Last checked at 21 Aug 2017 15:43
Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
For immediate release
21 August 2017
Premier African Minerals Limited
("Premier" or the "Company")
Exercise of Warrants and Issue of Equity
Premier African Minerals Limited, the AIM-traded, multi-commodity mining and natural resource development company focused in Southern and Western Africa has today issued 3,559,479 new Ordinary Shares on an exercise of warrants as detailed below.
Darwin Capital Limited ("Darwin"), which was awarded 3,559,479 warrants to subscribe for new Ordinary Shares as announced on 15 September 2015 has today issued a notice of exercise in respect of the entire warrant deed at the adjusted exercise price of 0.26p per new Ordinary Share for total a consideration of £9,254.65. The Company has therefore issued today 3,559,479 new Ordinary Shares to Darwin ("Darwin Shares").
The Darwin Shares will when issued rank pari passu in all respects with the existing ordinary shares. Application will be made for the Darwin Shares to be admitted to trading on AIM and admission is expected to take place on or around 25 August 2017.
Following the issue of the Darwin Shares, the Company's issued share capital consists of 5,357,287,604 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.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Enquiries:
Fuad Sillem | Premier African Minerals Limited | Tel: +44 (0)7734 922074 |
Michael Cornish / Roland Cornish | Beaumont Cornish Limited (Nominated Adviser) | Tel: +44 (0) 207 628 3396 |
Jerry Keen/Edward Mansfield | Shore Capital Stockbrokers Limited | Tel: +44 (0) 207 408 4090 |
Jon Belliss | Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
Charles Goodwin/ Harriet Jackson | Yellow Jersey PR Limited | Tel: +44 (0) 7747 788221 |
Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe.
The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Benin, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company has acquired a 52 per cent controlling stake in Mozambique-based TCT Industrias Florestais Limitada, which owns a substantial limestone deposit and forestry business located on rail in the Sofala Province of Mozambique. In addition, the Company holds 4,101,999 million shares in Circum, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$8.2 million based on the latest price at which Circum has accepted subscriptions. Premier also has an interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25 per cent interest in the 1.2 million ounce inferred resource Akyanga gold deposit in the DRC.
ENDS