TIDMPOW

RNS Number : 8220U

Power Metal Resources PLC

30 March 2023

30 March 2023

Power Metal Resources PLC

("Power Metal" or the "Company")

Results of Annual 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 results of its Annual General Meeting held today.

All 8 resolutions put to members were passed on a poll. Resolutions 1 to 6 were passed as ordinary resolutions and resolutions 7-8 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     Votes     % Votes     Votes 
                                            Cast     against      Cast     withheld 
 Resolution 1 
  (Ordinary) 
  To receive the 
  report and accounts 
  for the year ended 
  30 September 2022         164,656,922    99.72     459,109     0.28%     78,146 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 2 
  (Ordinary) 
  To re-appoint 
  the auditors              164,978,142    99.88     199,627     0.12%     16,408 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 3 
  (Ordinary) 
  To authorise the 
  directors to determine 
  the auditor's 
  fees                      165,046,481    99.93     111,288     0.07%     36,408 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 4 
  (Ordinary) 
  To appoint Owain 
  Morton                    164,759,664    99.88     202,780     0.12%     231,733 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 5 
  (Ordinary) 
  To re-appoint 
  Edmund Shaw               163,980,579    99.74     427,694     0.26%     785,904 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 6 
  (Ordinary) 
  To authorise the 
  directors to allot 
  equity                    164,464,061    99.60     659,537     0.40%     70,579 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 7 
  (Special) To disapply 
  pre-emption rights        163,282,428    99.00    1,649,941    1.00%     261,808 
                           ------------  --------  ----------  --------  ---------- 
 Resolution 8 
  (Special) To authorise 
  the buyback of 
  Company shares            164,321,240    99.54     759,627     0.46%     113,310 
                           ------------  --------  ----------  --------  ----------

As at 30 March 2023, there were 1,739,033,678 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/Charlie Bouverat                          +44 (0) 20 3470 0470 
 
SI Capital Limited (Joint Broker) 
Nick Emerson                                          +44 (0) 1483 413 500 
 
First Equity Limited (Joint Broker) 
David Cockbill/Jason Robertson                        +44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

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 drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

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END

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