Last checked at 29 May 2020 08:47
29 May 2020
Power Metal Resources plc ("POW" or the "Company")
("POW" or the "Company")
Directors dealings
Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that, on 28 May 2020, Value Generation Limited, a company beneficially owned by Paul Johnson, the CEO of the Company, purchased on market 3,500,000 Ordinary Shares of 0.1 pence each ("Ordinary Shares") at a price of 0.39 pence per Ordinary Share as follows:
Number of Ordinary Shares | Price per Ordinary Share | Cost | |
1,000,000 | 0.39p | £3,900 | |
1,500,000 | 0.39p | £5,850 | |
1,000,000 | 0.39p | £3,900 | |
Total | 3,500,000 | £13,650 |
Following this purchase Mr Johnson has a beneficial interest in a total of 31,600,000 Ordinary Shares, representing approximately 5.72% of the issued share capital of the Company.
PDMR Disclosure
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.
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) | ||||
0.39 pence 0.39 pence 0.39 pence | 1,000,000 1,500,000 1,000,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 3,500,000
| ||||
- Price | 0.39p | ||||
e)
| Date of the transaction
| 28 May 2020 | |||
f)
| Place of the transaction
| XLON | |||
**Ends**
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
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.