Premier African Minerals Limited Exercise of Warrants and Issue of Equity (5801O)
22 August 2017 - 12:43AM
UK Regulatory
TIDMPREM
RNS Number : 5801O
Premier African Minerals Limited
21 August 2017
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
21 August 2017
Premier African Minerals Limited
("Premier" or the "Company")
Exercise of Warrants and Issue of Equity
Premier African Minerals Limited, the AIM-traded,
multi-commodity mining and natural resource development company
focused in Southern and Western Africa has today issued 3,559,479
new Ordinary Shares on an exercise of warrants as detailed
below.
Darwin Capital Limited ("Darwin"), which was awarded 3,559,479
warrants to subscribe for new Ordinary Shares as announced on 15
September 2015 has today issued a notice of exercise in respect of
the entire warrant deed at the adjusted exercise price of 0.26p per
new Ordinary Share for total a consideration of GBP9,254.65. The
Company has therefore issued today 3,559,479 new Ordinary Shares to
Darwin ("Darwin Shares").
The Darwin Shares will when issued rank pari passu in all
respects with the existing ordinary shares. Application will be
made for the Darwin Shares to be admitted to trading on AIM and
admission is expected to take place on or around 25 August
2017.
Following the issue of the Darwin Shares, the Company's issued
share capital consists of 5,357,287,604 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.
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
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Notes to Editors:
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 has
acquired a 52 per cent 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 4,101,999
million shares in 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$8.2 million based on the
latest price at which Circum has accepted subscriptions. Premier
also has an interest in Casa Mining Limited, a privately-owned
exploration company that has a 71.25 per cent 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
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