t
Power Metal Resources PLC attended a Directions Hearing in the High Court of Justice on 21 November 2025 concerning its application to approve a share capital reduction. The claim was adjourned, with a Confirmation Hearing now scheduled for 9 December 2025.
| Date | 21 Nov 2025 |
| Time | 18:25:49 |
| Category | Miscellaneous |
| ID | 6214I |
21 November 2025
Power Metal Resources PLC
("Power Metal" or the "Company")
Directions Hearing for Share Capital Reduction
Power Metal Resources Plc (AIM: POW, OTCQB: POWMF), the London listed natural resources exploration company and project incubator with a global project portfolio, provides an update on the hearing for directions ("Directions Hearing") in the High Court of Justice, Business and Property Courts of England and Wales, Companies Court (the "Court") which was attended by representatives of the Company today in connection with the Company's application to approve the reduction of its share capital ("Share Capital Reduction").
The Company notes that that the claim was adjourned for hearing on 9 December 2025 (the "Confirmation Hearing") when any creditor or shareholder of the Company who desires to object may attend and be heard.
The Company will make further announcements in due course as appropriate.
Background
As announced on 19 September 2025, the Company is proposing a Share Capital Reduction in accordance with the Companies Act 2006. The Share Capital Reduction, once confirmed by the Court, will create distributable reserves to provide the Company with flexibility for future distributions and corporate purposes.
Expected Timetable
The timetable for the remaining principal events in connection with the Share Capital Reduction are as follows:
|
Confirmation Hearing |
9 December 2025 |
|
Expected date for the Share Capital Reduction to be effective ("Effective Date") |
On or around 24 December 2025 |
*Each of the times and dates set out in the above timetable are subject to change by the Company, in which event details of new times and dates will be notified by a further announcement by the Company. In particular, the expected date for the Confirmation Hearing to confirm the Share Capital Reduction, and the expected Effective Date of the Share Capital Reduction are based on provisional dates. The dates are also subject to any directions of the Court and the date for the registration of the court order is dependent upon, amongst other things, the date on which the Court confirms the Share Capital Reduction and the date that all filings have been completed by the Registrar of Companies at Companies House.
The Company will make further announcements in due course as appropriate.
For further information please visit https://www.powermetalresources.com/ or contact:
|
Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-listed natural resources exploration company and project incubator 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, Saudi Arabia, Oman 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.
|
|