REG - Premier African Min. - Issue of equity and corporate update

Premier African MineralsAnnouncement

21/07/2025 12:45

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RNS Number : 9045R  Premier African Minerals Limited  21 July 2025

21 July 2025

Premier African Minerals Limited

Issue of Equity and Corporate Update
 

Premier African Minerals Limited ("Premier" or the "Company") announces that
the Company has today issued 1,666,666,667 new ordinary shares at an issue
price of 0.012 pence per share in settlement of accrued but unpaid interest
amounting to £200,000 due on the 2023 loan advance made by George Roach to
the Company ("Settlement Shares"). The Settlement Shares will rank pari passu
in all respects with the existing ordinary shares. Application will be made
for the Settlement Shares to be admitted to trading on AIM and admission is
expected to take place on or around 28 July 2025. The issue price of the
Settlement Shares has been set at the same issue price as the last
market-based subscription announced on 11 June 2025.

 

Following the issue of the Settlement Shares, which represent 2.1% of the
current issued share capital, George Roach will be interested in aggregate in
2,913,180,874 Shares, representing 3.8% of the issued share capital. There
have been no other issue of Shares or rights over Shares to George Roach in
the prior 12-month period.

 

As set out in the published audited accounts for the year ended 31 December
2024, the advance made by George Roach to the Company in 2023 ("Loan"), which
had a first repayment due from January 2024 ("Repayment Date") is still
outstanding and due on demand. In accordance with the terms of the Loan (as
previously amended), interest was waived unless there was an event of default
and accordingly accrued interest is due which, as at 30 June 2025, amounted to
£207,741.77. George Roach has agreed not to seek any repayment of the Loan
until the earlier of either 21 June 2026, or an agreement from a reputable
buyer acceptable to Canmax Technologies Co., Ltd ("Canmax") that they will
settle and/or manage the outstanding prepayment amount plus interest owed to
Canmax ("Extension"). This Extension is conditional on there being no further
default under the Loan.

 

Total Voting Rights

 

Following the issue of the Settlement Shares, the Company's issued share
capital consists of 77,674,775,980 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 Regulation

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 Godfrey Manhambara.

 

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

 

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)
 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
 Andrew Monk / Andrew Raca           VSA Capital                         Tel: +44 (0)20 3005 5000

 

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

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.

 
Ends

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