REG - Power Metal Res. - Directions Hearing for Share Capital Reduction

Power Metal ResourcesAnnouncement

21/11/2025 18:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251121:nRSU6214Ia&default-theme=true

RNS Number : 6214I  Power Metal Resources PLC  21 November 2025

21 November 2025

 

Power Metal Resources PLC

("Power Metal" or the "Company")

 

Directions Hearing for Share Capital Reduction

 

Power Metal Resources Plc (AIM: POW, OTCQB: POWMF), the London listed natural
resources exploration company and project incubator with a global project
portfolio, provides an update on the hearing for directions ("Directions
Hearing") in the High Court of Justice, Business and Property Courts of
England and Wales, Companies Court (the "Court") which was attended by
representatives of the Company today in connection with the Company's
application to approve the reduction of its share capital ("Share Capital
Reduction").

 

The Company notes that that the claim was adjourned for hearing on 9 December
2025 (the "Confirmation Hearing") when any creditor or shareholder of the
Company who desires to object may attend and be heard.

 

The Company will make further announcements in due course as appropriate.

 

Background

As announced on 19 September 2025, the Company is proposing a Share Capital
Reduction in accordance with the Companies Act 2006. The Share Capital
Reduction, once confirmed by the Court, will create distributable reserves to
provide the Company with flexibility for future distributions and corporate
purposes.

 

Expected Timetable

The timetable for the remaining principal events in connection with the Share
Capital Reduction are as follows:

 

 Confirmation Hearing                                                       9 December 2025
 Expected date for the Share Capital Reduction to be effective ("Effective  On or around 24 December 2025
 Date")

 

*Each of the times and dates set out in the above timetable are subject to
change by the Company, in which event details of new times and dates will be
notified by a further announcement by the Company. In particular, the expected
date for the Confirmation Hearing to confirm the Share Capital Reduction, and
the expected Effective Date of the Share Capital Reduction are based on
provisional dates. The dates are also subject to any directions of the Court
and the date for the registration of the court order is dependent upon,
amongst other things, the date on which the Court confirms the Share Capital
Reduction and the date that all filings have been completed by the Registrar
of Companies at Companies House.

 

The Company will make further announcements in due course as appropriate.

 

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 LLP (Nomad and Joint Broker)
 Ewan Leggat/Jen Clarke                                   +44 (0) 20 3470 0470

 Tamesis Partners LLP (Joint Broker)
 Richard Greenfield/Charlie Bendon                        +44 (0) 20 3882 2868

 BlytheRay (PR Advisors)
 Tim Blythe/Alastair Roberts                              +44 (0) 20 7138 3204

 powermetalresources@blytheray.com

NOTES TO EDITORS

 Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-listed
 natural resources exploration company and project incubator 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, Saudi
 Arabia, Oman 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.

NOTES TO EDITORS

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-listed
natural resources exploration company and project incubator 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, Saudi
Arabia, Oman 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.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFELFAFEISEEF



            Copyright 2019 Regulatory News Service, all rights reserved