Business
Equity Financing Update
Equity Financing Update.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n\n27 June 2024\n \nPanthera Resources Plc\n(\"Panthera\" or the \"Company\")\n \nEquity Financing Update\n \nGold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, provides the following update in respect of the Company's equity financing as announced on 17 June 2024 (the \"Equity Financing\").\n \nThe Company previously announced that it expected that the 18,906,786 new Ordinary Shares will be admitted to trading on AIM on or around 28 June 2024.\n \nSubsequently, commitments have been adjusted with an increase of 76,798 new Ordinary Shares on the same terms as that announced on 17 June 2024. Accordingly, in aggregate, 18,983,584 new Ordinary Shares are anticipated to be issued as part of the Equity Financing.\n \nSplit admission\n \nWhile the Company has received commitments in relation to 18,983,584 new Ordinary Shares pursuant to the Equity Financing, because of settlement delays associated with 1,818,182 new Ordinary Shares, the Company will complete the admission into two tranches.\n \nAccordingly, it is now anticipated that 17,165,402 new Ordinary Shares representing approximately £0.94 million (the \"First Tranche\") will admit to trading on AIM on or around 28 June 2024 (\"First Admission\"). The remaining 1,818,182 new Ordinary Shares representing approximately £0.1 million (the \"Second Tranche\") will admit to trading on AIM on or around 3 July 2024 (\"Second Admission\").\n \nBroker Options\n \nIn addition, the Company has agreed to issue an additional 217,197 unlisted certificated options to advisors to the equity issue, exercisable at a price of 5.5 pence on or before two years from the date of Admission (as defined below) with each option entitling the holder to acquire one new Ordinary Share. Accordingly, taking into account the 758,181 unlisted certificated options announced on 17 June 2024, a total of 975,378 unlisted certificated options will be issued as part of the Equity Financing.\n \nAdmission and Total Voting Rights\n \nApplication has been made to the London Stock Exchange plc for the 17,165,402 new Ordinary Shares to be admitted to trading on AIM. It is currently anticipated that First Admission will become effective and that dealings in the new Ordinary Shares will c...