Power Metal Resources PLC Former Director Exercise of Warrants (3376A)
May 23 2023 - 3:54AM
UK Regulatory
TIDMPOW
RNS Number : 3376A
Power Metal Resources PLC
23 May 2023
23 May 2023
Power Metal Resources PLC
("Power Metal" or the "Company")
Former Director Exercise of Warrants
Power Metal Resources PLC (LON:POW), the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio announces an exercise of warrants.
Warrant Exercise
The Company has received a notice to exercise warrants from
former director Paul Johnson over 6,250,000 new ordinary shares of
0.1 pence each in the Company ("Warrant Shares") at an exercise
price of 0.7p per Warrant Share and raising an additional GBP43,750
for the Company.
As a result of this exercise Paul Johnson and Michelle Johnson
will hold 82,250,000 Power Metal shares equating to 3.98% of issued
share capital.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 6,250,000 Warrant Shares to be
admitted to trading on AIM which is expected to occur on or around
26 May 2023 ("Admission"). The Warrant Shares will rank pari passu
in all respects with the ordinary shares of the Company currently
traded on AIM.
Following Admission, the Company's issued share capital will
comprise 2,064,671,913 ordinary shares of 0.1p each. This number
will represent the total voting rights in the Company and may be
used by shareholders as the denominator for the calculation by
which they can determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the Financial Conduct Authority's Disclosure and Transparency
Rules.
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
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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