Pantheon Resources plc (AIM: PANR / OTCQX: PTHRF), the oil and gas company developing the Kodiak and Ahpun fields on Alaska's North Slope, has announced the issuance of 548,073 ordinary shares in satisfaction of a conditional award made to a former employee under a settlement agreement. The company expects admission of these shares to trading on AIM at 8.00 a.m. London time on or around 6 November 2026. Following admission, Pantheon's total issued share capital will stand at 1,458,450,520 ordinary shares, each carrying one vote. The update also covers the company's block listing interim returns for the six-month period from 1 May 2026 to 31 October 2026.

Key Points

  • Pantheon Resources plc (AIM: PANR / OTCQX: PTHRF)
  • 548,073 ordinary shares to be issued in satisfaction of a former employee's conditional settlement award, with AIM admission expected on or around 6 November 2026
  • Total issued share capital following admission: 1,458,450,520 ordinary shares; no shares held in treasury
  • Investors should monitor further share issuances under the Employee Stock Ownership Plan 2024 and the 2009 Discretionary Share Option Plan, both of which retain unissued balances

548,073 Shares Issued to Settle Former Employee Conditional Award Ahead of 6 November AIM Admission

Pantheon Resources has confirmed it will issue 548,073 ordinary shares of £0.01 each to satisfy a conditional award granted to a former employee pursuant to the terms of that individual's settlement agreement. An application has been made to the London Stock Exchange for the admission of these shares to trading on AIM, with admission expected at 8.00 a.m. London time on or around 6 November 2026. The company states it holds no ordinary shares in treasury, meaning the entire post-admission figure of 1,458,450,520 shares represents the full voting rights denominator for shareholder notification purposes under the Disclosure Guidance and Transparency Rules.

Block Listing Returns Show No New Issuances Under ESOP 2024 or the 2009 Discretionary Share Option Plan

Pantheon's interim block listing update covers the period from 1 May 2026 to 31 October 2026 across two schemes. Under the Employee Stock Ownership Plan 2024, the balance of unissued ordinary shares remains at 13,740,673, unchanged from the start of the period, with no new block listing applications made and no securities issued during the six months. Similarly, the 2009 Discretionary Share Option Plan, updated July 2020, retains a balance of 23,930,000 unissued ordinary shares, again with no new applications or issuances recorded during the period. Both schemes continue to carry meaningful unissued balances that could affect future dilution.

Pantheon's 1.6 Billion Barrel North Slope Portfolio Underpins the Context for Share Capital Management

Pantheon Resources holds a 100% working interest in approximately 259,000 acres on State of Alaska land on the North Slope, encompassing its Kodiak and Ahpun oil fields. Independently certified best-estimate contingent recoverable resources across both projects total approximately 1.6 billion barrels of Alaska North Slope crude and 6.6 trillion cubic feet of associated natural gas. Resource estimates have been provided by Netherland, Sewell & Associates for Kodiak, Cawley Gillespie & Associates for Ahpun's western topset horizons, and Lee Keeling & Associates for additional Ahpun resources. Investors may note that share capital decisions occur against the backdrop of a capital-intensive development-stage asset base with no disclosed revenue figures in this announcement.