Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company was notified that yesterday Value Generation Limited, a company beneficially owned by Paul Johnson, Chief Executive Officer of the Company, purchased on market 500,000 ordinary shares of 0.1 pence each in the Company (“Ordinary Shares”) at a price of 1.15p per Ordinary Share (£5,750 invested).
In addition, yesterday Paul Johnson purchased 500,000 Ordinary Shares through his Self-Invested Personal Pension (“SIPP”) at a price of 1.15p per share (a further £5,750 invested).
Following the above purchases Mr Johnson has a beneficial interest in a total of 58,000,000 Ordinary Shares, representing approximately 7.09% of the issued share capital of the Company.
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|
|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)|
|– Aggregated volume||1,000,000|
|– Price||1.15 pence|
|e)||Date of the transaction||08 October 2020|
|f)||Place of the transaction||XLON|
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/ 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|
Notes to Editors:
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.
The Company has a global portfolio of project interests including precious metals exploration in North America and Australia together with base metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage drill ready prospects.
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.