TIDMPREM
RNS Number : 9598Z
Premier African Minerals Limited
19 May 2023
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
19 May 2023
Premier African Minerals Limited
Funding and Appointment of Joint Broker
Director / PDMR shareholding
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to announce, after receiving further institutional interest
following the funding announced 15 May 2023, a further placing to
raise GBP610,000 before expenses at an issue price of 0.925 pence
per new ordinary share ("Placing Price") for the ongoing Zulu
Lithium and Tantalum Project ("Zulu") Pilot Plant optimisation.
Placing
Premier has today issued by way of a placing ("Placing"),
conditional on admission, 65,945,946 new ordinary shares of nil par
value ("Placing Shares") at the Placing Price of 0.925 pence per
Placing Share. The Placing Shares will, when issued, rank pari
passu in all respects with the existing ordinary shares. CMC
Markets UK Plc ("CMC Markets"), acted as the Company's sole placing
agent in respect of the Placing.
George Roach, Chief Executive Officer, has agreed to participate
in the placing at the Placing Price by way of a subscription of
GBP110,000 as set out in the table below:
Shares Subscribed Subscription Resultant holding % of enlarged
price of Ordinary Shares issued share capital
11,891,892 0.925p 1,628,406,099 7.1%
Application will be made for the Placing Shares to be admitted
to trading on AIM and admission is expected to take place on or
around 25 May 2023.
The Placing has been arranged within the Company's existing
share authorities. Premier intends to use the proceeds of the
placing principally to assist with further operational funding of
the ongoing optimisation operations at Zulu and general working
capital purposes necessary for the Group.
The disapplication of the pre-emptive rights approved by
shareholders on the 21 May 2021 lapses on 21 May 2023.
Further details are set out in the appendix.
Appointment of joint broker
The Company has today appointed CMC Markets as joint broker to
the Company.
Total Voting Rights
Following the issue of the Placing Shares, the Company's issued
share capital consists of 22,836,049,123 Ordinary Shares, with
voting rights. This figure may be used by shareholders in the
Company as the denominator for the calculation by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under
the Financial Conduct Authority's Disclosure and Transparency
Rules.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018.
The person who arranged the release of this announcement on
behalf of the Company was George Roach.
Enquiries:
Premier African Minerals Tel: +27 (0) 100
George Roach Limited 201 281
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20 7628
Roland Cornish (Nominated Adviser) 3396
--------------------------- ---------------------
Douglas Crippen CMC Markets UK Plc Tel: +44 (0) 20 3003
8632
--------------------------- ---------------------
John More/Toby Gibbs Shore Capital Stockbrokers Tel: +44 (0) 20 7408
Limited 4090
--------------------------- ---------------------
Forward Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe"
"could" "should" "envisage" "estimate" "intend" "may" "plan" "will"
or the negative of those variations or comparable expressions
including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the
Directors' current expectations and assumptions regarding the
Company's future growth results of operations performance future
capital and other expenditures (including the amount. Nature and
sources of funding thereof) competitive advantages business
prospects and opportunities. Such forward looking statements re ect
the Directors' current beliefs and assumptions and are based on
information currently available to the Directors. A number of
factors could cause actual results to differ materially from the
results discussed in the forward-looking statements including risks
associated with vulnerability to general economic and business
conditions competition environmental and other regulatory changes
actions by governmental authorities the availability of capital
markets reliance on key personnel uninsured and underinsured losses
and other factors many of which are beyond the control of the
Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be
reasonable assumptions. The Company cannot assure investors that
actual results will be consistent with such forward looking
statements.
Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a
multi-commodity mining and natural resource development company
focused on Southern Africa with its RHA Tungsten and Zulu Lithium
projects in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium, and tantalum in Zimbabwe,
encompassing brownfield projects with near-term production
potential to grass-roots exploration. The Company has a ccepted a
share offer by Vortex Limited ("Vortex") for the exchange of
Premier's entire 4.8% interest in Circum Minerals Limited
("Circum"), the owners of the Danakil Potash Project in Ethiopia,
for a 13.1% interest in the enlarged share capital of Vortex.
Vortex has an interest of 36.7% in Circum .
In addition, the Company holds a 19% interest in MN Holdings
Limited, the operator of the Otjozondu Manganese Mining Project in
Namibia.
Appendix
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name George Roach
--------------------------- ----------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Chief Executive
--------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Premier African Minerals Limited
--------------------------- ----------------------------------------------
b) LEI 213800WDKYXYJZE5DZ61
--------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of no-par value in Premier
financial instrument, African Minerals Limited
type of instrument
Identification code ISIN: VGG7223M1005
b) Nature of the transaction Issue of Ordinary Shares
--------------------------- ----------------------------------------------
c) Price(s) and volume(s) Director Price Volume(s)
----------------- -------- -------------
George Roach 0.925p 11,891,892
--------------------------------------------
d) Aggregated information
- Aggregated volume 11,891,892 Ordinary Shares
- Price 0.925p
e) Date of the transaction 19 May 2023
--------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ----------------------------------------------
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHEAESPFDLDEAA
(END) Dow Jones Newswires
May 19, 2023 02:00 ET (06:00 GMT)
Premier African Minerals (AQSE:PREM.GB)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Premier African Minerals (AQSE:PREM.GB)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
