REG - Oracle Power PLC - Director Share Purchases

Oracle PowerAnnouncement

17/01/2023 07:00

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RNS Number : 9010M  Oracle Power PLC  17 January 2023

 

17 January 2023

Oracle Power PLC

("Oracle" or the "Company")

 

Director share purchases

 

Oracle Power PLC (AIM: ORCP), a developer of green hydrogen, is pleased to
announce that the Directors of the Company have purchased ordinary shares in
the Company as part of the MAR compliant Director Share Purchase Plan
("Director Purchase Plan") as previously announced.

 

The following share purchases were made on 16 January 2023:

 

 DIRECTOR        POSITION                ORDINARY SHARES PURCHASED  PRICE PER ORDINARY SHARE  TOTAL BENEFICIAL INTEREST  % ISSUED SHARE CAPITAL
 Mark Steed      Non-Executive Chairman  62,726                     0.22 pence                24,787,665                 0.805%

 Naheed Memon    CEO                     550,229                    0.22 pence                112,998,818                3.671%
 David Hutchins  Non-Executive Director  83,635                     0.22 pence                873,917                    0.028%

 

Further details of the Director Purchase Plan can be found in the Company's
announcement of 29 September 2022.

 

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018 (as amended).

 

*ENDS*

 

For further information on Oracle Power PLC, visit the Company's website
http://www.oraclepower.co.uk (http://www.oraclepower.co.uk) or contact:

 

Oracle Power PLC

Naheed Memon -
CEO
+44 (0) 203 580 4314

 

Strand Hanson Limited (Nominated Adviser and Broker)

Rory Murphy, Matthew Chandler, Rob Patrick
                +44 (0) 20 7409 3494

 

Buchanan (Financial PR)

Bobby Morse/ Oonagh Reidy/Abigail Gilchrist
                +44 (0) 203 7466 5000

 

Details of the full notifications received by the Company are set out below:

 

 1.                          Details of the person discharging managerial responsibilities / person closely
                             associated
 a.                          Name                                                                        1.     Mark Steed

                                                                                                         2.     Naheed Memon

                                                                                                         3.     David Hutchins
 2.                          Reason for the notification
 a.                          Position/status                                                             1.     Non-Executive Chairman

                                                                                                         2.     CEO

                                                                                                         3.     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                                                                        Oracle Power PLC
 b.                          LEI                                                                         213800KTG8HX1WBCAA49
 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 instrument, type of instrument Identification  Ordinary Shares of £0.001 each
                             code

                                                                                                         GB00B23JN426

 b.                          Nature of the transaction                                                   Purchase of Ordinary Shares
 c.                          Price(s) and volume(s)

Director       Price/share  Volume (s)
                                                                                                         1. M Steed     0.22 pence   62,726

                                                                                                         2. N Memon     0.22 pence   550,229

                                                                                                         3. D Hutchins  0.22 pence   83,635
 d.                          Aggregated information

                             -       Aggregated volume                                                   696,590

                             -       Price                                                               £0.0022 per Ordinary Share
 e.                          Date of the transactions                                                    16 January 2023
 f.                          Place of the transactions                                                   London Stock Exchange's AIM Market (XLON)

d.

Aggregated information

-       Aggregated volume

-       Price

 

696,590

£0.0022 per Ordinary Share

e.

Date of the transactions

16 January 2023

f.

Place of the transactions

London Stock Exchange's AIM Market (XLON)

 

About Oracle Power PLC

Oracle Power PLC is an international natural resource and power project
developer quoted on London's AIM market. The Company currently has two areas
of focus: Western Australia and Pakistan. The Company is active in the energy
industry in Pakistan and is working to establish a green hydrogen production
facility through Oracle Energy Limited, a joint venture with His Highness
Sheikh Ahmed Dalmook Al Maktoum.

 

Oracle Energy Limited has been set up as the project development company and
is funded on a 70:30 basis by Kaheel Energy (100% owned by His Highness Sheikh
Ahmed Dalmook Al Maktoum) and Oracle Power PLC respectively.  The project
development company provides a vehicle to support the accelerated development
of the green hydrogen project to meet the growing international and domestic
demand of green hydrogen and clean energy.

 

The Company also continues to advance towards the development of its Thar
Block VI Project in south-east Pakistan into a mine, a power plant and a
proposed coal gasification project.

 

In Australia, its primary focus is the Northern Zone Gold Project, located
25km east of the major gold mining centre of Kalgoorlie, the home of the
'Super Pit' mine, the second largest gold mine in Australia.  Northern Zone
has a current Exploration Target of 200-250Mt at 0.4-0.6g/t Au for between 2.5
- 4.8Moz gold, with drilling being planned to define a maiden inferred JORC
resource.

 

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