Power Metal Resources PLC Director & PCA Dealing (5775G)
July 20 2023 - 2:00AM
UK Regulatory
TIDMPOW
RNS Number : 5775G
Power Metal Resources PLC
20 July 2023
20 July 2023
Power Metal Resources PLC
("Power Metal" or the "Company")
Director & PCA Dealing
Power Metal Resources PLC (AIM:POW), the AIM listed metals
exploration and development company, announces that it has been
informed of the following share dealings:
The transfer from Edmund Shaw, non-executive director, of
2,000,000 ordinary shares of GBP0.01 each ("Ordinary Shares") for
nil consideration to Lydia Shaw, a Person Closely Associated
("PCA") with Mr Edmund Shaw.
The sale by Edmund Shaw of 5,000,000 Ordinary Shares at a price
of 0.65 pence per Ordinary Share and subsequent repurchase of
5,000,000 Ordinary Shares at a price of 0.6506 pence per Ordinary
Share in an individual savings account ("ISA") in his name.
The sale by Lydia Shaw of 2,000,000 Ordinary Shares at a price
of 0.67 pence per Ordinary Share and subsequent repurchase of
1,993,901 Ordinary Shares at a price of 0.6715 pence per Ordinary
Share in an ISA in her name.
Following these dealings, the combined beneficial holding of
Edmund Shaw and Lydia Shaw is 13,993,901 Ordinary Shares,
representing 0.67% of the Company's issued share capital.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation (as it forms part of
UK law pursuant to the European Union (Withdrawal) Act 2018),
provide further detail on the share dealings.
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name of person Dealing Edmund Shaw
-------------------------------- -------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status Non-Executive Director
-------------------------------- -------------------------------------
(b) Initial notification/ Initial notification
Amendment
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity 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 0.1 pence
instrument, type of instrument each in the Company
-------------------------------- -------------------------------------
(b) Identification code ISIN: GB00BYWJZ743
-------------------------------- -------------------------------------
(c) Nature of the transaction 1. Transfer of Ordinary Shares
2. Sale of Ordinary Shares
3. Purchase of Ordinary Shares
in ISA
-------------------------------- -------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
Transfer Nil 2,000,000
---------- ----------
Sale 0.65p 5,000,000
---------- ----------
Purchase 0.6506p 5,000,000
---------- ----------
-------------------------------- -------------------------------------
(e) Aggregated information: N/A
- Aggregated volume
- Price
-------------------------------- -------------------------------------
(f) Date of transaction 1. 17 July 2023
2. 19 July 2023
3. 19 July 2023
-------------------------------- -------------------------------------
(g) Place of transaction AIM
-------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name of person Dealing Lydia Shaw
-------------------------------- -------------------------------------
2. Reason for notification
-----------------------------------------------------------------------
(a) Position/status PCA of Edmund Shaw, Non-Executive
Director
-------------------------------- -------------------------------------
(b) Initial notification/ Initial notification
Amendment
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name of entity 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 0.1 pence
instrument, type of instrument each in the Company
-------------------------------- -------------------------------------
(b) Identification code ISIN: GB00BYWJZ743
-------------------------------- -------------------------------------
(c) Nature of the transaction 1. Sale of Ordinary Shares
2. Purchase of Ordinary Shares
in ISA
-------------------------------- -------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
Sale 0.67p 2,000,000
---------- ----------
Purchase 0.6715p 1,993,901
---------- ----------
-------------------------------- -------------------------------------
(e) Aggregated information: N/A
- Aggregated volume
- Price
-------------------------------- -------------------------------------
(f) Date of transaction 17 July 2023
-------------------------------- -------------------------------------
(g) Place of transaction AIM
-------------------------------- -------------------------------------
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) 20 3778 1396
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
BlytheRay (PR Advisors)
Tim Blythe/Megan Ray +44 (0) 20 7138 3204
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (AIM:POW) is an AIM listed metals
exploration company which finances and manages global resource
projects.
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
grow the Company, 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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