REG - Premier African Min. - Issue of Equity

Premier African MineralsAnnouncement

04/02/2025 16:00

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RNS Number : 8937V  Premier African Minerals Limited  04 February 2025

4 February 2024

Premier African Minerals Limited

 

 Issue of Equity

Premier African Minerals Limited ("Premier" or the "Company") is pleased to
announce that contractors at the Zulu Lithium and Tantalum Project have agreed
to accept payment of US$300,000 of invoices in new ordinary shares of the
Company.

Accordingly, the Company has today settled payment of US$300,000 (equivalent
to £241,980) in outstanding invoices through the issue of 1,099,909,091 new
ordinary shares of the Company at the price of 0.022 pence per ordinary share,
being closing bid price on Monday, 3 February 2025 ("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 1,099,909,091 Settlement Shares to be admitted
to trading on AIM and admission is expected to take place on or around 10
February 2025.

 

Total Voting Rights

 

Following the issue of the Settlement Shares, the Company's issued share
capital consists of 39,827,629,048 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
(http://www.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 Limited                 Tel: +44 (0)20 3005 5000

 

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.

 

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