Results for the Year Ended 31 December 2017

31 May 2018

PANTHER METALS PLC
(“Panther Metals”, the “Company” or the “Group”)

Audited Results for the Year Ended 31 December 2017

CHAIRMAN’S STATEMENT

I am pleased to present the Group’s audited financial results for the year ended 31 December 2017. With no operating business as yet, the Group made a consolidated pre-tax loss for the year of £133,747 (2016: £113,438). The parent company loss for the year amounted to £133,640 (2016: £112,944). Cash at bank at the end of December 2017 was £62,000 (2016: £82,633). Our net assets stood at £44,882 (2016: £178,629) as at 31 December 2017.

For the financial year ended 2017, the Company remained quoted on the NEX Exchange Growth Market in London, as an investment vehicle seeking to identify and secure potential acquisition opportunities within the agriculture sector, primarily in oil palm plantations (upstream and downstream) and also vacant land suitable for oil palm cultivation.

On 9 March 2018, the Company at its Annual General Meeting received approval from shareholders’ to change its name to Panther Metals PLC from London Nusantara Plantations plc.

Principal Activities and Review of the Business

The principal activity of the Company was to invest in companies, or assets, in the agriculture sector primarily in oil palm plantations and/or vacant land suitable for oil palm cultivation. The Company has continued this activity since listing on the NEX Exchange Growth Market in June 2014. During the financial year, the Company entered into a Share Sale Agreement (“SSA”), dated 29 May 2017, to dispose of its investment in Next Oasis Sdn Bhd for RM683,000 (£124,066). The sale averaged a return of 8.1% (before capital gains tax) which is an above average return on capital asset disposals.

During the financial year the Company expanded its investment horizon to include Indonesia as the rebound in palm oil prices resulted in an increase in capital values of estates in Malaysia. Capital raising from conventional bank borrowings and equity placements had proved difficult for the sector. For the remainder of the financial year, a number of investments were explored including entering into collaboration with parties who have aligned interest with the Company to jointly invest in palm oil mills and estates in Sumatera, Indonesia, none of which were successful.

The Board has been on a capital raise exercise throughout 2017 to re-capitalise the company’s balance sheet. The challenges faced were numerous, as the equity markets in Asia and London were more bullish on other sectors, whilst most private funds were diverted to shorter term investments for quicker returns.

In late 2017, the Board decided to explore a different path of capital raising by considering a change in investing policy. The sectors considered were Consumer, IT, Renewable Energy and Natural Resources. On 9 March 2018, the Company held its Annual General Meeting to approve the recapitalisation of the Company, by way of a fundraising for £300,000 and also a change of investing policy from the agriculture sector to the natural resources sector. The approval included a name change of the Company to Panther Metals PLC to reflect the new investing policy.

Financial Review

The audited results for the year show a loss of £133,747. About 40% of the Company’s primary expenses are largely to maintain its quoted status, and professional fees. The other expenses are related to business development and due diligence fees, incurred in assessing potential investment targets, directors’ fees and general overheads. The Group recorded a foreign exchange loss of £1,060 compared to the gain in 2016 of £26,668. The disposal of the investment in Next Oasis realised a gain of £12,294 (before capital gains tax). Other income of £2,527 was from interest received from treasury fund placements. The cash position as at 31 December 2017 stood at £62,000. As noted above, the Group disposed its interest in Next Oasis Sdn Bhd and the company is expected to undertake a capitalisation exercise in 2018 in order to continue maintaining its listing status.

The Directors do not recommend the payment of a dividend.

The Directors consider the results for the year to be satisfactory despite the adverse conditions faced during the year 2017.

Industry Outlook 2018

Since adopting a change in investing policy to the natural resources sector, the outlook for 2018 will be based on the new investing policy adopted by the Company.

Strong financial performance from the commodity sector industry leaders has continued to be witnessed across the commodity sector into 2018, seeing record cash balances, this combined with a softening of some historic ore reserves provides the platform for Panther Metals to execute a value adding business model.

The company has a broad network of experience, expertise and knowledge enabling the business to focus on the execution of an opportunity open to the business due to the industry not yet feeding the income levels from existing operations down through the sector.

With output from the worlds Gold mines due to peak in 2019 and forecast production witnessing a steady decline through too 2025, combined with Gold discovery's dropping by 85% across the globe over the last 10 years, this highlights the opportunity available. The business focus isn't fixed on one commodity; however this example gives a clear understanding of the factors affecting the sector.

Exploration has been in a down cycle for a number of years, we have witnessed a gradual, but small, upturn in the sector over the last 12 months, backed by the cash positions of the sector leaders, and a requirement to replace existing ore, combined with Panther Metals extensive network, we believe the continued upturn provides us with a robust and exciting business model to take advantage of the continued uptrend.

Panther Metals will continue to explore its extensive network that has already thrown up some very exciting possibilities, communicate with its shareholders, and inform the market as we begin to formally deliver on our business model.

Darren Hazelwood
Director

30 May 2018

The Directors of the Company accept responsibility for the contents of this announcement.

For further information please contact:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2017

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2017

The financial statements of Panther Metals plc, registered number 009753V (Isle of Man), were approved by the board of directors and authorised for issue on 30 May 2018. They were signed on its behalf by:

M Subramaniam
Director

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2017

The financial statements of Panther Metals plc, registered number 009753V (Isle of Man), were approved by the board of directors and authorised for issue on 30 May 2018.  They were signed on its behalf by:

M Subramaniam
Director

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2017

COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2017

STATEMENTS OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2017