Member Info for Tray556

So someone has sold 50,000 POW stock this morning @ 14.77p whilst POW have announced this very same morning that they are happy to buyback stock at 15.02p. There is also a 30,000 sell @ 14.65p.

Makes absolutely zero sense .... Surely you'd pick up the phone or fire up your emails and get in touch with SP Angel and get a bit more for your money?

The state of the POW share float is so unbelievably bad.

Agree Zebbo and you are clearly not the only one adding to their POW position.

Clearly also a few sellers around here even with the share buyback well underway. The brokers need to take these sellers out here at 15p instead of closer to the 24-25p a share NAV price.

16.7mil shares can still be bought back, but no point being too aggressive with it yet if they can weed out some more sellers at these prices on the cheap.

POW then get more shares locked away in treasury at a cheaper price and the float is much stronger for when tangible news lands. A win/win scenario.

549,781 shares now bought back at an average price of 14.57p costing POW £80,085 to date.

POW have approval to buyback a further 16,700,219 shares.

Price continues to grind upwards.

Zebbo - The rules of the buyback are as follows:

The maximum price (exclusive of expenses) at which shares may be purchased is the HIGHER of:

1. 5% above the average of the middle market quotations of the shares as derived from the London Stock Exchange Official List for the 5 business days preceding the date of purchase.

2. The higher of the price of the last independent trade and the highest current independent purchase bid on the London Stock Exchange at the time the purchase is carried out.

So I think even if price moved up 20%, POW can still buyback stock at the price of the last independent trade price.

In terms of only allowing 25% of the average daily trade volume to be bought back .... there doesn't seem to be any clause regarding this in the current buyback terms but you maybe right if that's just a general/standard AIM market rule surrounding buybacks.

Agree the rise will be slow and controlled to start with to weed out the obvious sellers. No point giving sellers 16p a share when they will take 14p.

The buyback here is not to spike the price. It's to methodically buy out everyone who is happy to hit the sell button at a 40% discount to NAV right now. Then once those sellers are cleared, it a case of buying everyone out who sees a 30% discount to NAV as a logical selling point.

Over the coming weeks/months along side steady news flow .... POW's SP should see a return to something at least close to its NAV value per share.

Then POW have millions of shares in treasury, the SP is much higher and the float is also tighter. POW can then either cancel the shares or sell the shares in treasury on to better quality investors down the line at a much higher price than today's prices. A win/win.

Another small buyback completed yesterday.

81,943 shares bought back at 14.68p on Day 2 (14.52p on Day 1). Shares getting bought back at a slightly higher price as POWs brokers try to weed out those who want to sell at a huge 40% discount to NAV.

Shares remaining to buyback 16,729,463.

Price should continue to grind up over the coming weeks/months.

Putting the stock into treasury just keeps your options open and is prudent. POW can cancel them down the line if the chose to do so.

The buyback could move the price up to 25-30p, and then POW sell the 15% in treasury to a cornerstone investor at 30p for example raising further cash down the line if required.

Key thing here is to take advantage of the stock being at a 40% discount to NAV and the float being held by some dire shareholders.

POW have raised funds in the past under Paul Johnson when the stock was trading at a massive premium to NAV. Now is the time to buyback stock when POW have a £10mil+ cash position and trading at a huge discount to NAV.

So the buyback commences with a £64k transaction at 14.52p.

POW confirming they are happy to buyback stock at this price and have the authority to buy up to around a further £2.4mil stock at this level if needs be.

14.52p will be the floor for now until any positive news lands. POW likely to try and weed out who they can at this level before the price inevitably goes up with the buyback in place.

The market shouldn't be letting POW snaffle up stock at a 40% discount to NAV but this is AIM and there are some seriously illogical shareholders within the POW float at present. POW might as well take advantage of that and glad to see they finally are with this morning's RNS.

POW effectively are now like a £2.4mil buyer on the book, should bode well for the coming weeks/months.

Doc83 - Interesting as a few others have mentioned that the buyback may also have commenced already and the delayed trades from Friday maybe the first tranche of shares bought back.

I'm not 100% sure if POW have to release an RNS to say "the buyback has started" .... but POW have released an RNS confirming that everything has been legally approved to do a share buyback.

As any share buyback is a change of equity, if any shares were bought back on Friday, there would definitely have to be an announcement next week confirming the amount of any shares bought back. I would imagine they would have to RNS this on Monday/Tuesday. This would be a signal to the market that the buyback is definitely underway as well.

On the other hand, this maybe just as simple as someone taking a position for when a potential buyback kicks in along side news from other fronts i.e. Minestarters, Uranium JV, Saudi, GSAe etc.

Plenty to look forward to in 2026 and how the market is still pricing this in at a 40% discount to NAV is beyond belief really and just sums up how poor of an exchange AIM is.

From a liquidity point of view, if the 17.25mil share buyback kicks in, then you will potentially see liquidity like you have never seen before in POW. Liquidity has been a huge issue in POW for years and it's caused the float to move into rotten hands.

17,250,000 available to buyback x 15p share price = £2.59mil

POW has never seen a £2.59mil buyer sit on the bid and the buyback effectively does this. Will highly likely cost POW a bit more than this to fully action the buyback of 17.25mil shares as price will almost certainly start moving upwards quickly from a demand/supply point of view.

NAV at the 25p per share mark at the moment so in any logical market, the market should never be pricing POW at 14/15p. When the market acts illogically, take advantage of it. Lets hope POW get this buyback actioned ASAP at these levels and swallow up as much as they can at these huge discounts to NAV.

Surely updated from Minestarters, Uranium JV with UCAM, GSAe, Saudi etc. to come in Q1 too, plus maybe more M&A activity with the £10mil+ bank balance.

Doc83 - Yes if no news in the next couple of weeks I think it's probably safe to assume no buyback in the near term. But still confident we hear something on the topic shortly.

Banbury - Yes RRR are a total nightmare and I agree it's unlikely POW will get any more cash out of them. The £500k now due is somewhere in the region of 20-25% of the entire RRR market cap. Cannot see RRR making it out of 2026 alive to be honest. But for POW, the RRR monies are just small fry. Hopefully plenty of POW updates across the portfolio in Q1 2026 but want to see an update on the potential buyback for starters.

Fully agree Banbury.

Good to see you on the POW board and also nice to see you bought a stake in POW too.

For what it's worth, you are the only logical voice on the RRR board. Let's hope POW get their £400k+ in March 2026 which is still due from RRR before RRR inevitably implodes.

Yes 17,250,000 shares available to buyback per the vote in the AGM in July 2025.

General meeting result on 10/11/2025 approved the capital reduction to make a potential buyback possible.

On 09/12/2025 the court case made the capital reduction a legal reality and by 23/12/2025 all the capital reduction paperwork has been filed at Companies House and is now available to view.

The question now is when will the buy back commence? I personally thought it would have been actioned from the first working day of 2026.

Likely £10mil+ in the bank so any potential buyback would only be using a small portion of the cash reserves, but maybe POW have found another avenue to spend the funds over the past month or so?

I still think a buyback is a complete no brainer when there are 100,000s of shares being sold at 14p when the NAV is around 25p a share right now.

POW must have spent a few quid and significant admin time getting the capital reduction over the line. I highly doubt they have got everything in place to do a buyback to then decide against it at the eleventh hour unless a far more significant opportunity has presented itself.

Expecting POW to release and rid themselves of any inside information over the coming days/weeks if they are going to proceed with a share buyback in the near term.

As of 24/12/2025, everything is legally in place including £10mil+ cash in the bank to proceed with a potential share buyback.

As far as I am aware, if POW have not released all insider info to the market, then a potential share buyback can not proceed. Maybe tricky if POW are close on signing a few new deals for example, or there is a number of tangible updates re Minestarters to release to the market.

Hopefully POW get the thumbs up from the NOMAD ASAP and can proceed with this potential share buyback as buying stock back at 14-15p whilst your NAV is 25p is a total gift!

Plenty of updates to come across the board in Q1 2026 I would imagine. But whilst the market is not giving POW a fair wind, its a no brainer to commence a share buyback on the cheap in my opinion!

From the moment Sean walked through the door he's stated that POW will be a merchant banking model and the focus will be on balance sheet growth.

Since then he's doubled the balance sheet, put the POW bank balance into realms junior exploration companies on AIM could only dream of, and made deals with billionaires.

So just because the market currently doesn't like it he should have a salary cut? Ridiculous comment!

So if the market currently starts liking the exact same company Sean has built, he should get a pay boost?

Not how it works Sol001 and you know it .... if Sean keeps doubling the balance sheet every 2-3 years, we all make some serious money here in the long run.

Sean's salary is not the issue here. It's the shocking state of the POW float. Share buyback in the new year will hopefully help to at least partially address that issue.

From the wording of the High Court Approval RNS on 09/12/2025:

"The Order confirming the Share Capital Reduction, a statement of capital approved by the Court, and an amended version of the Company's Articles of Association are expected to be registered by the Registrar of Companies at Companies House no later than 24 December 2025.

Following registration at Companies House, the Share Capital Reduction will be effective. A further announcement will be posted in this regard."

Well the amended articles of association appear to have been filed at Companies House today. The Share Capital Reduction appears to now be effective.

That's exactly what will happen sol001 if a dividend is declared and I'm pretty sure the POW board are fully aware that the dire float needs a bit of refresh, not spiralling into an even worse state of affairs.

Share buyback is likely the better option although hindsight is a wonderful thing.

Minimal liquidity at the moment but the shareholder vote and court case approval paves the way for POW to buy back up to 17mil shares. Using today's SP of 13.5p .... that's like a £2.3mil buyer turning up.

At this stage it's still all guess work what POW decided to do after the court case approval, but I would have thought a lot more people would have been positioning themselves to beat a potential £2.3mil buyer to the punching in a few weeks time. POW know that everything under 25p is a discount to NAV. Surely anything up to this price POW are happy to buyback on the cheap.

A bit of liquidity yesterday, however, it's in POW's interests that this continues to fly under the radar with an almost 50% discount to NAV on offer so they can buy back a tonne of stock on the cheap and reduce the shares in issue without it costing the business too much.

Shareholder approval vote and the court case done ... full steam ahead with a buyback now hopefully.

Not sure how a potential buyback would be actioned by the company, but from 24/12/2025 (probably the first week of 2026 in reality), POW have the power to stick 17mil shares on the bid.

When there is very little liquidity around, surely you want to beat a potential 17mil share buyer to the punch? That's 15% of the float! POW surely happy to buyback any stock valued at less than their NAV per share which is around 25p at present.

Those talking about a special dividend .... I really hope POW don't go down this avenue. POW have struggled to get their SP moving over the past few years as the stock has been inundated with clueless and borderline insane retail investors. I run the POW Telegram group and the logic and investing IQ on that group over the past 6-12 months has been a total embarrassment compared to what it was a few years ago.

Announcing a special dividend would just send the float into further chaos by the ex-div date. POW need to tighten up the float, not create even more loose stock. A share buyback should in theory tighten up the float and it's a no brainer whilst the SP trades at a 50% discount to NAV in my opinion.

"If the Resolutions to reduce the Company’s share capital are passed by the Shareholders, the Company will then seek the confirmation of the Court to sanction the Share Capital Reduction. It is expected that the Court Hearing at which the Court will confirm the Share Capital Reduction will take place on or around 9 December 2025.

The Court will only sanction the Resolutions for the Share Capital Reduction if it is satisfied that this will not prejudice the interests of the creditors. The Company and the Directors will therefore take all appropriate steps to satisfy the Court in this regard. If the Court makes the appropriate Court Order, the Share Capital Reduction will become effective when the Court Order has been registered by the Registrar of Companies, which is expected to take place by no later than 24 December 2025 and with the precise date depending on processing times at Companies House"

Exactly micksnags ... if POW had held on to their initial holding, GMET simply wouldn't be on half as many investor radars and their SP wouldn't be anywhere near the levels it's currently at.

POW took £2mil to £23mil. Job done, no need for finance for several years and its time to use the GMET funds to crystalise the next multibagger.

FDR looking a long shot now, but POW have plenty of other shots on goal, and £15mil in the bank to create a whole host of future shots on goal too.

Market Cap currently equal to cash. Business just needs to create a bit of excitement and the SP will move much higher from these levels. Share buyback would be a huge catalyst here in my opinion. Updates needed in regards to the GM & court case for a potential capital reduction event.

Heads should roll over an incubator model that took a £2mil investment to £23mil in 2 years?

Erosion of shareholder money? A £21mil profit was crystalised. Wild comment.

POW will never be able to sell their large holdings to HNWs without leaving something on the table. POW move on to looking at creating the next "GMET" value event now.

Business is in good hands here, comms/updates are extremely weak however, but with £15mil+ cash to back up your £15mil market cap for starters. A fantastic entry point as retail just get bored and move on. Plenty moved to FDR over the past month or two. Not everything POW touch is going to be a "GMET" .... POW the safer way of playing this sector. It's not created much in terms of share price appreciate for a few years but it eventually will.

Hoping the business can speed up this share buyback and get it done whilst the SP is sitting at "cash per share" levels. Plenty of sellers still around at these levels. POW need to just pay them all over via this buyback and let anyone out who would prefer to play FDR etc.