REG - Power Metal Res. - Result of General Meeting

Power Metal ResourcesAnnouncement

26/03/2024 12:00

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RNS Number : 3616I  Power Metal Resources PLC  26 March 2024

26 March 2024

Power Metal Resources Plc

("Power Metal" or the "Company")

Result of General Meeting

Power Metal Resources PLC (LON:POW), the London-listed exploration company
seeking large-scale metal discoveries across its global project portfolio,
announces the result of the resolution on the proposed share consolidation of
the Company at its General Meeting held today at 11:00 a.m. at 3-7 Temple
Avenue, Temple, London EC4Y 0DT ("Consolidation Resolution").

The resolution put to members was passed on a poll as ordinary resolution.

The number of votes cast for and against the Consolidation Resolution, and the
number of votes withheld were as follows:

  Ordinary Resolution                                                 Votes for    %      Votes against  %      Votes withheld
 Consolidation Resolution                                             243,480,450  80.05  60,690,430     19.95  968,009

 To approve the consolidation of the ordinary shares of the Company

 

Share Consolidation

 

Following the approval of the Consolidation Resolution, every 20 ordinary
shares of 0.1p each (the "Existing Shares") that are in issue as at 6.00 p.m.
today will be consolidated into one new ordinary share of 2p each (the "New
Ordinary Shares"). Other than the change in nominal value, the New Ordinary
Shares arising on implementation of the Share Consolidation will have the same
rights as the Existing Ordinary Shares, including voting and other rights.

 

The New Ordinary Shares arising from the Share Consolidation will be admitted
to trading on AIM from 8.00 a.m. on 27 March 2024 ("Admission") with ISIN
number GB00BMFSSJ73 and SEDOL code BMFSSJ7.

 

Total Voting Rights

 

Following Admission, the Company's issued share capital will
comprise 110,673,417 New Ordinary Shares with voting rights. This figure
of 110,673,417 New Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the Disclosure Rules and
Transparency Rules of the United Kingdom Financial Conduct Authority.

 

Save as defined herein, capitalised terms have the same meaning as in the
Company's Notice of General Meeting which is available on the Company's
website.

 

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/Caroline Rowe/Harry Davies-Ball                                     +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

 

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