TIDMPOW
RNS Number : 6254Y
Power Metal Resources PLC
05 May 2023
5 May 2023
Power Metal Resources plc
("Power Metal" or the "Company")
Appointment of Non-Executive Director
Power Metal Resources plc (LON:POW) the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio announces the appointment of Bill
Brodie Good as a Non-executive Director of the Company with
immediate effect.
Bill has over 30 years experience in global exploration and
project management with extensive work in geological and project
management in Australia, Francophone West and Central Africa, the
Middle East and Central Asia.
Bill's most recent role was as CEO and Technical Director of AIM
listed Alien Metals in which he made the significant discovery of a
DSO Iron Ore resource amongst other achievements with the
company.
Bill's experience has extensively involved the design, planning
and implementation of new and grass roots exploration programmes
with an emphasis on in country logistics planning, government
liaison, people management and project delivery on time and in
budget.
In addition to his role as a Non-executive Director, Bill will
also provide consulting services to Power Metal directly at the
project level.
Sean Wade, Chief Executive Officer of Power Metal Resources
commented:
"I am delighted to welcome Bill to the Power Metal team and very
much look forward to working with him as we seek to continue the
development of our business.
We are very fortunate to have someone with Bill's experience and
technical skills to assist with project development across the
Company.
Our business model is based on selective project acquisition,
adding value through exploration and corporate advancement and
crystallisation to unlock the inherent value in our portfolio.
Bill's expertise along with that of the rest of the board and our
first class management team will ensure that that continues to
happen."
Regulatory Disclosures:
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for
Companies in relation to Douglas William Brodie Good, aged 61:
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
KBG Consultants Limited Alien Metals Limited
Mineral Exploration Services
Ltd
SRK Exploration Services Limited
SRK Exploration Services Nominee
Company Limited
-----------------------------------------
Mr Brodie Good does not hold any shares in Power Metal.
Mr Brodie Good has confirmed there is no further information to
be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM
rules.
As part of Mr Brodie Good's employment contract Mr Brodie Good
has been issued with Power Metal share options, namely, 5 million
options to subscribe for new Power Metal ordinary shares of 0.1p
each at an exercise price of 3.25 pence with a life to expiry of 3
years from today (the "Director Options"). The Director Options are
subject to a minimum service period of 6 months and may not be
exercised until the volume weighted
average price of Power Metal shares trades at 5.0 pence for ten consecutive trading days.
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
Bill Brodie Good
-------------------------------------- --------------------------------------
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 ordinary shares of 0.1p each
financial instrument,
type of instrument
Identification code ISIN: GB00BYWJZ743
b) Nature of the transaction
Issue of Options
-------------------------------------- --------------------------------------
c) Price(s) and volume(s)
---------------- -----------------
Price(s) Volume(s)
---------------- -----------------
3.25p 5,000,000
---------------- -----------------
d) Aggregated information
- Aggregated volume 5,000,000
- Price 3.25p
e) Date of the transaction 5 May 2023
-------------------------------------- --------------------------------------
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) +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 - Background
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, base and strategic 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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