PANTHER METALS PLC
(“Panther” or the “Company”)
(Incorporated in the Isle of Man with company number 009753V)
8 November 2021
Proposed Listing on the ASX-Update
- Panther Metals Limited (“PML”), the Australian subsidiary of Panther Metals plc confirms today that it is expecting to list on the Australian Securities Exchange (“ASX”) on the 10 December 2021, following an initial public offering (“IPO”) to raise A$5,000,000 following the issue of 25,000,000 ordinary shares in PML (the “Offer”). The fundraise is being supported by Sanlam Private Wealth Pty Ltd and Kerr Allan Financial Pty Ltd as joint lead managers.
- As a result of this fundraise Panther Metals plc will be diluted to 36.6% of PML, which will have 54,625,001 (undiluted) shares in issue following the IPO. The opening date of the Offer is 8 November 2021 and the closing date of the Offer is 22 November 2021; the issue of shares under the Offer is expected to occur on 26 November 2021.
Shareholders are referred to the Panther Metals Limited website for more information: http://www.panthermetals.com.au
Darren Hazelwood, Chief Executive Officer, commented:
- “Providing the working capital to develop the exciting portfolio held in Australia by Panther Metals Limited is the key aim of the process to listing the business on the ASX. Achieving this goal is now within sight. The world class expertise and network provided by the board in Australia gives Panther Metals plc a great foundation for building value via its equity stake in the ASX listed vehicle at no extra capital cost to its shareholders.
- Our corporate strategy of building underlying value within the business while managing the risk/reward profile, that is the foundation of exploration, is being defined in this transaction. Having a liquid asset on our balance sheet with untapped growth potential focused on nickel and gold that on listing will exceed in value the total amount ever raised in capital by Panther Metals plc shows the strength of the company in identifying and executing on great targets and shareholders seeing value retained.”