For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231003:nRSC5872Oa&default-theme=true
RNS Number : 5872O Power Metal Resources PLC 03 October 2023
3 October 2023
Power Metal Resources PLC
("Power Metal" or the "Company")
Issue of Equity
Power Metal Resources PLC (AIM:POW), the AIM listed metals exploration and
development company, announces that it has today agreed to issue 1,293,103
new ordinary shares of 0.1 pence each in the Company at a price of 0.725
pence per share ("Fee Shares") to SP Angel Corporate Finance LLP, the
Company's nominated adviser and joint broker, in lieu of fees incurred to the
value of £9,375. A further 2,068,965 Fee Shares have been issued to a
professional services provider in lieu of fees incurred to the value of
£15,000.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for 3,362,068 Fee Shares to be admitted to trading on
AIM which is expected to occur on or around 9 October 2023 ("Admission"). The
Fee Shares will rank pari passu in all respects with the existing Ordinary
Shares currently traded on AIM.
Following Admission, the Company's issued share capital will
comprise 2,083,468,324 ordinary shares of 0.1 pence each. This number will
represent the total voting rights in the Company and may be used by
shareholders as the denominator for the calculation by which they can
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct Authority's
Disclosure and Transparency Rules.
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 (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson +44 (0) 1483 413 500
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson +44 (0) 20 7330 1883
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat
+44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson
+44 (0) 1483 413 500
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson
+44 (0) 20 7330 1883
BlytheRay (PR Advisors) +44 (0) 20 7138 3204
Tim Blythe
Megan Ray
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration
company which finances and manages global resource projects.
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 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 grow the
Company, 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 IOEUOABRORURRAA