REG - Premier African Min. - Creditor Settlement

Premier African MineralsAnnouncement

20/05/2026 07:00

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RNS Number : 0664F  Premier African Minerals Limited  20 May 2026

20 May 2026

Premier African Minerals Limited

 

Creditor Settlement

Premier African Minerals Limited ("Premier" or the "Company") is pleased to
announce that it has reached agreement with certain creditors to settle
outstanding liabilities through the issuance of new ordinary shares in the
Company (the "Settlement").

The Settlement forms part of the Company's ongoing creditor management
strategy and is intended to preserve working capital while enabling Premier to
continue focusing on the advancement of the Zulu Lithium and Tantalum Project
and its broader operational objectives.

 

Settlements

 

The Company has today settled creditor invoices totalling approximately
£0.163 million through the issue of 881,706,541 new ordinary shares in the
Company at an issue price of 0.0185 pence per new ordinary share (the "Issue
Price"), being the same price as the Company's most recent placing as
announced on 13 May 2026.

 

In addition, a further £0.054 million owed in respect of accrued but unpaid
salaries and payments owing to former consultants and directors has been
settled through the issue of a further 295,769,135 new ordinary shares in the
Company at the Issue Price.

 

In aggregate, the Company has agreed to issue 1,177,475,676 new ordinary
shares pursuant to the settlement arrangements (the "Settlement Shares").

 

Admission

 

Application is being made for the Settlement Shares to be admitted to trading
on AIM and admission is expected to take place on or around 27 May 2026. The
Settlement Shares will, when issued, rank pari passu in all respects with
the existing ordinary shares.

 

Total Voting Rights

 

Following the issue of the Settlement Shares, the Company's issued share
capital consists of 39,303,760,989 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 Graham Hill.

A copy of this announcement is available at the Company's
website, www.premierafricanminerals.com
(http://www.premierafricanminerals.com/) .

 

Enquiries:

 

 Graham Hill                         Premier African Minerals Limited    Tel: +27 (0) 100 201 281
 Michael Cornish / Roland Cornish    Beaumont Cornish Limited            Tel: +44 (0) 20 7628 3396

                                     (Nominated Adviser)
 Douglas Crippen                     CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/Harry Davies-Ball        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 encompassing brownfield
projects with near-term production potential to grass-roots exploration.

 

Ends

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