REG - Oracle Power PLC - Directors Elect to Continue Share Purchase Plan

Oracle PowerAnnouncement

29/09/2022 07:01

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RNS Number : 0701B  Oracle Power PLC  29 September 2022

29 September 2022

Oracle Power PLC

("Oracle" or the "Company")

 

Directors Elect to Continue Share Purchase Plan

 

Oracle Power PLC (AIM: ORCP), the international natural resources project
developer, is pleased to announce that, each of the Directors of the Company
has elected to enter a second MAR compliant Director Share Purchase Plan
("Director Purchase Plan"), for 12 months, commencing in October 2022.

 

Pursuant to the Director Purchase Plan, each Director has irrevocably
instructed the Company to direct 10% of net monthly salary/fees to an
appointed broker to automatically make market purchases of shares in Oracle on
a monthly basis on behalf of each Director.

 

The appointed broker will purchase shares from the market on or around the
fifth trading day of each calendar month for a period of 12 months, ending
September 2023.  Accordingly, the first purchases under the Director Purchase
Plan are expected to occur on or around 7 October 2022.

 

As a result of entering into the Director Purchase Plan, each Director will be
committed to make the monthly purchase of shares under the Director Purchase
Plan in what otherwise may be a closed period. Entering into the Director
Purchase Plan will not preclude the director from buying additional shares in
the Company during open periods.

The market will be notified of the share purchases under the Director Purchase
Plan on the next trading day via a PDMR: Director's dealing notification.

CEO of Oracle, Naheed Memon, commented: "I am very pleased to see that all of
Oracle's Directors, including myself, have elected to continue to take part in
the Director Purchase Plan for another year. Over the last 12 months we as a
Company have seen significant progress across our portfolio of energy and
natural resources projects, particularly with the rapid advancement of our new
green hydrogen project and continued development of our assets in Australia
and at Thar. It is therefore encouraging to see this vote of confidence in
Oracle's future from the Directors as our projects continue to advance."

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, James Harris, Rob Patrick
                        +44 (0) 20 7409 3494

 

St Brides Partners Limited (Financial PR)

Susie Geliher, Catherine Leftley
                                   +44 (0) 20 7236 1177

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
Shaikh Ahmed Dalmook Al Maktoum. The Company's initial project is the Thar
Block VI Project in south-east Pakistan where the Company is advancing plans
for a combined lignite coal mine, a 1,320MW mine mouth power plant and a
proposed coal gasification to urea 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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