Premier African Minerals Limited Loan Agreement with George Roach (7935A)
March 28 2017 - 9:26AM
UK Regulatory
TIDMPREM
RNS Number : 7935A
Premier African Minerals Limited
28 March 2017
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
28 March 2017
Premier African Minerals Limited
("Premier" or the "Company")
Loan Agreement with George Roach -
Loan Agreement Conversion Rights
Premier African Minerals Limited, the AIM-traded,
multi-commodity mining and resource development company focused on
Southern and Western Africa, announces that it has amended the
terms of the existing loan agreement ("Loan") with George Roach
through the grant of conversion rights.
On 15 September 2015, George Roach provided a US$300,000 loan
direct to Premier for the use at RHA Tungsten (Pty) Limited
("RHA"). The loan is unsecured and accrues interest at a rate of 3%
per annum. As at 28 March 2017, the loan and accrued interest
totalled US$ 309,457.
The Board has granted conversion rights in respect of the Loan,
which can now be converted into new ordinary shares at a price of
0.5p per new ordinary share (being the same price as the offer
price pursuant to the PrimaryBid Offer as announced on 27 March
2017).
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
------------------ --------------------------- ------------------
Michael Cornish Beaumont Cornish Tel: +44 (0) 207
/ Roland Cornish Limited 628 3396
(Nominated Adviser)
------------------ --------------------------- ------------------
Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 207
Mansfield Limited 408 4090
------------------ --------------------------- ------------------
Beaufort Securities Tel: +44 (0) 20
Jon Belliss Limited 7382 8300
------------------ --------------------------- ------------------
Charles Goodwin/ Yellow Jersey PR Tel: +44 (0) 7747
Harriet Jackson Limited 788221
------------------ --------------------------- ------------------
Notes
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
recently acquired a 52% 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 2 million
shares in Circum Minerals Limited ("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$4
million based on the latest price at which Circum has accepted
subscriptions. Premier also has a 4.5% interest in Casa Mining
Limited, a privately-owned exploration company that has a 71.25%
interest in the 1.2 million ounce inferred resource Akyanga gold
deposit in the DRC.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGROKFDBQBKDPNB
(END) Dow Jones Newswires
March 28, 2017 10:26 ET (14:26 GMT)
Premier African Minerals (LSE:PREM)
Historical Stock Chart
From Apr 2024 to May 2024
Premier African Minerals (LSE:PREM)
Historical Stock Chart
From May 2023 to May 2024