RE: NEWS UPDATE21 May 2019 17:31
Hi Tony
In response to your email below:
1. Misinformation. Premier has never consciously misled anyone. As you know the Company is bound by the LSE Disclosure Rules and MAR regulations and has an internal process in place to prepare, review and sign off on all announcements. The announcements are further independently verified. Sadly, most of the confusion stems from the LSE bulletin Boards where some people post inaccurate and misleading commentary.
2. RHA Proceedings. The facts are as published. NIEEF has signed a legally binding agreement and this inter alia includes the undertaking to finance RHA. I have no doubt that the Ministry would cut communications if every detail of every discussion was to be published. I understand and share the frustration.
3. Circum. I met with certain Circum officials last week and even though they appear to have made some good progress over the past months, I am not at liberty to provide anything more until Circum issues an update to all its shareholders. PREM holds approximately 5% of this company.
4. Proposal for the sale of Circum shares. I don’t understand this. The author of the note demonstrates a fundamental lack of understanding of the differences between a public and private company as much a listed company and an unlisted company. The Circum board is the determiner of Circum’s fate. As you know, the company is private, so the shares are not listed. We all know that Circum Board of Directors are seeking to progress the company and Premier would be a significant beneficiary but as a shareholder cannot exert any influence nor drive this process. If the suggestion is that the Circum shares should be disposed of immediately, then I would be personally surprised if a decent return was possible for our minority interest in a separate transaction.
5. Zulu et al. The Company will provide an update RNS as soon as possible.
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