Last checked at 22 Mar 2023 17:09
22 March, 2023
Pantheon Resources plc
Result of AGM
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 spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope, is pleased to announce that at the Annual General Meeting, reconvened today, all resolutions were duly passed. A breakdown of the votes are provided below:
Ordinary Resolutions | For | % | Against | % |
1. To receive and adopt the Company's annual accounts for the financial year ended 30 June 2022 together with the directors' reports and the auditors'' report on those accounts. | 189,065,217 | 96.7 | 6,509,782 | 3.3 |
2. To re-elect Robert Rosenthal as a director of the Company. | 192,586,715 | 98.4 | 3,095,208 | 1.6 |
3. To re-appoint PKF Littlejohn LLP as auditors and to authorise the directors to determine their remuneration. | 186,584,077 | 95.4 | 9,079,314 | 4.6 |
4. To authorise the directors to allot relevant securities pursuant to Section 551 of the Companies Act 2006. | 184,620,133 | 94.4 | 10,962,352 | 5.6 |
Special Resolution |
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5. To authorise the directors to allot equity securities pursuant to Section 570 of the Companies Act 2006. | 152,201,723 | 77.9 | 43,201,074 | 22.1 |
The Board has noted that the votes cast against resolution 5 (22.1%) were slightly greater than 20% of those exercised in total by the Company's shareholders. The Board engages with shareholders on an ongoing basis and reflects carefully upon the feedback received. The Board will continue to engage with shareholders during the coming year.
-ENDS-
Further information, please contact:
Pantheon Resources plc | +44 20 7484 5361 |
Jay Cheatham, CEO | |
Justin Hondris, Director, Finance and Corporate Development | |
Canaccord Genuity Limited (Nominated Adviser and broker) | |
Henry Fitzgerald-O'Connor James Asensio Gordon Hamilton | +44 20 7523 8000
|
BlytheRay | |
Tim Blythe, Megan Ray, Matthew Bowld | +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.