Pantheon Resources PLC Announces Quarterly Repayment of Unsecured Convertible Bonds
LONDON, GB / ACCESS Newswire / March 17, 2025 / Pantheon Resources plc ('Pantheon' or the 'Company'), the AIM-quoted oil and gas company with 100% working interests in certain projects located adjacent to transportation and pipeline infrastructure on the Alaska North Slope, announces that it has elected to pay (i) the quarterly principal repayment of US$2.45 million and (ii) the quarterly interest payment of US$0.147 million (collectively, the 'Quarterly Repayment') in respect of its senior unsecured convertible bonds issued in December 2021 to a fund advised by Heights Capital Ireland LLC, and due June 2026 (the 'Convertible Bonds'), through the issuance of new shares. Pursuant to the terms of the Convertible Bond agreement a total of 3,629,122new ordinary shares (the 'New Ordinary Shares') will be issued in full settlement of this Quarterly Repayment. Application is being made to AIM for the admission to trading of the 3,629,122New Ordinary Shares which are expected to admit on or around 20th March 2025 ('Admission').
After settlement of the Quarterly Repayment, the principal remaining under the Convertible Bond will be reduced by US$2.45 million to US$12.25 million.
Total Voting Rights
Immediately following Admission, the Company's enlarged issued share capital admitted to trading on AIM will consist of 1,142,998,513 ordinary shares, with each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The total voting rights figure of 1,142,998,513 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
-ENDS-
Further information:
UK Corporate and Investor Relations Contact
Pantheon Resources plc
Justin Hondris
[email protected]
Nominated Adviser and Broker
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor, James Asensio, Charlie Hammond
+44 20 7523 8000
Public Relations Contact
BlytheRay
Tim Blythe, Megan Ray, Matthew Bowld
+44 20 7138 3204
USA Investor Relations Contact
MZ Group
Lucas Zimmerman, Ian Scargill
+1 949 259 4987
[email protected]
IMPORTANT INFORMATION
This Announcement is released by Pantheon Resources plc and contains inside information for the purposes of Article 7 of UK MAR. It is disclosed in accordance with the Group's obligations under Article 17 of UK MAR.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.
[email protected] or visit www.rns.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
America's biggest lender is closing its wallet — and investors and home buyers will feel it. Here's what to watch.
Over the past 40 years, Japan has helped bankroll Americans' lifestyle while its own economy sank into decades of stagnation. Now the tab's due, and it might cost the U.S. a fortune. The Japanese have been floating America's boat since the mid-1980s. Not out of kindness. Not out of stupidity. But because of a deal so sweet that nobody wanted to talk about it. 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. I help my elderly mother every day and drive her to appointments. Can I recoup my costs from her estate? 'The situation is extreme': I'm 65 and leaving my estate to only one grandchild. Can the others contest my will? My new husband gave me a contract and told me to 'sign here' — but I refused. It was the best decision of my life. My daughter's boyfriend, a guest in my home, offered to powerwash part of my house — then demanded money Now the deal's going bad. Japan's drowning in debt, its politics are in chaos and it needs its money back. And when your biggest lender starts heading for the exits, it's time to pay attention. Japan holds $1.1 trillion in U.S. Treasury bonds. It's got more U.S. paper than any other country. But unlike China — the second-largest Treasury holders — Japan has never complained about it. Japan just kept buying, kept lending, kept quiet. But here's the thing about quiet money — when it stops being quiet, you've got problems. Look at Japan today: government debt at 235% of GDP — that's like owing your annual salary times 2.3 to Visa. Prime Minister Shigeru Ishiba hanging on to power like a cat on a screen door, with 21% approval after a series of fundraising scandals and economic missteps. You know what happens when your biggest lender is both broke and paralyzed? America's reliable ATM is about to display 'INSUFFICIENT FUNDS.' Picture this: 1945. World War II is over. America's got the guns, Japan's got the ruins. The U.S. cut a deal — military protection for economic cooperation. But the real magic trick came later. For the next 40 years, Japan rebuilt itself, accumulating dollars and using them for its own development. Japan went from making tin toys to Toyotas JP:7203 TM, from cheap radios to world-class electronics. By 1985, they'd completed their first miracle. Then came the second act. The Plaza Accord of 1985 — five finance ministers in a New York hotel room deciding to dismantle Japan's export machine. Japan signed on too, thinking they could manage it. They couldn't. The yen USDJPY shot up 50% against the U.S. dollar DXY in two years. Japan faced a choice: Watch its economic miracle turn into a pumpkin, or get creative. They got creative. Instead of converting their mountain of trade-surplus dollars to yen (which would have pushed the yen even higher), the Japanese did something beautiful. They started buying U.S. Treasury bonds. Mountains of them. It was perfect. The U.S. got to keep borrowing. Japan got to keep exporting. Nobody had to mention that the whole thing was a shell game. As economists have long warned, this recycling machine couldn't last forever. But that's a problem for the next guy. For the next 40 years — from 1985 to now — this recycling machine has been running nonstop. Japan made our Walkmans (Google it, kids), Americans would buy them with dollars, and then — here's the beautiful part — Japan would loan those dollars back to the U.S. by purchasing Treasury bonds. It's like paying your bartender with an IOU, then having him loan you money to keep drinking. Genius! Three major shifts are killing this arrangement, and they're all happening at once. First, demographics. Japan's aging population needs those savings for retirement, not for subsidizing American consumption. Turns out, elderly Japanese people prefer eating actual food to dining on Treasury bonds. Read: Why America's aging population will be a problem for stocks — and your retirement Second, debt. At 235% of GDP, Japan's government debt makes America's national debt look positively prudent, like comparing a shopaholic to someone who merely forgot to cancel their gym membership. As Japan's bond rates rise, the math becomes more impossible than explaining cryptocurrency to your grandmother. Third, politics. Prime Minister Ishiba's government hangs by a thread, with 21% approval after a series of fundraising scandals and economic missteps. You can't run a corner store with 21% approval, let alone a country. Adding to the pressure, there's declining demand for Japanese government bonds domestically. This forces Japan to raise interest rates, which in turn makes holding U.S. Treasurys even less attractive. When your own bonds can't find buyers, it's hard to justify buying someone else's. Enter Masayoshi Son, the SoftBank JP:9984 SFTBY billionaire who's become President Donald Trump's favorite Japanese dealmaker. He pledged $100 billion in U.S. investments in December, but that was just the warm-up act. Son doesn't look like a financial revolutionary. He looks more like your accountant's fun uncle. But this billionaire who makes Elon Musk look risk-averse has reportedly floated an idea more radical than Trump's Gaza resort plan: transform Japan's passive Treasury holdings into active investments in American companies through a joint sovereign wealth fund. According to financial press reports, this would mean converting government bonds into equity stakes in U.S. technology, infrastructure and energy projects. Picture this: Instead of Japan parking $1 trillion in government bonds yielding less than a savings account at the Bank of Mattress, this money would flow into U.S. technology, infrastructure and energy projects. Both nations would share the profits. Americans might even be able to buy shares, receiving dividends from Japanese investment in the U.S. economy. Of course, converting $1 trillion in bonds to equity investments would be fraught with risks — currency fluctuations, market volatility and political backlash on both sides of the Pacific. U.S. Treasury Secretary Scott Bessent would face a delicate task in making this transition without triggering a bond-market crisis — kind of like defusing a bomb while riding a unicycle. If Japan simply dumped its Treasury holdings, interest rates would spike faster than blood pressure at a tax audit. Time to panic? Not yet. But keep your running shoes handy. The immediate risks are clear: But the opportunity is equally significant. A U.S.-Japan investment fund could: This isn't just about financial engineering — though let's be honest, financial engineering is sexier than it sounds, like accounting's dangerous cousin who rides a motorcycle. It's about whether America can maintain access to foreign capital while reducing its debt dependence, kind of like keeping your rich friends while learning to pay for your own drinks. For 40 years, the U.S. has run its economy on other nations' savings like a teenager with Dad's credit card. That model is more exhausted than a parent of triplets. Critics will call this government interference in free markets. But free markets in international finance have always been about as real as professional wrestling — entertaining, but heavily choreographed. Every major economy practices industrial policy; America just outsourced its policy to allies and called it 'free trade.' Now the U.S. is bringing it home like a college kid with dirty laundry. Read: Why Trump's tax and spending bill isn't getting the bond market's vote Japan's quiet subsidy of American prosperity is ending. The U.S. Federal Reserve can't print its way out of this one — they've tried that trick more times than a birthday party magician. Congress can't tax its way out either, though God knows they'll probably try. The only path forward is a new bargain that transforms debt into equity, dependence into partnership. For American investors and homeowners, the message is crystal clear: The era of cheap money is over. Lock in fixed-rate mortgages while you can. Prepare for higher interest rates. And watch for announcements of new investment vehicles that could reshape global finance. The greatest risk isn't change — it's pretending the old system can continue. Japan's bondholders are already voting with their wallets. The only question is whether Washington can engineer an economic soft landing for the U.S. or whether the country is headed for the kind of turbulence that has flight attendants reaching for their own oxygen masks. Here's what to watch as these transitions unfold: For 40 years, Americans' have been drinking champagne on Japan's tab. Now it's closing time and they want to be paid in something besides IOUs. Welcome to the morning after. . More: Jamie Dimon's bond-market warnings put investors on alert to diversify outside U.S. Also read: The 'mother of all credit squeezes' is coming — hang on to your wallet 'I'm not wildly wealthy, but I've done well': I'm 79 and have $3 million in assets. Should I set up 529 plans for my grandkids? How do I make sure my son-in-law doesn't get his hands on my daughter's inheritance? Circle's stock is having another big day. What the blockbuster IPO has meant for other cryptocurrency plays. The S&P 500 closes at 6,000 as bulls aim for return to record territory 'I was pushed out of her life when she was 18': My estranged daughter, 29, misuses drugs. Should I leave her my Roth IRA? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
US Trade Team Said to Extend India Stay as Talks Gather Momentum
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. Next Stop: Rancho Cucamonga! Where Public Transit Systems Are Bouncing Back Around the World ICE Moves to DNA-Test Families Targeted for Deportation with New Contract US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Trump Said He Fired the National Portrait Gallery Director. She's Still There. A US trade team that's currently in India for negotiations has extended its stay, according to people familiar with the matter, in a sign talks are progressing ahead of a July deadline. The team, which was initially scheduled to hold talks with Indian officials on June 5-6, will now be staying till Tuesday to continue discussions, the people said, asking not to be identified because the information isn't public. Most of the issues may get finalized within a week, the people estimated. India and the US are working on a phased trade deal with an early agreement targeted for July, the deadline for implementation of the so-called reciprocal tariffs. At the same time, those tariffs are facing legal challenges in Washington. India's Commerce Ministry and the US Trade Representative's office in Washington didn't respond to email requests for comment outside of regular business hours. Local Indian media earlier reported the extension of the visit. Indian Commerce Minister Piyush Goyal described his meeting with US counterpart Howard Lutnick during a visit to the US in May as 'constructive.' Earlier this month, Lutnick said he's 'very optimistic' about prospects for a trade deal between the US and India 'in the not-too-distant future.' India was one of the first countries to begin negotiating a trade deal with the US, hoping to avert President Donald Trump's reciprocal tariffs, which are scheduled to kick in on July 9. --With assistance from P R Sanjai. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Is Elon Musk's Political Capital Spent? What Does Musk-Trump Split Mean for a 'Big, Beautiful Bill'? Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P.
Yahoo
5 hours ago
- Yahoo
UK will handle US security concerns over new Chinese embassy plan, says Kyle
Security issues over plans for a Chinese embassy near London's financial centres will be 'taken care of assiduously', a minister said after the White House warned Downing Street against allowing the project to go ahead. Technology Secretary Peter Kyle indicated the UK would offer a 'fulsome response' to any concerns raised by allies amid suggestions that US opposition could undermine transatlantic trade negotiations. Mr Kyle sought to reassure the public that the Government deals with similar 'infrastructure issues' relating to embassies 'all the time'. 'These issues will be taken care of assiduously in the planning process,' he told Sky News's Sunday Morning With Trevor Phillips programme. He added: 'These are the issues that we talk about as two countries all the time… we're in the Five Eyes agreement, America and Britain share intelligence… If people raise security issues even though it relates to planning, then I'm sure we will have a fulsome response for them. 'But look, the key thing is these are issues which are quite routinised in the way that we deal with the security of our country.' A senior US official had told the Sunday Times: 'The United States is deeply concerned about providing China with potential access to the sensitive communications of one of our closest allies.' The matter is believed to have been discussed during US-UK trade talks, with diplomats saying the Trump administration would have reservations about intelligence sharing with the UK if the building went ahead. More than a thousand demonstrators gathered earlier this year for a rally against the proposed Chinese 'super-embassy' because of concerns about its potential proximity to Canary Wharf and the City of London. The redevelopment plans at the former site of the Royal Mint were 'called in' last year, which means the Government will make the final decision following a report from the Planning Inspectorate. The plan was initially refused by Tower Hamlets Council in 2022.
