 July 2022 to 31 December 2023 and 50 per cent. of the Managing Director's net after-tax accrued salary for the period between 1 January 2023 to 31 October 2023 (together the "Fee Shares").
The issue of equity in order to satisfy accrued fees has been done in previous years in relation to the Company's non-executive directors. In this regard, the issue of the Fee Shares reduces the Company's cash expenditures and further aligns the interests of the Company's board of directors with the Company's shareholders. The Fee Shares were priced at the 30-day volume-weighted average price in the month preceding each respective fee period. Further details of the Fee Shares is as follows:
| Name (Title) (Description) |
PRICE PER Fee SHARE | NUMBER OF Fee SHARES ISSUED | beneficial SHARES HELD AFTER ISSUE | % HOLDING POST ISSUE |
| MICHAEL HIGGINS (Chairman) | ||||
| 100% fees Jul-Sep 2022 | £0.063 | 140,548 | ||
| 50% fees Oct-Dec 2022 | £0.056 | 77,882 | ||
| 50% fees Jan-Mar 2023 | £0.045 | 96,537 | ||
| 50% fees Apr-Jun 2023 | £0.048 | 92,099 | ||
| 50% fees Jul-Sep 2023 | £0.065 | 67,790 | ||
| 50% fees Oct-Dec 2023 | £0.099 | 44,103 | ||
| Total | 518,959 | 9,319,652 | 5.97% | |
| David Stein (Director) | ||||
| 100% fees Jul-Sep 2022 | £0.063 | 80,313 | ||
| 50% fees Oct-Dec 2022 | £0.056 | 44,504 | ||
| 50% fees Jan-Mar 2023 | £0.045 | 55,164 | ||
| 50% fees Apr-Jun 2023 | £0.048 | 52,628 | ||
| 50% fees Jul-Sep 2023 | £0.065 | 38,737 | ||
| 50% fees Oct-Dec 2023 | £0.099 | 25,202 | ||
| Total | 296,548 | 599,843 | 0.38% | |
| Catherine Apthorpe (Director) | ||||
| 50% fees Jul-Sep 2022 | £0.063 | 40,156 | ||
| 50% fees Oct-Dec 2022 | £0.056 | 44,504 | ||
| 50% fees Jan-Mar 2023 | £0.045 | 55,164 | ||
| 50% fees Apr-Jun 2023 | £0.048 | 52,628 | ||
| 50% fees Jul-Sep 2023 | £0.065 | 38,737 | ||
| 50% fees Oct-Dec 2023 | £0.099 | 25,202 | ||
| Total | 256,392 | 559,687 | 0.36% | |
| Timothy Hargreaves (Director) | ||||
| 100% fees Jul-Sep 2022 | £0.063 | 80,313 | ||
| 50% fees Oct-Dec 2022 | £0.056 | 44,504 | ||
| 50% fees Jan-Mar 2023 | £0.045 | 55,164 | ||
| 50% fees Apr-Jun 2023 | £0.048 | 52,628 | ||
| 50% fees Jul-Sep 2023 | £0.065 | 38,737 | ||
| 50% fees Oct-Dec 2023 | £0.099 | 25,202 | ||
| Total | 296,548 | 2,644,237 | 1.69% | |
| Mark Bolton (Managing Director) | ||||
| 50% net salary Jan 2023 | £0.045 | 74,261 | ||
| 50% net salary Feb 2023 | £0.043 | 78,647 | ||
| 50% net salary Mar 2023 | £0.044 | 77,105 | ||
| 50% net salary Apr 2023 | £0.048 | 70,847 | ||
| 50% net salary May 2023 | £0.041 | 81,981 | ||
| 50% net salary Jun 2023 | £0.049 | 69,312 | ||
| 50% net salary Jul 2023 | £0.065 | 52,147 | ||
| 50% net salary Aug 2023 | £0.072 | 47,002 | ||
| 50% net salary Sep 2023 | £0.073 | 45,950 | ||
| 50% net salary Oct 2023 | £0.099 | 33,558 | ||
| Total | 630,810 | 1,582,810 | 1.01% | |
| Grand Total | 1,999,257 |
Application for Admission
Application has been made for the 1,999,257 Fee Shares to be admitted to trading on AIM, which is expected to take effect on or around 8 March 2024 ("Admission").
Following Admission, the Company's issued share capital will comprise 175,988,340 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure 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, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Contacts
Panthera Resources PLC
Mark Bolton (Managing Director) +61 411 220 942
Allenby Capital Limited (Nominated Adviser & Joint Broker) +44 (0) 20 3328 5656
John Depasquale / Vivek Bhardwaj (Corporate Finance)
Guy McDougall / Kelly Gardiner (Sales & Corporate Broking)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400
Colin Rowbury
Subscribe for Regular Updates
Follow the Company on Twitter at @PantheraPLC
For more information and to subscribe to updates visit: pantheraresources.com
Forward-looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
PDMRs:
| Michael Higgins | Non-Executive Chairman |
| Catherine Apthorpe | Non-Executive Director |
| David Stein | Non-Executive Director |
| Timothy Hargreaves | Non-Executive Director |
| Mark Bolton | Managing Director |
2.
Reason for the Notification
a)
Position/status
See 1a) above
b)
Initial notification/Amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Panthera Resources Plc
b)
LEI
213800IB98EG6736XN82
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Ordinary shares of 1p each in Panthera Resources Plc
Identification code
ISIN: GB00BD2B4L05
b)
Nature of the transaction
Fee shares
c)
Price(s) and volume(s)
| Name | Price(s) | Volume(s) |
| Michael Higgins | £0.059012 | 518,959 |
| Catherine Apthorpe | £0.058504 | 256,392 |
| David Stein | £0.059012 | 296,548 |
| Timothy Hargreaves | £0.059012 | 296,548 |
| Mark Bolton | £0.053294 | 630,810 |
d)
Aggregated information:
- Aggregated volume
1,999,257
- Price
£0.05714
e)
Date of the transaction
1 March 2024
f)
Place of the transaction
Outside a trading venue
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
IOEQKDBBKBKKFNK