Last checked at 30 Oct 2019 14:55
30 October 2019
Power Metal Resources plc ("POW" or the "Company")
("POW" or the "Company")
Directors dealings
Power Metal Resources plc (LON:POW) the AIM listed African focused metals exploration and development company was notified that Andrew Bell, the Chairman of the Company, has purchased 250,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 0.499 pence per Share.
Additionally, Value Generation Limited, a company beneficially owned by Paul Johnson, the CEO of the Company, has purchased 100,000 Ordinary Shares at a price of 0.448 pence per Share, 250,000 Ordinary Shares at a price of 0.4917 pence per Share and 250,000 Ordinary Shares at a price of 0.500 pence per Share.
Following this purchase, Mr Bell has a beneficial interest in a total of 11,270,000 Ordinary Shares, representing approximately 3.02% of the issued share capital of the Company and Mr Johnson has a beneficial interest in a total of 18,600,000 Ordinary Shares, representing approximately 4.99% 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
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a)
| Name
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1. Andrew Bell
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
|
1. Executive 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) |
| |
|
| 0.449 pence | 250,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | N/A - single transaction
| ||||
|
| ||||
- Price |
| ||||
|
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e)
| Date of the transaction
| 30 October 2019 | |||
f)
| Place of the transaction
| XLON | |||
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) |
| |
| a. | 0.448 pence | 100,000 |
| |
| b. | 0.4917 pence | 250,000 |
| |
| c. | 0.5000 pence | 250,000 |
| |
|
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|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 600,000
| ||||
|
| ||||
- Price | 0.480 pence | ||||
|
| ||||
e)
| Date of the transaction
| 30 October 2019 | |||
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.
Further enquiries
Power Metal Resources plc |
|
Paul Johnson (Chief Executive Officer) | +44 (0) 7766 465617 |
SP Angel Corporate Finance (Nomad and Broker) |
|
Ewan Leggat | +44 (0) 2034 700470 |
SI Capital Limited |
|
Nick Emerson | +44 (0) 1483 413500 |
|
|
Notes to Editors:
Power Metal Resources plc (LON:POW) is an AIM listed African focused 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 nickel, copper and cobalt.