Grant of Director, Management and Staff Options

Power Metal Resources PLC

14 November 2024

 

14^th November 2024

Power Metal Resources PLC

("Power Metal" or the "Company")

Grant of Director, Management and Staff Options

Power Metal Resources PLC (AIM:POW, OTCQB:POWMF), the London listed exploration company with a global project portfolio, announces that it has granted options over 6.4 million new ordinary shares of 2 pence each in the Company ("Ordinary Shares") to certain Directors and staff members to subscribe for new Ordinary Shares at an exercise price of £0.20 each with a life to expiry of three years from yesterday's date.

Power Metal recognises the value of incentivising team members at all levels through reasonable salaries combined with equity participation through share options, aligning the team with shareholder interests.

Further details on the grant of options are provided below and recognise the contribution made by the team to the rapid development of the Company and the strategic current value of its broad-spectrum natural resource-focused exploration and development portfolio.

Further Information

3.75 million options have been granted to Power Metal Board Directors and Officers (the "Director and Officer Options"). The Director and Officer Options, along with a summary of existing options held are outlined in the tables below:

New Director / Officer Options Granted

Director	Options Granted	Exercise price (£)	Expiry
Sean Wade	1,350,000	0.20	13 November 2027
Scott Richardson Brown	850,000	0.20	13 November 2027
Edmund Shaw	700,000	0.20	13 November 2027
Jamie Tosh	850,000	0.20	13 November 2027
Total	3,750,000

Existing options held by Directors / Officer

Director	Existing options held	Exercise price (£)	Expiry
Sean Wade	625,000	0.65	10 March 2026
Sean Wade	625,000	0.30	31 July 2028
Scott Richardson Brown	500,000	0.30	31 July 2028
Edmund Shaw	500,000	0.30	31 July 2028
Douglas William Brodie Good	250,000	0.65	5 June 2026
Douglas William Brodie Good	250,000	0.30	31 July 2028
Jamie Tosh	275,000	0.30	31 July 2028
Total existing options held	3,025,000

A new pool totalling 2.65 million options has been granted to Power Metal employees, to be allocated in line with the Board's instructions to non-Board team members, and with the same terms as the Director Options above ("Team Options"). The Team Options are in addition to 2 million previously granted options to the non-board team members (£0.30 exercise price, expiry 31/07/2028).

Where possible the Director, Officerand Team Options will be written under new Enterprise Management Initiative ("EMI") schemes for tax efficiency and to maximise the potential cash return to employees of the Company.

Related Party Transaction

The issue of the Director Options to Scott Richardson Brown, Sean Wade and Edmund Shaw has been deemed to constitute related party transactions for the purposes of AIM Rule 13 of the AIM Rules for Companies.

Douglas William Brodie Good, being the Director independent of the issue of the Director Options, considers, having consulted with the Company's nominated adviser, SP Angel Corporate Finance LLP, the issue of the Director Options in respect of the related parties are fair and reasonable insofar as the Shareholders are concerned.

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	Scott Richardson Brown
2	Reason for the notification
a)	Position/status	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 Identification code	ordinary shares of 2p each ISIN: GB00BMFSSJ73
b)	Nature of transaction	Issue of options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.20 850,000
d)	Aggregated information -      Aggregated volume -      Price	850,000 £0.20
e)	Date of the transaction	13 November 2024
f)	Place of the transaction	Off Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Sean Edward Wade
2	Reason for the notification
a)	Position/status	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 Identification code	ordinary shares of 2p each ISIN: GB00BMFSSJ73
b)	Nature of transaction	Issue of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.20 1,350,000
d)	Aggregated information -      Aggregated volume -      Price	1,350,000 £0.20
e)	Date of the transaction	13 November 2024
f)	Place of the transaction	Off Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Edmund Shaw
2	Reason for the notification
a)	Position/status	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	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 Identification code	ordinary shares of 2p each ISIN:  GB00BMFSSJ73
b)	Nature of transaction	Issue of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.20 700,000
d)	Aggregated information -      Aggregated volume -      Price	700,000 £0.20
e)	Date of the transaction	13 November 2024
f)	Place of the transaction	Off Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jamie Tosh
2	Reason for the notification
a)	Position/status	Chief Operating 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 Identification code	ordinary shares of 2p each ISIN:  GB00BMFSSJ73
b)	Nature of transaction	Issue of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.20 850,000
d)	Aggregated information -      Aggregated volume -      Price	850,000 £0.20
e)	Date of the transaction	13 November 2024
f)	Place of the transaction	Off Market

This announcement contains 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
Sean Wade (Chief Executive Officer)	[phone]
SP Angel Corporate Finance LLP (Nomad and Joint Broker)
Ewan Leggat/Caroline Rowe	[phone]
Tamesis Partners LLP (Joint Broker)
Richard Greenfield/Charlie Bendon	[phone]
BlytheRay (PR Advisors) Tim Blythe/Megan Ray	[phone]

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (AIM:POW, OTCQB:POWMF) is a London-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, base and strategic metal exploration in North America, Africa, Saudi Arabia 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