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LONDON - Power Metal Resources PLC (AIM:POW, OTCQB:POWMF) announced Friday that its hearing for directions in the High Court regarding its proposed share capital reduction has been adjourned to December 9, 2025.
The London-listed natural resources exploration company attended the initial directions hearing at the High Court of Justice, Business and Property Courts of England and Wales on Friday. The adjourned hearing will serve as the confirmation hearing where any creditor or shareholder wishing to object may attend and be heard.
The share capital reduction, initially announced on September 19, aims to create distributable reserves that would provide the company with flexibility for future distributions and corporate purposes, according to the company’s statement based on its press release.
If approved at the confirmation hearing, the share capital reduction is expected to become effective around December 24, 2025. The company noted that these dates are provisional and subject to court directions and completion of necessary filings with the Registrar of Companies at Companies House.
Power Metal Resources, which focuses on district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa, Saudi Arabia, Oman and Australia, said it will provide further updates as appropriate.
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