REG - Premier African Min. - Grant of Options

Premier African MineralsAnnouncement

27/05/2026 08:00

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RNS Number : 8568F  Premier African Minerals Limited  27 May 2026

27 May 2026

Premier African Minerals Limited

("Premier" or the "Company")

Grant of Options

Premier African Minerals Limited (AIM: PREM), announces that, on 27 May 2026
options for 2,400,000,000 new ordinary shares of no-par value in the Company
were awarded to both directors and management ("Options"). The Director
Options and the Management Options will, unless otherwise exercised, all
expire on 27 May 2037.

 

Following this issue of Options, the Company has a total of
2,512,750,000 ordinary shares under option, equivalent to approximately 6.4
per cent of the Company's current issued ordinary share capital.

 

In making the new option awards, the Board considers that the management
remuneration and incentives align with long-term shareholder value creation
and provide commercial protections for the Company and its shareholders as a
whole. In particular, the options vest over time in four (4) equal tranches
subject to the conditions described below, aligning the interests of the
option holders with shareholders. The exercise price of the first option
tranche of 0.0185 pence has been set at the last placing price (as announced
on 13 May 2026), and thereafter subsequent tranches have an increasing
exercise price.

Director Options

Options to subscribe for 720,000,000 new ordinary shares of no-par value in
the Company (the "Director Options") were awarded to Directors. In aggregate,
the award of new Director Options to the Directors represents approximately
1.83 per cent. of the Company's current issued share capital. There have been
no other awards to the Directors in the prior 12-month period. Further details
of the Director Options awards are set out below:

 

 Director            New options awarded  Exercise price  First exercise date                                                             Expiry date
 Graham Hill         100,000,000          0.0185 pence    The sooner of 27 May 2027 or production of 12,000 tons of SC6 at Zulu Lithium.  27 May 2037
                     100,000,000          0.023 pence     The sooner of 27 November 2027 or production of 24,000 tons of SC6 at Zulu      27 May 2037
                                                          Lithium.
                     100,000,000          0.028 pence     The sooner of 27 May 2028 or production of 36,000 tons of SC6 at Zulu Lithium.  27 May 2037
                     100,000,000          0.036 pence     The sooner of 27 May 2029 or production of 48,000 tons of SC6 at Zulu Lithium.  27 May 2037

 Godfrey Manhambara  80,000,000           0.0185 pence    The sooner of 27 May 2027 or production of 12,000 tons of SC6 at Zulu Lithium.  27 May 2037
                     80,000,000           0.023 pence     The sooner of 27 November 2027 or production of 24,000 tons of SC6 at Zulu      27 May 2037
                                                          Lithium.
                     80,000,000           0.028 pence     The sooner of 27 May 2028 or production of 36,000 tons of SC6 at Zulu Lithium.  27 May 2037
                     80,000,000           0.036 pence     The sooner of 27 May 2029 or production of 48,000 tons of SC6 at Zulu Lithium.  27 May 2037
 Note: Further details are set out in the Appendix.

 

Management Options

In addition, the Company has also issued a further 1,680,000,000 options to a
non-board members and management on similar terms to the Director Options
("Management Options") and which vest in four equal tranches as follows

 

 Ø   420,000,000 Management Options will be exercisable and converted into new
     ordinary shares in the Company at a price 0.0185 pence on the sooner of 27 May
     2027 or production of 24,000 tons of SC6 at Zulu Lithium;
 Ø   420,000,000 Management Options will be exercisable and converted into new
     ordinary shares in the Company at a price 0.023 pence on the sooner of 27
     November 2027 or production of 24,000 tons of SC6 at Zulu Lithium;
 Ø   420,000,000 Management Options will be exercisable and converted into new
     ordinary shares in the Company at a price 0.028 pence on the sooner of 27 May
     2028 or production of 36,000 tons of SC6 at Zulu Lithium; and
 Ø   420,000,000 Management Options will be exercisable and converted into new
     ordinary shares in the Company at a price 0.036 pence on the sooner of 27 May
     2029 or production of 48,000 tons of SC6 at Zulu Lithium.

 

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

 

APPENDIX

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Graham Hill
 2   Reason for notification
 a)  Position / status                                            Director
 b)  Initial notification                                         Initial

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Premier African Minerals Limited
 b)  LEI                                                          Not applicable
 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 0.01 pence each in Premier African Minerals Limited

     Identification code                                          ISIN VGG7223M1187
     Nature of the transaction                                    Issue of options over Ordinary Shares
     Price(s) and volumes(s)

Price(s)    Volumes(s)
                                                                  £0.000185   100,000,000
                                                                  £0.00023    100,000,000
                                                                  £0.00028    100,000,000
                                                                  £0.00036    100,000,000
 d)  Aggregated information                                       n/a
 e)  Date of the transaction                                      27 May 2026
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

n/a

e)

Date of the transaction

27 May 2026

f)

Place of the transaction

Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Godfrey Manhambara
 2   Reason for notification
 a)  Position / status                                            Director
 b)  Initial notification                                         Initial

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Premier African Minerals Limited
 b)  LEI                                                          Not applicable
 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 0.01 pence each in Premier African Minerals Limited

     Identification code                                          ISIN VGG7223M1187
     Nature of the transaction                                    Issue of options over Ordinary Shares
     Price(s) and volumes(s)                                      Price(s)    Volumes(s)
                                                                  £0.000185   80,000,000
                                                                  £0.00023    80,000,000
                                                                  £0.00028    80,000,000
                                                                  £0.00036    80,000,000
 d)  Aggregated information                                       n/a
 e)  Date of the transaction                                      27 May 2026
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

n/a

e)

Date of the transaction

27 May 2026

f)

Place of the transaction

Outside a trading venue

 

ENDS

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