REG - Oracle Power PLC - Directorate change and director share purchases

Oracle PowerAnnouncement

13/12/2022 17:15

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RNS Number : 5959J  Oracle Power PLC  13 December 2022

 

13 December 2022

Oracle Power PLC

("Oracle" or the "Company")

 

Directorate change and director share purchases

 

Oracle Power PLC (AIM: ORCP), a developer of green hydrogen, announces that
Andreas Migge, Non-Executive Director, has now left the board of the Company
with immediate effect.  The Board would like to thank Andreas for his
contribution to the development of the Company to date and wishes him well in
his future endeavours.

 

The Company is also 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 13 December 2022:

 

 DIRECTOR        POSITION                ORDINARY SHARES PURCHASED  PRICE PER ORDINARY SHARE  TOTAL BENEFICIAL INTEREST  % ISSUED SHARE CAPITAL
 Mark Steed      Non-Executive Chairman  57,499                     0.225 pence               24,724,939                 0.803%

 Naheed Memon    CEO                     504,377                    0.225 pence               112,448,589                3.653%
 David Hutchins  Non-Executive Director  76,665                     0.225 pence               790,282                    0.026%

 

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     0.225 pence  57,499

                                                                                                         2. N Memon     0.225 pence  504,377

                                                                                                         3. D Hutchins  0.225pence   76,665
 d.                          Aggregated information

                             -       Aggregated volume                                                   638,541

                             -       Price                                                               £0.00225 per Ordinary Share
 e.                          Date of the transactions                                                    13 December 2022
 f.                          Place of the transactions                                                   London Stock Exchange's AIM Market (XLON)

d.

Aggregated information

-       Aggregated volume

-       Price

 

638,541

£0.00225 per Ordinary Share

e.

Date of the transactions

13 December 2022

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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