19 July 2024
Premier African Minerals
Limited
Issue of
Equity
Premier African Minerals Limited
("Premier" or the
"Company") is pleased to
announce that contractors at Zulu Lithium
and Tantalum Project have agreed to accept payment of US$870,750 of
invoices in new ordinary shares of the Company.
Accordingly, the Company has today
settled payment of US$870,750 (equivalent to £675,000) in
outstanding invoices through the issue of 900,000,000 new ordinary
shares of the Company at the price of 0.075 pence per ordinary
share, being yesterday's closing bid price ("Settlement Shares").
The Settlement Shares will, when
issued, rank pari passu in all respects with the existing ordinary
shares and any sales of the Settlement Shares will be handled by
Premier's brokers.
Admission
Application is being made for
900,000,000 Settlement Shares to be admitted to trading on AIM and
admission is expected to take place on or around 25 July
2024.
Total Voting Rights
Following the issue of the
Settlement Shares, the Company's issued share capital consists of
32,281,688,211 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.
Market Abuse Regulations
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
("UK MAR").
The person who arranged the release
of this announcement on behalf of the Company was George
Roach.
A copy of this announcement is
available at the Company's website, www.premierafricanminerals.com.
Enquiries:
|
George Roach
|
Premier African Minerals Limited
|
Tel: +27 (0) 100 201 281
|
|
Michael Cornish / Roland Cornish
|
Beaumont Cornish Limited
(Nominated Adviser)
|
Tel: +44 (0) 20 7628 3396
|
|
Douglas Crippen
|
CMC
Markets UK Plc
|
Tel: +44 (0) 20 3003 8632
|
|
Toby Gibbs/Rachel Goldstein
|
Shore Capital Stockbrokers Limited
|
Tel: +44 (0) 20 7408 4090
|
Nominated Adviser Statement
Beaumont Cornish
Limited ("Beaumont
Cornish"), which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and
will not be responsible to anyone else for providing the
protections afforded to the clients of Beaumont Cornish or for
providing advice in relation to such proposals. Beaumont Cornish
has not authorised the contents of, or any part of, this document
and no liability whatsoever is accepted by Beaumont Cornish for the
accuracy of any information, or opinions contained in this document
or for the omission of any information. Beaumont Cornish as
nominated adviser to the Company owes certain responsibilities to
the London Stock Exchange which are not owed to the
Company, the Directors, Shareholders, or any other
person.
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 and lithium and gold
in Mozambique, encompassing brownfield projects with near-term
production potential to grass-roots exploration. The Company has
accepted 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.