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:
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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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