Power Metal Resources PLC Issue of Equity (5872O)
03 Octubre 2023 - 12:11PM
UK Regulatory
TIDMPOW
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 GBP9,375. A
further 2,068,965 Fee Shares have been issued to a professional
services provider in lieu of fees incurred to the value of
GBP15,000.
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/ 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
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.
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END
IOEUOABRORURRAA
(END) Dow Jones Newswires
October 03, 2023 13:11 ET (17:11 GMT)
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