Power Metal Resources PLC
(“Power Metal” or the “Company”)
Former Director Exercise of Warrants
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an exercise of warrants.
Warrant Exercise
The Company has received a notice to exercise warrants from former director Paul Johnson over 6,250,000 new ordinary shares of 0.1 pence each in the Company (“Warrant Shares”) at an exercise price of 0.7p per Warrant Share and raising an additional £43,750 for the Company.
As a result of this exercise Paul Johnson and Michelle Johnson will hold 82,250,000 Power Metal shares equating to 3.98% of issued share capital.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the 6,250,000 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 26 May 2023 (“Admission”). The Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
Following Admission, the Company’s issued share capital will comprise 2,064,671,913 ordinary shares of 0.1p 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:
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Power Metal Resources plc |
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Sean Wade (Chief Executive Officer) |
+44 (0) 20 3778 1396 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |