Result of General Meeting
Power Metal Resources PLC announced that all five resolutions presented at its General Meeting were passed, including special resolutions to reduce and cancel paid-up capital on deferred shares, cancel the Share Premium Account and Capital Redemption Reserve, and amend the Articles of Association. These changes, overwhelmingly approved with votes for ranging from 99.91% to 99.96%, will not affect the number or nominal value of the company's 115,610,437 ordinary shares in issue as of November 10, 2025, but rather relate to accounting treatments.
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Power Metal Resources PLC (AIM:POW), the London listed natural resources exploration company and project incubator with a global project portfolio, announces the results of its General Meeting held today.
All 5 of the resolutions that were put to members were passed on a poll and passed as special resolutions.
The results of the poll (including proxy votes) are outlined in the table below.
| Resolution | Votes for | Votes against |
|---|---|---|
| Resolution 1 (Special) To approve the reduction and cancellation of paid up capital to the extent of £0.009 on each issued Deferred Share. | 99.96 % | 0.04% |
| Resolution 2 (Special) To approve the reduction and cancellation of paid up capital to the extent of £0.00099 on each issued Deferred A Share. | 99.96 % | 0.04% |
| Resolution 3 (Special) To approve the cancellation of the Company's Share Premium Account. | 99.91% | 0.09% |
| Resolution 4 (Special) To approve the cancellation of the Company's Capital Redemption Reserve. | 99.91% | 0.09% |
| Resolution 5 (Special) To amend the Company's Articles of Association to reflect the cancellation of the Non-Voting Shares. | 99.91% | 0.09% |
All capitalised terms contained herein have the same definitions as those set out in the circular.
As at 10 November 2025, there were 115,610,437 ordinary shares ("Ordinary Shares") in issue, none of which are held in treasury. Shareholders are entitled to one vote per share.
The full text of each resolution is available in the Notice of General Meeting, published on the Company's website at https://www.powermetalresources.com.
Ordinary Shares
The Share Capital Reduction will not affect the number of Ordinary Shares in issue (which is 115,610,437 on 10 November 2025) nor will it affect their nominal value, or the rights attaching to them. The change relates to the accounting treatment of the Company's Share Premium Account and Capital Redemption Reserve.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.