Director Share Purchases

RNS Number : 9010M
Oracle Power PLC
17 January 2023
 

 

17 January 2023

Oracle Power PLC

("Oracle" or the "Company")

 

Director share purchases

 

Oracle Power PLC (AIM: ORCP), a developer of green hydrogen, is pleased to announce that the Directors of the Company have purchased ordinary shares in the Company as part of the MAR compliant Director Share Purchase Plan ("Director Purchase Plan") as previously announced.

 

The following share purchases were made on 16 January 2023:

 

DIRECTOR

POSITION

ORDINARY SHARES PURCHASED

PRICE PER ORDINARY SHARE

TOTAL BENEFICIAL INTEREST

% ISSUED SHARE CAPITAL

Mark Steed

Non-Executive Chairman

62,726

 

 

0.22 pence

24,787,665

0.805%

Naheed Memon

CEO

550,229

0.22 pence

112,998,818

3.671%

David Hutchins

Non-Executive Director

83,635

 

0.22 pence

873,917

0.028%

 

Further details of the Director Purchase Plan can be found in the Company's announcement of 29 September 2022.

 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

 

*ENDS*

 

For further information on Oracle Power PLC, visit the Company's website http://www.oraclepower.co.uk or contact:

 

Oracle Power PLC

Naheed Memon - CEO  +44 (0) 203 580 4314

 

Strand Hanson Limited (Nominated Adviser and Broker)

Rory Murphy, Matthew Chandler, Rob Patrick                                    +44 (0) 20 7409 3494

 

Buchanan (Financial PR)

Bobby Morse/ Oonagh Reidy/Abigail Gilchrist                                        +44 (0) 203 7466 5000



 

Details of the full notifications received by the Company are set out below:

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a. 

Name

1.  Mark Steed

2.  Naheed Memon

3.  David Hutchins

2. 

Reason for the notification

a. 

Position/status

1.  Non-Executive Chairman

2.  CEO

3.  Non-Executive Director

b. 

Initial notification/Amendment

Initial Notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a. 

Name

Oracle Power PLC

b. 

LEI

213800KTG8HX1WBCAA49

4. 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a. 

Description of the Financial instrument, type of instrument Identification code

Ordinary Shares of 0.001 each

GB00B23JN426

 

b. 

Nature of the transaction

Purchase of Ordinary Shares

c. 

Price(s) and volume(s)

 

Director

Price/share

Volume (s)

1. M Steed

 

0.22 pence

62,726

2. N Memon

 

0.22 pence

550,229

3. D Hutchins

0.22 pence

83,635

d. 

Aggregated information

Aggregated volume

Price

 

696,590

£0.0022 per Ordinary Share

e. 

Date of the transactions

16 January 2023

f. 

Place of the transactions

London Stock Exchange's AIM Market (XLON)



 

About Oracle Power PLC

Oracle Power PLC is an international natural resource and power project developer quoted on London's AIM market. The Company currently has two areas of focus: Western Australia and Pakistan. The Company is active in the energy industry in Pakistan and is working to establish a green hydrogen production facility through Oracle Energy Limited, a joint venture with His Highness Sheikh Ahmed Dalmook Al Maktoum.

 

Oracle Energy Limited has been set up as the project development company and is funded on a 70:30 basis by Kaheel Energy (100% owned by His Highness Sheikh Ahmed Dalmook Al Maktoum) and Oracle Power PLC respectively.  The project development company provides a vehicle to support the accelerated development of the green hydrogen project to meet the growing international and domestic demand of green hydrogen and clean energy. 

 

The Company also continues to advance towards the development of its Thar Block VI Project in south-east Pakistan into a mine, a power plant and a proposed coal gasification project. 

 

In Australia, its primary focus is the Northern Zone Gold Project, located 25km east of the major gold mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second largest gold mine in Australia.  Northern Zone has a current Exploration Target of 200-250Mt at 0.4-0.6g/t Au for between 2.5 - 4.8Moz gold, with drilling being planned to define a maiden inferred JORC resource.

 

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END
 
 
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