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20 Jul 2023 07:00
20 July 2023
Power Metal Resources PLC
("Power Metal" or the "Company")
Director & PCA Dealing
Power Metal Resources PLC (AIM:POW), the AIM listed metals exploration and development company, announces that it has been informed of the following share dealings:
The transfer from Edmund Shaw, non-executive director, of 2,000,000 ordinary shares of £0.01 each ("Ordinary Shares") for nil consideration to Lydia Shaw, a Person Closely Associated ("PCA") with Mr Edmund Shaw.
The sale by Edmund Shaw of 5,000,000 Ordinary Shares at a price of 0.65 pence per Ordinary Share and subsequent repurchase of 5,000,000 Ordinary Shares at a price of 0.6506 pence per Ordinary Share in an individual savings account ("ISA") in his name.
The sale by Lydia Shaw of 2,000,000 Ordinary Shares at a price of 0.67 pence per Ordinary Share and subsequent repurchase of 1,993,901 Ordinary Shares at a price of 0.6715 pence per Ordinary Share in an ISA in her name.
Following these dealings, the combined beneficial holding of Edmund Shaw and Lydia Shaw is 13,993,901 Ordinary Shares, representing 0.67% of the Company's issued share capital.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation (as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018), provide further detail on the share dealings.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||
(a) | Full name of person Dealing | Edmund Shaw | ||||||||||||
2. | Reason for notification | |||||||||||||
(a) | Position/status | Non-Executive Director | ||||||||||||
(b) | Initial notification/ Amendment | Initial notification | ||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
(a) | Name of entity | 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 0.1 pence each in the Company | ||||||||||||
(b) | Identification code | ISIN: GB00BYWJZ743 | ||||||||||||
(c) | Nature of the transaction | 1. Transfer of Ordinary Shares 2. Sale of Ordinary Shares 3. Purchase of Ordinary Shares in ISA | ||||||||||||
(d) | Price(s) and volume(s) |
| ||||||||||||
(e) | Aggregated information: - Aggregated volume - Price | N/A
| ||||||||||||
(f) | Date of transaction | 1. 17 July 2023 2. 19 July 2023 3. 19 July 2023 | ||||||||||||
(g) | Place of transaction | AIM | ||||||||||||
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
(a) | Full name of person Dealing | Lydia Shaw | |||||||||
2. | Reason for notification | ||||||||||
(a) | Position/status | PCA of Edmund Shaw, Non-Executive Director | |||||||||
(b) | Initial notification/ Amendment | Initial notification | |||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
(a) | Name of entity | 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 0.1 pence each in the Company | |||||||||
(b) | Identification code | ISIN: GB00BYWJZ743 | |||||||||
(c) | Nature of the transaction | 1. Sale of Ordinary Shares 2. Purchase of Ordinary Shares in ISA | |||||||||
(d) | Price(s) and volume(s) |
| |||||||||
(e) | Aggregated information: - Aggregated volume - Price | N/A
| |||||||||
(f) | Date of transaction | 17 July 2023 | |||||||||
(g) | Place of transaction | AIM | |||||||||
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
Power Metal Resources plc | ||
Sean Wade (Chief Executive Officer) |
| |
SP Angel Corporate Finance (Nomad and Joint Broker) | ||
Ewan Leggat/Charlie Bouverat | +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 | |
BlytheRay (PR Advisors) | ||
Tim Blythe/Megan Ray | +44 (0) 20 7138 3204 |
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (AIM:POW) is an AIM listed metals exploration company which finances and manages global resource projects.
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange, thereby crystallising the value generated from our internal exploration and development work.
Value generated through disposals will be deployed internally to grow the Company, or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
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