Business
Exercise of Options and Issue of Equity
Exercise of Options and Issue of Equity.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n \n \n 10\n June 2022\n \n \n \n \n \n \n Panthera Resources Plc\n \n \n \n (Panthera or the Company)\n \n \n \n \n \n \n Kalaka Joint Venture Issue of Shares\n \n \n \n \n Exercise of Options\n \n \n \n \n Issue of Shares in Lieu of Director Fees\n \n \n \n \n \n \n Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce the issue of shares in respect to the Kalaka Joint Venture, exercise of options and the issue of equity to directors in lieu of fees.\n \n \n \n \n \n \n Kalaka Joint Venture\n \n \n \n \n \n \n The Company has issued 247,830 new ordinary Panthera shares at a deemed price of 12p, to the joint venture partner in the Kalaka project. The issue of the shares is in lieu of US$40,000 in option fees payable to the joint venture partner.\n \n \n \n \n \n \n Exercise of Options\n \n \n \n \n \n \n The Company has issued 609,375 new ordinary Panthera shares following the exercise of 609,375 options at AUD$0.05 each for gross proceeds of AUD$30,469 (est. £17,500), including the exercise of 375,000 options by an entity associated with Mr Mike Higgins, the Chairman of the Company. \n \n \n \n \n \n \n Shares in Lieu of Directors' Fees\n \n \n \n \n \n \n Pursuant to an agreement between the Company and its Directors, the Company has issued 265,607 new ordinary Panthera shares in lieu of Directors' fees. These shares represent the payment for 50% of the Directors' fees incurred by the Company during the period beginning 1 January 2021 and ending 30 June 2022 with the objective of reducing the Company's cash expenditures. The shares were priced at the 30-day VWAP in the month preceding each respective fee period. Details of the shares issued to Directors is as follows:\n \n \n \n \n \n \n \n \n \n \n Name (Title)\n \n \n \n \n (Description)\n \n \n \n \n \n \n PRICE PER SHARE\n \n \n \n \n \n \n NUMBER OF SHARES ISSUED\n \n \n \n \n \n \n beneficial SHARES HELD AFTER ISSUE\n \n \n \n \n \n \n % HOLDING POST ISSUE\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Michael Higgins (Chairman)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ...