Business
High Court Approval of Share Capital Reduction
Power Metal Resources PLC has received High Court approval for its share capital reduction, which aims to create distributable reserves for future flexibility. This reduction involves cancelling paid-up capital on deferred shares, the Company's Share Premium Account, and the Capital Redemption Reserve, but it does not alter the number of ordinary shares in issue, which remains 115,610,437. The Order is expected to be registered at Companies House by December 24, 2025, at which point the reduction will become effective. Disclaimer*
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n9 December 2025\n \nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\n \nHigh Court Approval of Share Capital Reduction\n \n \nPower Metal Resources PLC (AIM:POW) is a London listed natural resources exploration company and project incubator with a global project portfolio. The Company announced its intention to reduce its share capital (\"Reduction\") in accordance with the Companies Act 2006 on 19 September 2025. The purpose of the Reduction is to create distributable reserves to provide the Company with flexibility for future distributions and corporate purposes.\n \nHigh Court Approval\nFurther to the announcement containing a notice of general meeting (\"General Meeting\") on 20 October 2025, the announcement containing the results of the General Meeting on 10 November 2025, and announcement confirming that the directions hearing took place on 21 November 2025, the Company now announces that the High Court of Justice, Business and Property Courts of England and Wales, Insolvency and Companies List (ChD), (the \"Court\") has today made an order confirming the Reduction under Section 641 Companies Act 2006 (the \"Order\").\nThe Reduction was approved by special resolution of the shareholders at the Company's General Meeting held on 10 November 2025, and involved the cancellation of:\n \ni. All of the paid up capital to the extent of £0.009 on each issued Deferred Share;\nii. All of the paid up capital to the extent of £0.00099 on each issued Deferred A Share;\niii. The Company's Share Premium Account; and\niv. The Companies Capital Redemption Reserve.\n \nThe Reduction did not affect the number of ordinary shares (\"Ordinary Shares\") in issue, which is still 115,610,437, nor did it affect their nominal value or the rights attaching to them. The change relates solely to the accounting treatment of the Company's Share Premium Account and Capital Redemption Reserve.\n \nThe Order confirming the Share Capital Reduction, a statement of capital approved by the Court, and an amended version of the...