Premier African Minerals Limited Director's Loan Conversion (5079Z)
15 December 2017 - 10:00PM
UK Regulatory
TIDMPREM
RNS Number : 5079Z
Premier African Minerals Limited
15 December 2017
15 December 2017
Premier African Minerals Limited
Director's Loan Conversion
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to announce the Company's Chairman and CEO, George Roach
has today elected to convert US$100,000 of the US$300,000 ("Loan")
he provided to the Company on 15 September 2015. The Loan is
unsecured and accrues interest at a rate of LIBOR plus 3%. As of 6
December 2017, the Loan and accrued interest totalled US$315,096.
The Loan can also be converted at any time into new ordinary shares
at a price of 0.5p per new ordinary share (as further announced on
28 March 2017).
The Company has therefore issued 14,964,020 new ordinary shares
to George Roach ("Conversion Shares") at an issue price of 0.5p.
The Conversion Shares will, when issued, rank pari passu in all
respects with the existing ordinary shares. Application will be
made for the Conversion Shares to be admitted to trading on AIM and
admission is expected to take place on or around 22 December
2017.
On issue of the Conversion Shares, George Roach will therefore
be interested directly and indirectly in aggregate in 476,751,154
ordinary shares representing 7.25 per cent of the enlarged issued
share capital of the Company.
Securities In issue
Following the issue of these Conversion Shares and the
Subscription Shares as announced previously, the Company's issued
share capital consists of 6,572,936,370 ordinary shares, with
voting rights. The Company does not hold any shares in treasury and
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 Tel: +44 (0)7734
Fuad Sillem Minerals Limited 922074
------------------------ --------------------------- -----------------
Michael Cornish Beaumont Cornish Tel: +44 (0)
/ Roland Cornish Limited 20 7628 3396
(Nominated Adviser)
------------------------ --------------------------- -----------------
Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0)
Mansfield Limited 20 7408 4090
------------------------ --------------------------- -----------------
Beaufort Securities Tel: +44 (0)
Jon Belliss Limited 20 7382 8300
------------------------ --------------------------- -----------------
Charles Goodwin/Harriet Yellow Jersey PR Tel: +44 (0)
Jackson Limited 07544 275 882
------------------------ --------------------------- -----------------
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. 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. At present those
shares are valued at US$10.2 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% interest in the 1.5 million ounce
inferred resource Akyanga gold deposit in the DRC.
The information below, set out in accordance with the
requirements of the EU Market Abuse Regulation, provides further
detail.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------
a) Name George Roach
--- ------------------------ ----------------------------------
2 Reason for notification
--- ------------------------------------------------------------
a) Position / status Director
--- ------------------------ ----------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------
a) Name Premier African Minerals Limited
--- ------------------------ ----------------------------------
b) LEI 213800WDKYXYJZE5DZ61
--- ------------------------ ----------------------------------
4 Details of the transaction(s): section to
be repeated 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 Ordinary shares of 0.5 pence
the financial each in Premier African Minerals
instrument, type Limited
of instrument ISIN VGG7223M1005
Identification
code
--- ------------------------ ----------------------------------
Nature of the Issue of Ordinary Shares
transaction
--- ------------------------ ----------------------------------
Price(s) and Price(s) Volumes(s)
volumes(s) --------- -----------
0.5p 14,964,020
--------- -----------
--- ------------------------ ----------------------------------
d) Aggregated information n/a
--- ------------------------ ----------------------------------
e) Date of the transaction 15 December 2017
--- ------------------------ ----------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ------------------------ ----------------------------------
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBELFFDLFEFBL
(END) Dow Jones Newswires
December 15, 2017 06:00 ET (11:00 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
