Power Metal Resources PLC Director Dealings (5009I)
August 12 2021 - 09:41AM
UK Regulatory
TIDMPOW
RNS Number : 5009I
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 further 250,000
ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") at a price of 2.14p per Ordinary Share through his
Self-Invested Personal Pension ("SIPP").
With the Director Dealing announcement earlier, Paul Johnson has
today purchased a total of 500,000 shares (GBP10,597 invested in
total).
Following the above purchase Mr Johnson has a beneficial
interest in a total of 64,500,000 Ordinary Shares, representing
approximately 5.43% 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 Initial Notification
/Amendment
--------------------------------------- -------------------------------------
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 ordinary shares of 0.1p each
instrument, type of
instrument
Identification code ISIN: GB00BYWJZ743
b) Nature of the transaction 1. Purchase of Shares
--------------------------------------- -------------------------------------
c) Price(s) and volume(s)
---------------- ----------------
Price(s) Volume(s)
---------------- ----------------
2.14p 250,000
---------------- ----------------
d) Aggregated information
- Aggregated volume 250,000
- Price 2.14p
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) +44 (0) 7766 465 617
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson +44 (0) 1483 413 500
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson +44 (0) 20 7330 1883
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.
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END
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