Last checked at 24 Feb 2020 08:48
24 February 2020
Power Metal Resources PLC
("Power Metal" or "POW" or "Company")
Director Dealings
Power Metal Resources plc, the AIM listed metal exploration and development company, was today notified that on 21 February 2020 Value Generation Limited, a company beneficially owned by Chief Executive Officer, Paul Johnson, purchased 1,000,000 ordinary shares of 0.1 pence each in the Company ("Shares") at a price of 0.437 pence per Share.
Following this purchase, Mr Johnson has a beneficial interest in a total of 28,100,000 Shares, representing approximately 5.08% of the issued share capital of the Company.
The Company was also today notified that on 21 February 2020, Chairman Andrew Bell sold 1,000,000 Shares at a price of 0.375p per Share in a personal nominee account and repurchased 1,000,000 Shares in his personal SIPP account at a price of 0.414p per Share.
Following this sale and repurchase Mr Bell's interest in the Company remains unchanged at 17,770,000 shares representing approximately 3.22% of the issued share capital of the Company.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
|
1. Paul Johnson
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
|
1. Chief Executive Officer
| |||
b)
| Initial notification /Amendment
|
Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
|
Power Metal Resources Plc
| |||
b)
| LEI
|
213800VNXOUPHTX53686 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of 0.1p each | |||
Identification code | ISIN: GB00BYWJZ743 | ||||
| |||||
b)
| Nature of the transaction
|
1. Purchase of Shares | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| 0.437 pence | 1,000,000 |
| ||
|
|
|
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 1,000,000
| ||||
- Price | 0.437p | ||||
e)
| Date of the transaction
| 21 February 2020 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
|
1. Andrew Bell
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
|
1. Chairman
| |||
b)
| Initial notification /Amendment
|
Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
|
Power Metal Resources Plc
| |||
b)
| LEI
|
213800VNXOUPHTX53686 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of 0.1p each | |||
Identification code | ISIN: GB00BYWJZ743 | ||||
| |||||
b)
| Nature of the transaction
|
1. Sale of Shares | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| Sale 0.375 pence
| 1,000,000 |
| ||
|
|
|
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 1,000,000
| ||||
- Price | 0.375p | ||||
e)
| Date of the transaction
| 21 February 2020 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
|
1. Andrew Bell
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
|
1. Chairman
| |||
b)
| Initial notification /Amendment
|
Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
|
Power Metal Resources Plc
| |||
b)
| LEI
|
213800VNXOUPHTX53686 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of 0.1p each | |||
Identification code | ISIN: GB00BYWJZ743 | ||||
| |||||
b)
| Nature of the transaction
|
1. Purchase of Shares | |||
c)
| Price(s) and volume(s) |
|
|
|
|
| Price(s) | Volume(s) |
| ||
| 0.414 pence
| 1,000,000 |
| ||
|
|
|
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 1,000,000
| ||||
- Price | 0.414p | ||||
e)
| Date of the transaction
| 21 February 2020 | |||
f)
| Place of the transaction
| XLON | |||
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information please visit https://www.powermetalresources.com/ or contact:
Power Metal Resources plc | |
Paul Johnson (Chief Executive Officer) | +44 (0) 7766 465 617 |
SP Angel Corporate Finance (Nomad and Joint Broker) | |
Ewan Leggat | +44 (0) 20 3470 0470 |
SI Capital Limited (Joint Broker) | |
Nick Emerson | +44 (0) 1483 413 500 |
First Equity Limited (Joint Broker) | |
David Cockbill/Jason Robertson | +44 (0) 20 7330 1883 |
Notes to Editors:
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company exploring for the key metals used in power generation, transmission, storage and utilisation. The Board and team of advisors, who have proven expertise in exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the power metal commodity suite, particularly cobalt, lithium, copper and nickel.