26 March 2024
Power Metal Resources Plc
("Power Metal" or the "Company")
Result of General Meeting
Power Metal Resources PLC (LON:POW), the London-listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces the result of the resolution on the proposed share consolidation of the Company at its General Meeting held today at 11:00 a.m. at 3-7 Temple Avenue, Temple, London EC4Y 0DT ("Consolidation Resolution").
The resolution put to members was passed on a poll as ordinary resolution.
The number of votes cast for and against the Consolidation Resolution, and the number of votes withheld were as follows:
| Ordinary Resolution | Votes for | % | Votes against | % | Votes withheld |
| Consolidation Resolution To approve the consolidation of the ordinary shares of the Company | 243,480,450 | 80.05 | 60,690,430 | 19.95 | 968,009 |
Share Consolidation
Following the approval of the Consolidation Resolution, every 20 ordinary shares of 0.1p each (the "Existing Shares") that are in issue as at 6.00 p.m. today will be consolidated into one new ordinary share of 2p each (the "New Ordinary Shares"). Other than the change in nominal value, the New Ordinary Shares arising on implementation of the Share Consolidation will have the same rights as the Existing Ordinary Shares, including voting and other rights.
The New Ordinary Shares arising from the Share Consolidation will be admitted to trading on AIM from 8.00 a.m. on 27 March 2024 ("Admission") with ISIN number GB00BMFSSJ73 and SEDOL code BMFSSJ7.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 110,673,417 New Ordinary Shares with voting rights. This figure of 110,673,417 New Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Rules and Transparency Rules of the United Kingdom Financial Conduct Authority.
Save as defined herein, capitalised terms have the same meaning as in the Company's Notice of General Meeting which is available on the Company's website.
For further information please visit https://www.powermetalresources.com/ or contact:
| 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/Caroline Rowe/Harry Davies-Ball | +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 |
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| BlytheRay (PR Advisors) | +44 (0) 20 7138 3204 |
| Tim Blythe | |
| Megan Ray | |
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