REG - Premier African Min - Director / PDMR shareholding

Premier African MineralsAnnouncement

28/04/2023 07:15

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RNS Number : 8452X  Premier African Minerals Limited  28 April 2023

28 April 2023

Premier African Minerals Limited

 

Exercise of Options

Director / PDMR shareholding

 

Premier African Minerals Limited ("Premier" or the "Company"), announces that
on 27 April 2023, Mr George Roach, Chief Executive Officer and Mr. Wolfgang
Hampel, Non-Executive Director, exercised options over in aggregate 24,500,000
new ordinary shares in the capital of the Company as set out in the table
below pursuant to the terms of the 2017 Share Option Plan:

 Director         Existing options exercised  Exercise price  Resultant holding of Ordinary Shares  % of enlarged issued share capital

 George Roach     9,500,000                   0.28p           1,616,514,207                         7.1%
                  9,500,000                   0.40p

 Wolfgang Hampel  2,750,000                   0.28p           101,834,781                           0.45%
                  2,750,000                   0.40p

 

In addition, the Company advises that on 27 April 2023, previous board
members, current and former employees also exercised a further 70,688,565
options at a price of 0.28p per ordinary share and 70,688,565 options at a
price of 0.40 pence per ordinary share.

In aggregate therefore, a total of 165,877,130 new ordinary shares have been
issued by Company pursuant to the exercise of the options ("New Ordinary
Shares") as set out above. The total proceeds of the exercise amounts to
£563,982.24 which will be used by the Company for general working capital
purposes.

Application is being made to the London Stock Exchange for 165,877,130 New
Ordinary Shares to be admitted to trading on AIM and it is expected that
Admission will become effective, and dealings will commence in the New
Ordinary Shares at 8.00 a.m. on or around 5 May 2023. The New Ordinary Shares
shall rank pari passu in all respects with all other Ordinary Shares then in
issue.

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company's issued share
capital consists of 22,583,886,961 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.

 

Enquiries:

 

 George Roach                        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)

 John More/Toby Gibbs                Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified 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 reflect 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 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.

 

In addition, the Company holds a 19% interest in MN Holdings Limited, the
operator of the Otjozondu Manganese Mining Project in Namibia.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         George Roach

 2    Reason for the notification

 a)   Position/status                                              Chief Executive

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Premier African Minerals Limited

 b)   LEI                                                          213800WDKYXYJZE5DZ61

 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  Ordinary shares of no-par value in Premier African Minerals Limited

      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       0.28p  9,500,000
                                                                                                      0.40p  9,500,000

 d)   Aggregated information

      - Aggregated volume                                          19,000,000 Ordinary Shares

      - Price                                                      0.28p and 0.40p

 e)   Date of the transaction                                      27 April 2023

 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

- Aggregated volume

19,000,000 Ordinary Shares

- Price

0.28p and 0.40p

e)

 

Date of the transaction

 

27 April 2023

f)

 

Place of the transaction

 

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Wolfgang Hampel

 2    Reason for the notification

 a)   Position/status                                              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                                                         Premier African Minerals Limited

 b)   LEI                                                          213800WDKYXYJZE5DZ61

 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  Ordinary shares of no-par value in Premier African Minerals Limited

      Identification code                                          ISIN: VGG7223M1005

 b)   Nature of the transaction                                    Issue of Ordinary Shares

 c)   Price(s) and volume(s)

Director         Price        Volume(s)
                                                                                            Wolfgang Hempel       0.28 p  2,750,000
                                                                                                       0.40 p  2,750,000

 d)   Aggregated information

      - Aggregated volume                                          5,500,000 Ordinary Shares

      - Price                                                      0.28p and 0.40p

 e)   Date of the transaction                                      27 April 2023

 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

- Aggregated volume

5,500,000 Ordinary Shares

- Price

0.28p and 0.40p

e)

 

Date of the transaction

 

27 April 2023

f)

 

Place of the transaction

 

Outside a trading venue

 

 
Ends

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