Premier African Minerals Limited Director/PDMR Shareholding (8241J)
18 August 2023 - 4:23PM
UK Regulatory
TIDMPREM
RNS Number : 8241J
Premier African Minerals Limited
18 August 2023
For immediate release
18 August 2023
Premier African Minerals Limited
Facility Update
Director / PDMR shareholding
Premier African Minerals Limited ("Premier" or the "Company"),
announces that the Company has received total net proceeds of
GBP1,708,532.51 from the sales of 370,000,000 Premier Ordinary
Shares ("Share Sales") by George Roach ("Lender") at an average
price 0.4513 pence per share ("Selling Price"), in accordance with
the Loan Facility Agreement announced on 9 August 2023
("Facility").
The Board and Lender have agreed that no further shares will be
sold by the Lender under the Facility and that, upon settlement of
the repayment of the existing amounts outstanding under the
Facility by the issue of the new Premier Ordinary Shares, the
Facility will be terminated with immediate effect.
Further details on the sales of Premier Ordinary Shares by
George Roach are set out in the Appendix. Following the Share
Sales, George Roach is now interested in 1,246,514,207 Premier
Ordinary Shares representing 5.4 per cent. of the issued share
capital of the Company. New Premier Ordinary Shares will be issued
in due course to George Roach by the Company to repay the Facility
in accordance with its terms at the Selling Price. George Roach as
Lender also incurred GBP19,077.09 in broker and banking fees
pursuant to the selling of the Share Sales which will be reimbursed
through the issue of a further new Premier Ordinary Shares also at
the Selling Price. A further announcement will be made in due
course.
The total proceeds received under the terms of the Facility have
been used for general working capital purposes and to meet the
ongoing operational costs at the Zulu Lithium and Tantalum
Project.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018.
The person who arranged the release of this announcement on
behalf of the Company was Godfrey Manhambara.
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
--------------------------- -----------------
Douglas Crippen CMC Markets UK Plc Tel: +44 (0) 20
3003 8632
--------------------------- -----------------
Toby Gibbs/Rachel Shore Capital Stockbrokers Tel: +44 (0) 20
Goldstein Limited 7408 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 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.
APPENDIX
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
4 for (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
financial instrument, Premier 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) No. Number of
Shares Price
1 70,000,000 0.5228p
2 75,000,000 0.5236p
3 85,000,000 0.471176p
4 10,000,000 0.4325p
5 67,500,000 0.404p
6 12,500,000 0.4p
7 50,000,000 0.405p
-----------------------------------
d) Aggregated information
- Aggregated volume 370,000,0000 Ordinary Shares
- Price 0.4513p
e) Date of the transaction No. Date
1 06/07/2023
2 07/07/2023
3 10/07/2023
4 27/07/2023
5 28/07/2023
6 31/07/2023
7 02/08/2023
------------------------------- -------------------------------------
f) Place of the transaction AIMX
------------------------------- -------------------------------------
Ends
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