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LONDON - Power Metal Resources plc (AIM:POW, OTCQB:POWMF), a metals exploration company with a diverse global project portfolio, announced significant share purchases by two of its directors. On Wednesday, Chief Executive Officer Sean Wade and Non-Executive Director Edmund Shaw acquired additional ordinary shares of the company.
Following these transactions, Mr. Wade’s beneficial interest in Power Metal has risen to 1,442,035 ordinary shares, which is approximately 1.25% of the issued share capital. Similarly, Mr. Shaw’s stake has increased to 950,000 ordinary shares, representing around 0.82% of the issued share capital.
The purchases were made at varying prices ranging from 12.0 to 12.925 pence for Mr. Wade’s shares, totaling 503,800 shares, and from 12.15 to 12.91 pence for Mr. Shaw’s 200,000 shares. Both transactions occurred on the London Stock Exchange (LON:LSEG) (XLON).
Power Metal Resources, which is actively engaged in financing and managing resource projects aimed at large-scale metal discoveries, has interests in projects at various stages of exploration across North America, Africa, Saudi Arabia, and Australia. The company’s strategy includes developing projects internally or through joint ventures until they are ready for sale or independent listing, which could potentially generate returns for shareholders.
The share dealings by the company’s directors are a standard disclosure in compliance with the EU Market Abuse Regulation, which is part of UK domestic law following the European Union (Withdrawal) Act 2018.
This announcement is based on a press release statement from Power Metal Resources plc and provides investors with the latest developments in the company’s management activities.
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