REG - Power Metal Res. - Grant of Director, Management and Staff Options
14/11/2024 15:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241114:nRSN3134Ma&default-theme=true
RNS Number : 3134M Power Metal Resources PLC 14 November 2024
14(th) November 2024
Power Metal Resources PLC
("Power Metal" or the "Company")
Grant of Director, Management and Staff Options
Power Metal Resources PLC (AIM:POW, OTCQB:POWMF), the London listed
exploration company with a global project portfolio, announces that it has
granted options over 6.4 million new ordinary shares of 2 pence each in the
Company ("Ordinary Shares") to certain Directors and staff members to
subscribe for new Ordinary Shares at an exercise price of £0.20 each with a
life to expiry of three years from yesterday's date.
Power Metal recognises the value of incentivising team members at all levels
through reasonable salaries combined with equity participation through share
options, aligning the team with shareholder interests.
Further details on the grant of options are provided below and recognise the
contribution made by the team to the rapid development of the Company and the
strategic current value of its broad-spectrum natural resource-focused
exploration and development portfolio.
Further Information
3.75 million options have been granted to Power Metal Board Directors and
Officers (the "Director and Officer Options"). The Director and Officer
Options, along with a summary of existing options held are outlined in the
tables below:
New Director / Officer Options Granted
Director Options Granted Exercise price (£) Expiry
Sean Wade 1,350,000 0.20 13 November 2027
Scott Richardson Brown 850,000 0.20 13 November 2027
Edmund Shaw 700,000 0.20 13 November 2027
Jamie Tosh 850,000 0.20 13 November 2027
Total 3,750,000
Existing options held by Directors / Officer
Director Existing options held Exercise price (£) Expiry
Sean Wade 625,000 0.65 10 March 2026
Sean Wade 625,000 0.30 31 July 2028
Scott Richardson Brown 500,000 0.30 31 July 2028
Edmund Shaw 500,000 0.30 31 July 2028
Douglas William Brodie Good 250,000 0.65 5 June 2026
Douglas William Brodie Good 250,000 0.30 31 July 2028
Jamie Tosh 275,000 0.30 31 July 2028
Total existing options held 3,025,000
A new pool totalling 2.65 million options has been granted to Power Metal
employees, to be allocated in line with the Board's instructions to non-Board
team members, and with the same terms as the Director Options above ("Team
Options"). The Team Options are in addition to 2 million previously granted
options to the non-board team members (£0.30 exercise price,
expiry 31/07/2028).
Where possible the Director, Officerand Team Options will be written under new
Enterprise Management Initiative ("EMI") schemes for tax efficiency and to
maximise the potential cash return to employees of the Company.
Related Party Transaction
The issue of the Director Options to Scott Richardson Brown, Sean Wade and
Edmund Shaw has been deemed to constitute related party transactions for the
purposes of AIM Rule 13 of the AIM Rules for Companies.
Douglas William Brodie Good, being the Director independent of the issue of
the Director Options, considers, having consulted with the Company's nominated
adviser, SP Angel Corporate Finance LLP, the issue of the Director Options in
respect of the related parties are fair and reasonable insofar as the
Shareholders are concerned.
PDMR DISCLOSURE
The notifications below, made in accordance with the requirements of the EU
Market Abuse Regulation, provide further detail on the director's share
dealing.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Scott Richardson Brown
2 Reason for the notification
a) Position/status Chairman
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Power Metal Resources Plc
b) LEI 213800VNXOUPHTX53686
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 ordinary shares of 2p each
Identification code
ISIN: GB00BMFSSJ73
b) Nature of transaction Issue of options
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.20 850,000
d) Aggregated information
- Aggregated volume 850,000
- Price £0.20
e) Date of the transaction 13 November 2024
f) Place of the transaction Off Market
d)
Aggregated information
- Aggregated volume
- Price
850,000
£0.20
e)
Date of the transaction
13 November 2024
f)
Place of the transaction
Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Sean Edward Wade
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Power Metal Resources Plc
b) LEI 213800VNXOUPHTX53686
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 ordinary shares of 2p each
Identification code
ISIN: GB00BMFSSJ73
b) Nature of transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.20 1,350,000
d) Aggregated information
- Aggregated volume 1,350,000
- Price £0.20
e) Date of the transaction 13 November 2024
f) Place of the transaction Off Market
d)
Aggregated information
- Aggregated volume
- Price
1,350,000
£0.20
e)
Date of the transaction
13 November 2024
f)
Place of the transaction
Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Edmund Shaw
2 Reason for the notification
a) Position/status 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 Power Metal Resources Plc
b) LEI 213800VNXOUPHTX53686
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 ordinary shares of 2p each
Identification code
ISIN: GB00BMFSSJ73
b) Nature of transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.20 700,000
d) Aggregated information
- Aggregated volume 700,000
- Price £0.20
e) Date of the transaction 13 November 2024
f) Place of the transaction Off Market
d)
Aggregated information
- Aggregated volume
- Price
700,000
£0.20
e)
Date of the transaction
13 November 2024
f)
Place of the transaction
Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Jamie Tosh
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Power Metal Resources Plc
b) LEI 213800VNXOUPHTX53686
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 ordinary shares of 2p each
Identification code
ISIN: GB00BMFSSJ73
b) Nature of transaction Issue of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.20 850,000
d) Aggregated information
- Aggregated volume 850,000
- Price £0.20
e) Date of the transaction 13 November 2024
f) Place of the transaction Off Market
d)
Aggregated information
- Aggregated volume
- Price
850,000
£0.20
e)
Date of the transaction
13 November 2024
f)
Place of the transaction
Off Market
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
For further information please visit https://www.powermetalresources.com/
(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/Caroline Rowe +44 (0) 20 3470 0470
Tamesis Partners LLP (Joint Broker)
Richard Greenfield/Charlie Bendon +44 (0) 20 3882 2868
BlytheRay (PR Advisors) +44 (0) 20 7138 3204
Tim Blythe/Megan Ray
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (AIM:POW, OTCQB:POWMF) is a London-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, Saudi Arabia 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 DSHFFSFLLELSEIFRecent news on Power Metal Resources
See all newsREG - Guardian Metal Rsrc. Power Metal Res. - Holding(s) in Company
AnnouncementREG - Power Metal Res. - Block 8: Initial Ground Gravimetric Survey Results
AnnouncementREG - Power Metal Res. - Uranium JV: Drake Lake-Silas Property Update
AnnouncementREG - Power Metal Res. - Silver Peak Project Interest Disposal
AnnouncementREG - First Class Metals Power Metal Res. - Holding(s) in Company
Announcement