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
