Business
Transaction in own shares
Power Metal Resources PLC has purchased 438,594 ordinary shares at a price of 14.521 pence per share on January 9, 2026, following shareholder approval for market purchases and the effectiveness of a capital reduction to facilitate returns. These shares will be held in treasury, leaving 115,171,843 ordinary shares in issue, which represents the total voting rights. This transaction demonstrates the company's commitment to providing value to its shareholders. Disclaimer*
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n12 January 2026\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nTransaction in own shares\nPower Metal Resources PLC (AIM:POW) the London-listed exploration company and project incubator with a global project portfolio, is pleased to announce a transaction in own shares.\nAt the Company's AGM held on 25 July 2025, Shareholders approved a special resolution to authorise the Directors to make market purchases of up to 17,250,000 ordinary shares of 2 pence each in the capital of the Company (\"Ordinary Shares\"), at not less than 2 pence per share and otherwise by tender offer of up to a maximum price (exclusive of expenses) of the higher of: (i) 5% above the average of the middle market quotations of the Company's Ordinary Shares as derived from the London Stock Exchange Official List for the five business days preceding the date of purchase; and (ii) the higher of the price of the last independent trade and the highest current independent purchase bid on the London Stock Exchange at the time the purchase is carried out.\nOn 19 September 2025 the Company announced a proposed capital reduction to ensure that there were sufficient distributable reserves to facilitate a return of capital to shareholders. The Company recognises the importance of providing returns for investors and considered it highly desirable to ensure that the Company had the maximum flexibility to return value to shareholders.\nFollowing the confirmation that the share capital reduction was effective, as announced on 8 January 2026, the Company is pleased to announce that is has purchased a total of 438,594 Ordinary Shares through the Company's Joint Broker, SP Angel Corporate Finance LLP, as follows:\nDate of purchase: 9 January 2026\nNumber of Ordinary Share purchased: 438,594 Ordinary Shares\nPrice paid per share: 14.521\nThe Company intends to hold these Ordinary Shares in Treasury.\nFollowing the above purchase, the total number of Ordinary Shares in issue, excluding shares held in Treasury, is 115,171,843 This number represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparenc...