Directors Dealings

RNS Number : 6781R

Power Metal Resources PLC

30 October 2019

 

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
a)	Name	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
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
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)	[phone]
SP Angel Corporate Finance (Nomad and Broker)
Ewan Leggat	[phone]
SI Capital Limited
Nick Emerson	[phone]

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. 

 

END

 

 

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