(Alliance News) - Gold exploration company Panthera Resources PLC said on Thursday that it has restructured its financing agreement with Republic Investment Management Pte Ltd into two parts.
Earlier in August, Panthera said it would receive an immediate capital injection of GBP500,000 by issuing Republic 5.0 million shares at 10.00 pence each.
On Thursday however, the company said 3.7 million shares will be admitted to trading on August 29 with the remaining 1.3 million expected to be admitted on September 6.
As part of the Republic financing, Panthera's Non-Executive Director Timothy Hargreaves on Wednesday subscribed for 500,000 shares in the company at 10.00p each, GBP50,000 altogether.
The company said that in early January, Hargreaves also purchased 500,000 shares at an average price of 2.87 pence each.
Following the transactions, Hargreaves owns 1.5 million Panthera shares, representing 2.1% of the company issued shares.
Shares in Panthera were up 8.2% at 8.25p each in London on Thursday afternoon.
Panthera Res. (PAT)