Last checked at 20 Sep 2022 07:00
20 September 2022
Pantheon Resources plc
Director/PDMR Notification
Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope announces the following Director/PDMR notifications:
· Following the exercise of share options, Jay Cheatham, a Director and PDMR of the Company, has sold 1,300,000 shares at an average price of £1.234 per share. Following the completion of the exercise and sale, his ultimate beneficial ownership is unchanged and remains at 3,529,464 shares representing 0.5% of the Company's total voting rights.
· Following the exercise of share options, Justin Hondris, a Director and PDMR of the Company, has sold 2,000,000 shares at an average price of £1.234 per share. Following the completion of the exercise and sale, his ultimate beneficial ownership is unchanged and remains at 1,491,812 shares representing 0.2% of the Company's total voting rights.
· Following the exercise of share options, Robert Rosenthal, a Director and PDMR of the Company, has sold 900,000 shares at an average price of £1.234 per share. Following the completion of the exercise and sale a, his ultimate direct beneficial ownership is unchanged and remains at 647,622 shares representing 0.1% of the Company's total voting rights. Mr Rosenthal also holds an indirect interest through an approximate 2.8% interest in Ursa Major Holdings LLC ("UMH"). UMH has a beneficial interest in approximately 19.8 million ordinary shares. Mr Rosenthal's interest in the shares held by UMH is variable based on the distribution mechanisms established by the limited liability company agreements of UMH and its subsidiaries. This interest changes with fluctuations of exchange rates, the Company's share price and other factors.
The issue of new ordinary share pursuant to the above exercise of share options has been made under the Company's existing block listing entitlement as announced on 18 May 2022.
This announcement, including the notification below, is made in accordance with the requirements of the EU Market Abuse Regulation.
Details of the transaction are reported in the PDMR Notification below.
Phillip Gobe, Chairman, said: "Today's announcement represents only the second occasion since the Company's IPO in 2006 that any director has sold shares in the Company. The shares sold today resulted from the exercise of share options and have not changed the underlying holdings of shares for any of our directors. As previously announced, Pantheon is presently preparing for an extended period of flow testing, expected to commence next month and has the possibility of triggering a prolonged 'closed period' for director dealing. Myself and my board remain as excited as ever about the potential of Pantheon."
Further information:
Pantheon Resources plc | +44 20 7484 5361 |
Jay Cheatham, CEO |
|
Justin Hondris, Director, Finance and Corporate Development |
|
Canaccord Genuity plc (Nominated Adviser and broker) |
|
Henry Fitzgerald-O'Connor, James Asensio, Gordon Hamilton | +44 20 7523 8000 |
BlytheRay |
|
Tim Blythe, Megan Ray, Madeleine Gordon-Foxwell | +44 20 7138 3204 |
Notes to Editors
Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable. A major differentiator to other ANS projects is its close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and much quicker development times. The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective conventional assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs materially below that of offshore wells.
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) incorporated into, or forms part of, this announcement. The information contained within this announcement is considered to be inside information prior to its release.
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | John Cheatham |
2 | Reason for the notification | |
a) | Position / status | Managing Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument | Ordinary Shares |
Identification code | GB00B125SX82 | |
b) | Nature of the transaction | exercise of share options |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 1,300,000 @ £0.30 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 16 September 2022 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | John Cheatham |
2 | Reason for the notification | |
a) | Position / status | Managing Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument | Ordinary Shares |
Identification code | GB00B125SX82 | |
b) | Nature of the transaction | Sale of shares following the exercise of share options |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 1,300,000 @ £1.234 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 16 September 2022 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Justin Hondris |
2 | Reason for the notification | |
a) | Position / status | Finance Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument | Ordinary Shares |
Identification code | GB00B125SX82 | |
b) | Nature of the transaction | exercise of share options |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 2,000,000 @ £0.30 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 16 September 2022 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Justin Hondris |
2 | Reason for the notification | |
a) | Position / status | Finance Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument | Ordinary Shares |
Identification code | GB00B125SX82 | |
b) | Nature of the transaction | Sale of shares following the exercise of share options |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 2,000,000 @ £1.234 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 16 September 2022 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Robert Rosenthal |
2 | Reason for the notification | |
a) | Position / status | Technical Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument | Ordinary Shares |
Identification code | GB00B125SX82 | |
b) | Nature of the transaction | exercise of share options |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 900,000 @ £0.27 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 16 September 2022 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Robert Rosenthal |
2 | Reason for the notification | |
a) | Position / status | Technical Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument | Ordinary Shares |
Identification code | GB00B125SX82 | |
b) | Nature of the transaction | Sale of shares following the exercise of share options |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 900,000 @ £1.234 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 16 September 2022 |
-Ends-