TIDMPREM
RNS Number : 8452X
Premier African Minerals Limited
28 April 2023
28 April 2023
Premier African Minerals Limited
Exercise of Options
Director / PDMR shareholding
Premier African Minerals Limited ("Premier" or the "Company"),
announces that on 27 April 2023, Mr George Roach, Chief Executive
Officer and Mr. Wolfgang Hampel, Non-Executive Director, exercised
options over in aggregate 24,500,000 new ordinary shares in the
capital of the Company as set out in the table below pursuant to
the terms of the 2017 Share Option Plan:
Director Existing Exercise Resultant holding % of enlarged
options exercised price of Ordinary Shares issued share capital
George Roach 9,500,000 0.28p 1,616,514,207 7.1%
9,500,000 0.40p
Wolfgang Hampel 2,750,000 0.28p 101,834,781 0.45%
2,750,000 0.40p
In addition, the Company advises that on 27 April 2023, previous
board members, current and former employees also exercised a
further 70,688,565 options at a price of 0.28p per ordinary share
and 70,688,565 options at a price of 0.40 pence per ordinary
share.
In aggregate therefore, a total of 165,877,130 new ordinary
shares have been issued by Company pursuant to the exercise of the
options ("New Ordinary Shares") as set out above. The total
proceeds of the exercise amounts to GBP563,982.24 which will be
used by the Company for general working capital purposes.
Application is being made to the London Stock Exchange for
165,877,130 New Ordinary Shares to be admitted to trading on AIM
and it is expected that Admission will become effective, and
dealings will commence in the New Ordinary Shares at 8.00 a.m. on
or around 5 May 2023. The New Ordinary Shares shall rank pari passu
in all respects with all other Ordinary Shares then in issue.
Total Voting Rights
Following the issue of the New Ordinary Shares, the Company's
issued share capital consists of 22,583,886,961 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.
Enquiries:
George Roach Premier African Minerals Tel: +27 (0) 100
Limited 201 281
Michael Cornish Beaumont Cornish Limited Tel: +44 (0) 20
/ Roland Cornish (Nominated Adviser) 7628 3396
--------------------------- -----------------
John More/Toby Shore Capital Stockbrokers Tel: +44 (0) 20
Gibbs Limited 7408 4090
--------------------------- -----------------
Forward Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward looking statements. Forward looking statements are
identi ed 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 re ect
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. The
Company has a ccepted 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.
In addition, the Company holds a 19% interest in MN Holdings
Limited, the operator of the Otjozondu Manganese Mining Project in
Namibia.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name George Roach
--------------------------- -----------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status Chief Executive
--------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Premier African Minerals Limited
--------------------------- -----------------------------------------------
b) LEI 213800WDKYXYJZE5DZ61
--------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
----------------------------------------------------------------------------
a) Description of the Ordinary shares of no-par value in Premier
financial instrument, African Minerals Limited
type of instrument
Identification code ISIN: VGG7223M1005
b) Nature of the transaction Issue of Ordinary Shares
--------------------------- -----------------------------------------------
c) Price(s) and volume(s) Director Price Volume(s)
------------- ------ ---------
George Roach 0.28p 9,500,000
0.40p 9,500,000
-------------------------------------------
d) Aggregated information
- Aggregated volume 19,000,000 Ordinary Shares
- Price 0.28p and 0.40p
e) Date of the transaction 27 April 2023
--------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- -----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Wolfgang Hampel
-------------------------- -----------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Non-executive Director
-------------------------- -----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Premier African Minerals Limited
-------------------------- -----------------------------------------------
b) LEI 213800WDKYXYJZE5DZ61
-------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description of the Ordinary shares of no-par value in Premier
financial instrument, African Minerals Limited
type of instrument
Identification code ISIN: VGG7223M1005
b) Nature of the transaction Issue of Ordinary Shares
-------------------------- -----------------------------------------------
c) Price(s) and volume(s) Director Price Volume(s)
---------------- ------- ---------
Wolfgang Hempel 0.28 p 2,750,000
0.40 p 2,750,000
-------------------------------------------
d) Aggregated information
- Aggregated volume 5,500,000 Ordinary Shares
- Price 0.28p and 0.40p
e) Date of the transaction 27 April 2023
-------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------------
Ends
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END
DSHPPUWWCUPWUCR
(END) Dow Jones Newswires
April 28, 2023 02:00 ET (06:00 GMT)
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