REG - Power Metal Res. - High Court Approval of Share Capital Reduction

Power Metal ResourcesAnnouncement

Tue 18:30

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RNS Number : 9088K  Power Metal Resources PLC  09 December 2025

9 December 2025

 

Power Metal Resources PLC

("Power Metal" or the "Company")

 

High Court Approval of Share Capital Reduction

 

 

Power Metal Resources PLC (AIM:POW) is a London listed natural resources
exploration company and project incubator with a global project portfolio. The
Company announced its intention to reduce its share capital ("Reduction") in
accordance with the Companies Act 2006 on 19 September 2025. The purpose of
the Reduction is to create distributable reserves to provide the Company with
flexibility for future distributions and corporate purposes.

 

High Court Approval

Further to the announcement containing a notice of general meeting ("General
Meeting") on 20 October 2025, the announcement containing the results of the
General Meeting on 10 November 2025, and announcement confirming that the
directions hearing took place on 21 November 2025, the Company now announces
that the High Court of Justice, Business and Property Courts of England and
Wales, Insolvency and Companies List (ChD), (the "Court") has today made an
order confirming the Reduction under Section 641 Companies Act 2006 (the
"Order").

The Reduction was approved by special resolution of the shareholders at the
Company's General Meeting held on 10 November 2025, and involved the
cancellation of:

 

i.              All of the paid up capital to the extent of
£0.009 on each issued Deferred Share;

ii.             All of the paid up capital to the extent of
£0.00099 on each issued Deferred A Share;

iii.            The Company's Share Premium Account; and

iv.            The Companies Capital Redemption Reserve.

 

The Reduction did not affect the number of ordinary shares ("Ordinary Shares")
in issue, which is still 115,610,437, nor did it affect their nominal value or
the rights attaching to them. The change relates solely to the accounting
treatment of the Company's Share Premium Account and Capital Redemption
Reserve.

 

The Order confirming the Share Capital Reduction, a statement of capital
approved by the Court, and an amended version of the Company's Articles of
Association are expected to be registered by the Registrar of Companies at
Companies House no later than 24 December 2025. Following registration at
Companies House, the Share Capital Reduction will be effective. A further
announcement will be posted in this regard.

 

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.

 

 

 

 

 

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