TIDMORCP

RNS Number : 3566P

Oracle Power PLC

09 February 2023

9 February 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 8 February 2023:

 
 DIRECTOR          POSITION           ORDINARY            PRICE PER    TOTAL BENEFICIAL   % ISSUED 
                                       SHARES PURCHASED    ORDINARY     INTEREST           SHARE CAPITAL 
                                                           SHARE 
                   Non-Executive 
 Mark Steed         Chairman          68,999              0.20 pence   24,856,664         0.807% 
                  -----------------  ------------------  -----------  -----------------  --------------- 
                   Chief Executive 
 Naheed Memon       Officer           605,253             0.20 pence   113,604,071        3.69% 
                  -----------------  ------------------  -----------  -----------------  --------------- 
                   Non-Executive 
 David Hutchins     Director          91,998              0.20 pence   965,915            0.031% 
                  -----------------  ------------------  -----------  -----------------  --------------- 
 

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:

 
 
  O racle Power PLC                                   +44 (0) 203 580 
  N aheed Memon (Chief Executive Officer)                        4314 
Strand Hanson Limited (Nominated Adviser 
 & Broker) 
 Rory Murphy, Matthew Chandler, Rob Patrick      +44 (0) 20 7409 3494 
Buchanan                                             +44 (0) 203 7466 
 Oonagh Reidy / Abigail Gilchrist                                 500 
                                               oracle@buchanan.uk.com 
 

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. Chief Executive Officer 
                                         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      Ordinary Shares of GBP0.001 
       instrument, type of instrument    each 
       Identification code               GB00B23JN426 
     --------------------------------  ------------------------------------------- 
 b.   Nature of the transaction         Purchase of Ordinary Shares 
     --------------------------------  ------------------------------------------- 
 c.   Price(s) and volume(s)              Director         Price/share    Volume 
                                                                            (s) 
                                           1. M Steed       0.20 pence     68,999 
                                                           -------------  -------- 
                                           2. N Memon       0.20 pence     605,253 
                                                           -------------  -------- 
                                           3. D Hutchins    0.20 pence     91,998 
                                                           -------------  -------- 
     --------------------------------  ------------------------------------------- 
 d.        Aggregated information 
             *    Aggregated volume       766,250 
                                          GBP0.0020 per Ordinary Share 
 
             *    Price 
     --------------------------------  ------------------------------------------- 
 e.   Date of the transactions          8 February 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

DSHUWUNROKUURAR

(END) Dow Jones Newswires

February 09, 2023 02:00 ET (07:00 GMT)

Oracle Power (AQSE:ORCP.GB)
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