Pantheon Resources PLC Result of AGM (9174T)

TIDMPANR

RNS Number : 9174T

Pantheon Resources PLC

22 March 2023

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 
                                           ------------  ----  -----------  ---- 
   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.

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END

RAGUURBROWUOUAR

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March 22, 2023 13:09 ET (17:09 GMT)

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