Business
Notice of General Meeting
Power Metal Resources PLC announced a proposed share capital reduction to create distributable reserves for potential capital returns to shareholders. The company intends to cancel its Non-Voting Shares, Share Premium Account, and Capital Redemption Reserve. This reduction aims to eliminate the deficit in accumulated losses on the balance sheet, creating a positive balance. Shareholder approval will be sought at a General Meeting on November 10, 2025, to approve the reduction and cancellation of paid-up capital to the extent of £0.009 on each issued Deferred Share and £0.00099 on each Deferred A Share, along with the cancellation of the Share Premium Account and Capital Redemption Reserve. The company will then seek court confirmation for the Share Capital Reduction. Disclaimer*
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n20 October 2025\n \nPower Metal Resources PLC\n \n(\"Power Metal\", \"POW\" or the \"Company\")\n \nProposed Share Capital Reduction\n \nand\n \nNotice of General Meeting\n \nPower Metal Resources PLC (AIM:POW), the London listed natural resources exploration company and project incubator with a global project portfolio, announces that a circular (the \"Circular\") providing details of the Board's proposed share capital reduction (\"Share Capital Reduction\") will be posted to the shareholders today, containing a Notice of General Meeting (\"Notice of GM\") to take place at Guildhall Room, 85 Gresham Street, London, EC2V 7NQ, United Kingdom, at 10:30a.m. (London time), on Monday 10 November 2025. The Share Capital Reduction is being advanced in connection with the RNS released on 19 September 2025 and is an ordinary course Share Capital Reduction with the intention of creating sufficient distributable reserves to facilitate a potential return of capital to shareholders. A copy of the Circular and Notice of GM will shortly be available on the Company's website at www.powermetalresources.com.\n \nProposed Share Capital Reduction\nThe Board is of the view that it would benefit the Company and the Company's shareholders to effect the Share Capital Reduction by cancelling its: (i) Deferred Shares and Deferred A Shares (none of which carry any rights to vote, participate in the profits of the Company or in any distribution of the Company's assets, save in limited circumstances upon a winding-up, collectively, hereinafter referred to as the \"Non-Voting Shares\"), (ii) Share Premium Account, and (iii) Capital Redemption Reserve.\n \nThe Company may then apply the sums resulting from the Share Capital Reduction to its distributable reserves providing the Company with the flexibility to be able to absorb future losses and/or (subject to compliance with applicable laws) effect distributions or other returns of capital to shareholders.\n \nIt is anticipated that the cancellation of the Non-Voting Shares and the balance of the Share Premium Account will, subject to the discharge of any undertakings or consents required by the Court, be sufficient to eliminate the deficit in respect of accumulated losses on the Company's balance sheet, and thereby create a positive balance.\n \nGener...