Director Share Purchases

RNS Number : 0756S

Oracle Power PLC

07 March 2023

 

7 March 2023

Oracle Power PLC

("Oracle" or the "Company")

Director share purchases

Oracle Power PLC (AIM: ORCP), a developer of green hydrogen, is pleased to announce that the Directors of the Company have purchased ordinary shares in the Company as part of the MAR compliant Director Share Purchase Plan ("Director Purchase Plan") as previously announced.

The following share purchases were made on 6 March 2023:

DIRECTOR	POSITION	ORDINARY SHARES PURCHASED	PRICE PER ORDINARY SHARE	TOTAL BENEFICIAL INTEREST	% ISSUED SHARE CAPITAL
Mark Steed	Non-Executive Chairman	78,856	0.175 pence	24,935,520	0.739%
Naheed Memon	CEO	691,717	0.175 pence	114,295,788	3.389%
David Hutchins	Non-Executive Director	105,141	0.175 pence	1,071,056	0.032%

Further details of the Director Purchase Plan can be found in the Company's announcement of 29 September 2022.

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

*ENDS*

For further information on Oracle Power PLC, visit the Company's website http://www.oraclepower.co.uk or contact:

Oracle Power PLC

Naheed Memon - CEO  [phone]

Strand Hanson Limited (Nominated Adviser and Broker)

Rory Murphy, Matthew Chandler, Rob Patrick  [phone]

Buchanan (Financial PR)

Bobby Morse/Oonagh Reidy/Abigail Gilchrist  [phone]

Details of the full notifications received by the Company are set out below:

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	1.  Mark Steed 2.  Naheed Memon 3.  David Hutchins
2.	Reason for the notification
a.	Position/status	1.  Non-Executive Chairman 2.  CEO 3.  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	Oracle Power PLC
b.	LEI	213800KTG8HX1WBCAA49
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 Identification code	Ordinary Shares of 0.001 each GB00B23JN426
b.	Nature of the transaction	Purchase of Ordinary Shares
c.	Price(s) and volume(s)	Director Price/share Volume (s) 1. M Steed 0.175 pence 78,856 2. N Memon 0.175 pence 691,717 3. D Hutchins 0.175 pence 105,141
d.	Aggregated information -  Aggregated volume -  Price	875,714 £0.00175 per Ordinary Share
e.	Date of the transactions	6 March 2023
f.	Place of the transactions	London Stock Exchange's AIM Market (XLON)

About Oracle Power PLC

Oracle Power PLC is an international natural resource and power project developer quoted on London's AIM market. The Company currently has two areas of focus: Western Australia and Pakistan. The Company is active in the energy industry in Pakistan and is working to establish a green hydrogen production facility through Oracle Energy Limited, a joint venture with His Highness Sheikh Ahmed Dalmook Al Maktoum.

Oracle Energy Limited has been set up as the project development company and is funded on a 70:30 basis by Kaheel Energy (100% owned by His Highness Sheikh Ahmed Dalmook Al Maktoum) and Oracle Power PLC respectively.  The project development company provides a vehicle to support the accelerated development of the green hydrogen project to meet the growing international and domestic demand of green hydrogen and clean energy. 

The Company also continues to advance towards the development of its Thar Block VI Project in south-east Pakistan into a mine, a power plant and a proposed coal gasification project. 

In Australia, its primary focus is the Northern Zone Gold Project, located 25km east of the major gold mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second largest gold mine in Australia.  Northern Zone has a current Exploration Target of 200-250Mt at 0.4-0.6g/t Au for between 2.5 - 4.8Moz gold, with drilling being planned to define a maiden inferred JORC resource.

 

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