14th November 2024
Power Metal Resources
PLC
("Power Metal" or the
"Company")
Grant of Director, Management and Staff
Options
Power Metal Resources PLC (AIM:POW,
OTCQB:POWMF), the London listed exploration company with a
global project portfolio, announces that it has granted
options over 6.4 million new ordinary shares of 2
pence each in the Company ("Ordinary Shares") to certain
Directors and staff members to subscribe for new Ordinary Shares at
an exercise price of £0.20 each with a life to expiry of three
years from yesterday's date.
Power Metal recognises the value of
incentivising team members at all levels through reasonable
salaries combined with equity participation through share options,
aligning the team with shareholder interests.
Further details on the grant of options are
provided below and recognise the contribution made by the team to
the rapid development of the Company and the strategic current
value of its broad-spectrum natural resource-focused exploration
and development portfolio.
Further
Information
3.75 million options have been granted to Power
Metal Board Directors and Officers (the "Director and Officer
Options"). The Director and Officer Options, along with a summary
of existing options held are outlined in the tables
below:
New Director / Officer Options
Granted
|
Director
|
Options
Granted
|
Exercise
price (£)
|
Expiry
|
|
Sean Wade
|
1,350,000
|
0.20
|
13 November 2027
|
|
Scott Richardson Brown
|
850,000
|
0.20
|
13 November 2027
|
|
Edmund Shaw
|
700,000
|
0.20
|
13 November 2027
|
|
Jamie Tosh
|
850,000
|
0.20
|
13 November 2027
|
|
Total
|
3,750,000
|
|
Existing options held by Directors /
Officer
|
Director
|
Existing options held
|
Exercise price (£)
|
Expiry
|
|
Sean Wade
|
625,000
|
0.65
|
10 March
2026
|
|
Sean Wade
|
625,000
|
0.30
|
31 July 2028
|
|
Scott Richardson Brown
|
500,000
|
0.30
|
31 July 2028
|
|
Edmund Shaw
|
500,000
|
0.30
|
31 July 2028
|
|
Douglas William Brodie Good
|
250,000
|
0.65
|
5 June 2026
|
|
Douglas William Brodie Good
|
250,000
|
0.30
|
31 July 2028
|
|
Jamie Tosh
|
275,000
|
0.30
|
31 July 2028
|
|
Total existing
options held
|
3,025,000
|
|
|
A new pool totalling 2.65 million options has
been granted to Power Metal employees, to be allocated in line with
the Board's instructions to non-Board team members, and with the
same terms as the Director Options above ("Team Options"). The Team
Options are in addition to 2 million previously granted options to
the non-board team members (£0.30 exercise price,
expiry 31/07/2028).
Where possible the Director, Officerand Team
Options will be written under new Enterprise Management Initiative
("EMI") schemes for tax efficiency and to maximise the potential
cash return to employees of the Company.
Related Party
Transaction
The issue of the Director Options to Scott
Richardson Brown, Sean Wade and Edmund Shaw has been deemed to
constitute related party transactions for the purposes of AIM Rule
13 of the AIM Rules for Companies.
Douglas William Brodie Good, being the Director
independent of the issue of the Director Options, considers, having
consulted with the Company's nominated adviser, SP Angel Corporate
Finance LLP, the issue of the Director Options in respect of the
related parties are fair and reasonable insofar as the Shareholders
are concerned.
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
|
Scott Richardson Brown
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Chairman
|
|
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
Identification code
|
ordinary shares of 2p each
ISIN: GB00BMFSSJ73
|
|
b)
|
Nature of transaction
|
Issue of options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.20
|
850,000
|
|
|
d)
|
Aggregated information
-
Aggregated volume
-
Price
|
850,000
£0.20
|
|
e)
|
Date of the transaction
|
13 November 2024
|
|
f)
|
Place of the transaction
|
Off Market
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name
|
Sean Edward Wade
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
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
Identification code
|
ordinary shares of 2p each
ISIN: GB00BMFSSJ73
|
|
b)
|
Nature of transaction
|
Issue of Options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.20
|
1,350,000
|
|
|
d)
|
Aggregated information
-
Aggregated volume
-
Price
|
1,350,000
£0.20
|
|
e)
|
Date of the transaction
|
13 November 2024
|
|
f)
|
Place of the transaction
|
Off Market
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name
|
Edmund Shaw
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Non-executive Director
|
|
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
Identification code
|
ordinary shares of 2p each
ISIN: GB00BMFSSJ73
|
|
b)
|
Nature of transaction
|
Issue of Options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.20
|
700,000
|
|
|
d)
|
Aggregated information
-
Aggregated volume
-
Price
|
700,000
£0.20
|
|
e)
|
Date of the transaction
|
13 November 2024
|
|
f)
|
Place of the transaction
|
Off Market
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name
|
Jamie Tosh
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Chief Operating 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
Identification code
|
ordinary shares of 2p each
ISIN: GB00BMFSSJ73
|
|
b)
|
Nature of transaction
|
Issue of Options
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.20
|
850,000
|
|
|
d)
|
Aggregated information
-
Aggregated volume
-
Price
|
850,000
£0.20
|
|
e)
|
Date of the transaction
|
13 November 2024
|
|
f)
|
Place of the transaction
|
Off Market
|
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of
MAR.
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 LLP
(Nomad and Joint Broker)
|
|
|
Ewan Leggat/Caroline Rowe
|
+44 (0) 20 3470 0470
|
|
|
|
|
Tamesis Partners LLP (Joint
Broker)
|
|
|
Richard Greenfield/Charlie Bendon
|
+44 (0) 20 3882 2868
|
|
|
|
|
BlytheRay (PR Advisors)
Tim Blythe/Megan Ray
|
+44 (0) 20 7138 3204
|
NOTES TO EDITORS
Power Metal Resources plc -
Background
Power Metal Resources
plc (AIM:POW, OTCQB:POWMF) is a London-listed metals
exploration company 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 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.