LONDON - In a significant move within the energy sector, Michael Spencer, through his controlled undertakings, has increased his stake in Pantheon Resources PLC, a UK-based oil and gas exploration company. The notification, dated December 10, 2024, indicates that Spencer's total holdings now amount to 7.19% of the company's voting rights.
This adjustment in shareholding crossed the notifiable threshold, resulting in the obligation to disclose the change. The details of the transaction reveal that Spencer now directly holds 0.278% of the voting rights, with an additional 4.983% held indirectly. Further, financial instruments in the form of Contracts for Difference (CFDs) account for 1.93% of the voting rights.
The total number of voting rights now held by Spencer is 81,871,580, marking an increase from the previous notification, where the combined total of voting rights was 6.986%. This shift reflects a strategic change in Spencer's investment in Pantheon Resources, which is listed on the London Stock Exchange (LON:LSEG) under the ticker LSE:PANR.
Michael Spencer, known for his business acumen and investments through his private company IPGL Ltd, has a history of making significant investments in various sectors. This latest increase in his stake in Pantheon Resources could be seen as a vote of confidence in the company's prospects.
The notification was completed on December 12, 2024, in London, as per the regulatory standards set by the Financial Conduct Authority. It is important to note that this information is based on a press release statement and does not reflect any endorsement or analysis of the company’s performance or future prospects.
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