Premier African Minerals Limited Placing - Correction (9356N)
September 27 2019 - 2:39AM
UK Regulatory
TIDMPREM
RNS Number : 9356N
Premier African Minerals Limited
27 September 2019
The following announcement replaces the announcement released on
27 September 2019 at 7.00 a.m. under RNS No 8770N with heading:
'Placing'.
The reference to the admission date of the Placing Shares has
been changed from "3 September 2019" to "3 October 2019". All other
details remain unchanged.
The full amended text is shown below.
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
27 September 2018
Premier African Minerals Limited
Issue of Equity
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to announce it has today raised by means of a direct
subscription GBP250,000 before expenses at an issue price of 0.02
pence per new ordinary share.
George Roach, CEO, commented: "I expect this will be the last
direct placement Premier will need in advance of expectations for
the exclusive prospecting order application at Zulu Lithium and
Tantalum project, and the ongoing electrification at the RHA
Tungsten Mine in Zimbabwe.
At the same time, we are pleased with reports of ongoing
increases in production tonnage at Otjozondu Mining in Namibia and
we look forward to the possibilities that a closer association with
this mine will bring in the future to Premier and its
shareholders".
Placing
Premier has today issued by way of a placing ("Placing"),
conditional on admission, 1,250,000,000 new ordinary shares of nil
par value ("Placing Share") at a Placing price of 0.02 pence per
Placing Share. The Placing Shares will, when issued, rank pari
passu in all respects with the existing ordinary shares.
Application has been made for the Placing Shares to be admitted to
trading on AIM and admission is expected to take place on or around
3 October 2019. The Placing has been undertaken within the
Company's existing share authorities. Premier intends to use the
proceeds of the Placing to assist with the ongoing general working
capital necessary for the Group.
Total Voting Rights
Following the issue of the Placing Shares, the Company's issued
share capital will consist of 11,003,778,500 Ordinary Shares, with
voting rights. This figure may then 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. The person who arranged the
release of this announcement on behalf of the Company was George
Roach.
Enquiries:
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20 7628
Roland Cornish (Nominated Adviser) 3396
--------------------------- ---------------------
Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 20 7408
Mansfield Limited 4090
--------------------------- ---------------------
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 and Zulu projects in
Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium and tantalum in Zimbabwe,
encompassing brownfield projects with near-term production
potential to grass-roots exploration. In addition, the Company
holds 5,010,333 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.
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. Many 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
ENDS
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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