RE: major RNS out5 Dec 2018 13:13
Premier African Minerals Limited ("Premier" or the "Company") is pleased to confirm that in the period following the announcement of the 7 November 2018, due diligence as described in that announcement has progressed satisfactorily and Premier and KME have agreed to proceed to a formal framework agreement irrespective of the outcome of ongoing discussions that are expected to resolve the equity status at RHA Tungsten Pvt Ltd. The Company will provide further updates once it has agreed the framework agreement.
Shareholders are reminded that this transaction is subject to their approval, completion and signing of the formal framework agreement and regulatory approval. When all conditions are met, the transaction will result in a direct distribution of Newco (as defined in RNS dated 7 November 2018) shares on a pro rata basis to holders of Premier shares when shareholder consent is granted, and Newco shares are admitted to trading.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was George Roach.