26 March 2024
Power Metal Resources PLC
("Power Metal" or the "Company")
Results of Annual General Meeting
Power Metal Resources PLC (AIM:POW) the London-listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the results of its Annual General Meeting held today.
All 9 resolutions put to members were passed on a poll. Resolutions 1 to 7 were passed as ordinary resolutions and resolutions 8-9 were passed as special resolutions.
The results of the poll (including proxy votes) are outlined in the table below.
The number of votes cast for and against each of the resolutions proposed and the number of votes withheld (including proxy votes) were as follows:
| Resolution | Votes for | % Votes Cast | Votes against | % Votes Cast | Votes withheld |
| Resolution 1 (Ordinary) To receive the report and accounts for the year ended 30 September 2023 | 321,512,695 | 99.85 | 471,094 | 0.15 | 304,006 |
| Resolution 2 (Ordinary) To re-appoint the auditors | 321,567,722 | 99.85 | 471,223 | 0.15 | 248,850 |
| Resolution 3 (Ordinary) To authorise the directors to determine the auditor's fees | 321,473,656 | 99.84 | 526,404 | 0.16 | 287,735 |
| Resolution 4 (Ordinary) To appoint Douglas William Brodie as a director of the company | 321,160,650 | 99.76 | 760,158 | 0.24 | 366,987 |
| Resolution 5 (Ordinary) To appoint Sean Wade as a director of the company | 321,440,650 | 99.85 | 480,158 | 0.15 | 366,987 |
| Resolution 6 (Ordinary) To re-appoint Scott Richardson-Brown as a director of the compnay | 321,212,471 | 99.78 | 708,337 | 0.22 | 366,987 |
| Resolution 7 (Ordinary) To authorise the directors to allot relevant securities
| 321,000,722 | 99.70 | 963,017 | 0.30 | 324,056 |
| Resolution 8 (Special) To disapply pre-emption rights | 273,275,051 | 84.87 | 48,717,573 | 15.13 | 295,171 |
| Resolution 9 (Special) To resolve that the company be and is unconditionally authorised to make market purchases | 320,768,196 | 99.61 | 1,270,749 | 0.39 | 248,850 |
As at 26 March 2024, there were 2,213,468,340 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.
The full text of each resolution is available in the Notice of Annual General Meeting, published on the Company's website.
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/Caroline Rowe/Harry Davies-Ball | +44 (0) 20 3470 0470 |
| | |
|
SI Capital Limited (Joint Broker) | |
| Nick Emerson | +44 (0) 1483 413 500 |
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|
First Equity Limited (Joint Broker) | |
| David Cockbill/Jason Robertson | +44 (0) 20 7330 1883 |
|
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) 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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