Power Metal Resources PLC Issue of Non-executive Director Options (0243H)
April 01 2022 - 10:40AM
UK Regulatory
TIDMPOW
RNS Number : 0243H
Power Metal Resources PLC
01 April 2022
01 April 2022
Power Metal Resources plc
("Power Metal" or the "Company")
Issue of Non-executive Director Options
Power Metal Resources plc (LON:POW), the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio, announces an issue of Non-executive
Director Options ("NED Options").
The NED Options were originally announced by the Company on 4
June 2021, and this announcement may be viewed through the link
below:
https://www.londonstockexchange.com/news-article/POW/company-option-pool-proposed-ned-option-award/15005369
The proposed issue of the NED Options was subject to approval of
shareholders at the next available General Meeting, which was the
Annual General Meeting ("AGM") held on 30 March 2022.
Following shareholder approval at the AGM, the Company has today
issued 5 million NED Options each to Scott Richardson Brown
(Interim Non-executive Chairman) and Edmund Shaw (Non-executive
Director). In total 10 million NED Options have been issued.
Each NED Option carries the right to acquire a new ordinary
share in the Company of 0.1p each. The NED Options carry the
following terms:
Exercise Price: 3.25p
Expiry Date: 4 June 2024
Share Price Performance Condition: That the NED Options cannot
be exercised until the volume weighted average share price of the
Company has exceeded 5p 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
1. Scott Richardson Brown
--------------------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status
1. Non-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 ordinary shares of 0.1p each
instrument, type of
instrument
Identification code ISIN: GB00BYWJZ743
b) Nature of the transaction
1. 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 1 April 2021
--------------------------------------- ------------------------------------------
f) Place of the transaction Off market
--------------------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name
1. Edmund Shaw
--------------------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status
1 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 ordinary shares of 0.1p each
instrument, type of
instrument
Identification code ISIN: GB00BYWJZ743
b) Nature of the transaction
1. 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 1 April 2022
--------------------------------------- ------------------------------------------
f) Place of the transaction Off market
--------------------------------------- ------------------------------------------
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 - 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.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway,
with results awaited, as outlined below:
Project Location POW % Work Completed Results Awaited
or Underway
Alamo Gold USA Earn-in Excavation of multiple Field and assay
Project to 75% test pits and mapping results from on-site
& sampling. work programme.
---------- --------- ------------------------ ----------------------------
Athabasca Canada 100% Data compilation Interpretation
Uranium across uranium results from 2
properties of 7 properties.
---------- --------- ------------------------ ----------------------------
Authier North Canada Earn-in Soil & rock sampling Technical Review
Lithium to 100% completed of exploration
results & define
next exploration
steps.
---------- --------- ------------------------ ----------------------------
Ditau Project Botswana 50% Drill programme Field updates and
focused on key receipt & review
targets notably of laboratory assay
drilling of potential results.
carbonatites and
targeting rare-earth
elements.
---------- --------- ------------------------ ----------------------------
Kalahari Copper Botswana 50% Exploration programme Field programme
Belt underway across findings and defined
the South Ghanzi drill targets for
Project and further near term drilling.
exploration at
the more recently
acquired South
Ghanzi Extension
and Mamuno licence
areas
---------- --------- ------------------------ ----------------------------
Molopo Farms Botswana 53% Review of recent Determine next
exploration findings. exploration steps
and action plan.
---------- --------- ------------------------ ----------------------------
Haneti Project Tanzania 35% Diamond drill programme Receipt & review
completed of laboratory assay
results.
---------- --------- ------------------------ ----------------------------
Victoria Goldfields Australia 49.9% Diamond drill programme Field updates and
underway receipt & review
of laboratory assay
results.
---------- --------- ------------------------ ----------------------------
Paterson Projects Australia 83.33% Wallal passive Findings from multiple
seismic and 2D work programmes
seismic processing including final
work programme approvals and preparations
completed. for planned deep
Review of historical diamond drilling.
data and target
generation for
Ripon Hills & Braeside
West projects.
---------- --------- ------------------------ ----------------------------
Selta Project Australia 83.33% Field reconnaissance Field updates.
work now underway,
including mapping
and sampling.
---------- --------- ------------------------ ----------------------------
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END
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