Premier African Minerals Limited Conversion of Investment Agreement (8314V)
August 11 2020 - 11:01AM
UK Regulatory
TIDMPREM
RNS Number : 8314V
Premier African Minerals Limited
11 August 2020
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
11 August 2020
Premier African Minerals Limited
Conversion of Investment Agreement
The Board of Premier African Minerals Limited ("Premier" or the
"Company") announces that D-Beta One EQ, Ltd, YA II PN, Ltd and
Riverfort Global Opportunities PCC Limited, collectively referred
to as the ("Investors") elected on 11 August 2020 to convert a
further US$50,000 of the investment plus accrued interest of
US$1,183.56, amounting to US$51,183.56 (GBP39,165.66) in aggregate,
in accordance with the terms of the Investment Agreement as
announced on 7 May 2020 into new ordinary shares in the
Company.
The Company has therefore issued today 64,470,222 new ordinary
shares to the Investors ("Investors Shares") at an issue price of
0.06075p per Investors Share, the issue price being 90 per cent. of
the lowest daily volume weighted average price during the five days
trading days immediately prior to the repayment. The Investors
Shares will rank pari passu in all respects with the existing
ordinary shares.
Application will be made for the Investors Shares to be admitted
to trading on AIM and admission is expected to take place on or
around 18 August 2020.
Total Voting Rights
Following the issue of the Payment Shares, the Company's issued
share capital consists of 12,858,675,101 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 Limited Tel: +27 (0) 100 201 281
Michael Cornish / Roland Cornish Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
(Nominated Adviser)
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Jerry Keen/Edward Mansfield Shore Capital Stockbrokers Limited Tel: +44 (0) 20 7408 4090
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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,
encompassing brownfield projects with near-term production
potential to grass-roots exploration. The Company holds 5,010,333
shares in Circum Minerals Limited, the owners of the Danakil Potash
Project in Ethiopia, which has the potential to be a world class
asset.
In addition, the Company holds a 19% interest in MN Holdings
Limited, the operator of the Otjozondu Manganese Mining Project in
Namibia.
ENDS
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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