Director Dealings

RNS Number : 4726I

Power Metal Resources PLC

12 August 2021

 

12 August 2021

Power Metal Resources plc ("Power Metal" or the "Company")

Director Dealing

Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that today, Paul Johnson, Chief Executive Officer of the Company purchased 250,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 2.0988p per Ordinary Share through his Self-Invested Personal Pension ("SIPP") (£5,247 invested). 

Following the above purchase Mr Johnson has a beneficial interest in a total of 64,250,000 Ordinary Shares, representing approximately 5.41% of the issued share capital of the Company.

Additionally, as announced yesterday, Value Generation Limited, a private company beneficially owned by Paul Johnson, has irrevocably undertaken to exercise 10 million warrants to acquire 10 million new Ordinary Shares in the Company. A further announcement in respect of this warrant exercise will be made on 17 August 2021 and will increase Paul Johnson's beneficial holding in the Company by a further 10 million Ordinary Shares.

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)
			2.0988p	250,000
d)	Aggregated information
	- Aggregated volume	250,000
	- Price	2.0988p
e)	Date of the transaction	12 August 2021
f)	Place of the transaction	XLON

Certain information contained in this announcement would have been deemed 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
Paul Johnson (Chief Executive Officer)	[phone]
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat	[phone]
SI Capital Limited (Joint Broker)
Nick Emerson	[phone]
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson	[phone]

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious and base 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 drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

 

END

 

 

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