Business
Issue of Equity and Total Voting Rights
Issue of Equity and Total Voting Rights.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n\n\n \n \n\n\n \n \n15 June 2023\n \n Pantheon Resources plc\nIssue of Equity and Total Voting Rights\n \nPantheon Resources plc (\"Pantheon\" or the \"Company\"), the AIM-quoted oil and gas company with 100% working interest in all of its oil projects spanning c. 193,000 acres adjacent to transportation and pipeline infrastructure on the Alaska North Slope, announces (i) an update in relation to the settlement of the Fundraise announced on 16 May 2023 and (ii) the quarterly repayment of unsecured bonds.\n \nCompletion of settlement of the Fundraise\n \nFurther to its announcement on 23 May 2023 in relation to the settlement of the Fundraise announced on 16 May 2023, the Company can now confirm the receipt of all outstanding Subscription monies. Accordingly, an application to AIM has been made for the remaining 8,783,893 new Ordinary Shares relating to the Fundraise to be admitted to trading on AIM (the \"Second Fundraise Admission\"). It is expected that the Second Fundraise Admission will take place and dealings will commence on AIM on or around 8.00 a.m. on 21 June 2023.\n \nQuarterly Bond Repayment\n \nPantheon has elected to pay (i) the quarterly principal repayment of US$2.45 million and (ii) the interest payment of US$367,500 (collectively, the \"Quarterly Repayment\") in respect of its senior unsecured convertible bonds due 2026 (the \"Convertible Bond\"), through the issuance of new shares. Pursuant to the terms of the Convertible Bond agreement a total of 15,172,320 new Ordinary Shares will be issued in settlement of this Quarterly Repayment. Application has been made to AIM for the admission to trading of the 15,172,320 new Ordinary Shares, which is also expected on 21 June 2023 (together with the Second Fundraise Admission, the \"Admissions\").\n \nAfter settlement of the Quarterly Repayment, the principal remaining under the Convertible Bond will be reduced by&n...