Source - RNS
RNS Number : 3543O
Power Metal Resources PLC
29 May 2020
 

 

29 May 2020

Power Metal Resources plc ("POW" or the "Company")

("POW" or the "Company")

Directors dealings

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that, on 28 May 2020, Value Generation Limited, a company beneficially owned by Paul Johnson, the CEO of the Company, purchased on market 3,500,000 Ordinary Shares of 0.1 pence each ("Ordinary Shares") at a price of 0.39 pence per Ordinary Share as follows:

 


Number of Ordinary Shares

Price per Ordinary Share

Cost






1,000,000

0.39p

£3,900


1,500,000

0.39p

£5,850


1,000,000

0.39p

£3,900





Total

3,500,000


£13,650

 

 

Following this purchase Mr Johnson has a beneficial interest in a total of 31,600,000 Ordinary Shares, representing approximately 5.72% of the issued share capital of the Company.

 

 

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

 

 

 

1.  Paul Johnson

 

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

1.  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 0.1p each



Identification code

ISIN: GB00BYWJZ743



b)

 

Nature of the transaction

 

 

 

1.  Purchase of shares

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




0.39 pence

0.39 pence

0.39 pence

1,000,000

1,500,000

1,000,000







d)

 

Aggregated information




- Aggregated volume

3,500,000

 



- Price

0.39p



e)

 

Date of the transaction

 

 

28 May 2020

f)

 

Place of the transaction

 

 

XLON

 

**Ends**

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc


Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617



SP Angel Corporate Finance (Nomad and Joint Broker)


Ewan Leggat

+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

 


 

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company exploring for the key metals used in power generation, transmission, storage and utilisation. The Board and team of advisors, who have proven expertise in exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the power metal commodity suite, particularly cobalt, lithium, copper and nickel. 

 


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