Panther Metals plc (LON: PALM) Placing and Director’s Dealing

Panther Metals plc (LON: PALM) is pleased to announce that it has raised gross proceeds of £600,000 (before expenses) via an allotment to Darren Hazelwood of 1,000,000 new ordinary shares of no par value each (“Ordinary Shares”) in the capital of the Company (“Placing Shares”) at a price of 60 pence per Placing Share (“Issue Price”) (the “Placing”). 

The Placing Shares will represent approximately 17 per cent. of the existing issued Ordinary Share capital of the Company (the “Existing Ordinary Shares”) and the Issue Price represents a discount of approximately 11 per cent. to the closing mid-market price of 67.50 pence per Existing Ordinary Share on 27 October 2025, being the latest practicable date prior to the publication of this Announcement.

Panther also intends to carry out a separate retail offer of up to 166,667 new Ordinary Shares (the “Retail Offer Shares”, and together with the Placing Shares, the “New Ordinary Shares”) at the Issue Price on the Winterflood Retail Access Platform (“WRAP”) to raise gross proceeds (before fees and expenses) of up to £100,000  (the “Retail Offer”, and together with the Placing, the “Fundraising”). The Retail Offer will provide existing retail Shareholders in the United Kingdom with an opportunity to participate in the Fundraising at the same price as the Placing. A separate announcement will be made in due course regarding the Retail Offer and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing.

Details of the Placing and issuance of Placing Shares

Hybridan LLP (“Hybridan”) is acting as placing agent in connection with the Placing.

The Company is currently unable to issue and admit the Placing Shares without either the publication of a prospectus approved by the UK Financial Conduct Authority (“FCA”) or relying upon an exemption to the requirement to issue a prospectus under the UK Prospectus Regulation.

Consequentially, the Placing involves the subscription by Darren Hazelwood, CEO and director of the Company for the Placing Shares at the Issue Price pursuant to the employee offer exemption under Article1(4)(i) and 1(5) (h) of the UK Prospectus Regulation. Following allotment of the New Ordinary Shares, Darren Hazelwood will sell the Placing Shares to certain investors allocated by Hybridan pursuant to the Placing Agreement (as defined below).

Hybridan has today entered into a placing agreement (the “Placing Agreement”) with the Company and Darren Hazelwood under which, amongst other things, Hybridan has agreed, as agent for and on behalf of the Company to use its reasonable endeavours to procure subscribers for Placing Shares, on the terms and subject to the conditions set out therein. Darren Hazelwood has further undertaken pursuant to the terms of the Placing Agreement to procure the transfer of the Placing Shares to the placees in accordance with the terms of the Placing Agreement.

Change of Adviser

The Company has today entered into a placing agreement with Hybridan pursuant to which, on Admission, Hybridan will be appointed as Sole Broker to the Company.

Expected Timetable of Principal Events

Applications have been made to the FCA and London Stock Exchange plc (“LSE”) and it is expected that the admission of the Placing Shares to listing on the equity shares (transition) category of the Official List maintained by the FCA and to trading on the main market for listed securities of the LSE will become effective on or before 8.00 a.m. on 31 October 2025 (“Admission”). The expected timetable of principal events for the Admission is set out below. All references to time in this announcement are to London time.

Darren Hazelwood, CEO, comments: “The company is now 100% focused on delivering tailings production targeted for YE 2026.   The use of proceeds will enable the company to attain a Mineral Resource Estimate at the Winston project which will underpin partner offtake discussions to enable delivery of production targeted for YE 2026.  Any future exploration work is expected to be funded from cashflows from the tailings project.”

For the purposes of UK MAR, the person who arranged for the release of this announcement was Darren Hazelwood, CEO of the Company.

Enquiries:

Director’s Dealing Notification