Premier African Minerals Limited Director / PDMR shareholding (8452X)

TIDMPREM

RNS Number : 8452X

Premier African Minerals Limited

28 April 2023

28 April 2023

Premier African Minerals Limited

Exercise of Options

Director / PDMR shareholding

Premier African Minerals Limited ("Premier" or the "Company"), announces that on 27 April 2023, Mr George Roach, Chief Executive Officer and Mr. Wolfgang Hampel, Non-Executive Director, exercised options over in aggregate 24,500,000 new ordinary shares in the capital of the Company as set out in the table below pursuant to the terms of the 2017 Share Option Plan:

 
 Director                     Existing   Exercise     Resultant holding           % of enlarged 
                     options exercised      price    of Ordinary Shares    issued share capital 
 George Roach                9,500,000      0.28p         1,616,514,207                    7.1% 
                             9,500,000      0.40p 
 
 Wolfgang Hampel             2,750,000      0.28p           101,834,781                   0.45% 
                             2,750,000      0.40p 
 

In addition, the Company advises that on 27 April 2023, previous board members, current and former employees also exercised a further 70,688,565 options at a price of 0.28p per ordinary share and 70,688,565 options at a price of 0.40 pence per ordinary share.

In aggregate therefore, a total of 165,877,130 new ordinary shares have been issued by Company pursuant to the exercise of the options ("New Ordinary Shares") as set out above. The total proceeds of the exercise amounts to GBP563,982.24 which will be used by the Company for general working capital purposes.

Application is being made to the London Stock Exchange for 165,877,130 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective, and dealings will commence in the New Ordinary Shares at 8.00 a.m. on or around 5 May 2023. The New Ordinary Shares shall rank pari passu in all respects with all other Ordinary Shares then in issue.

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company's issued share capital consists of 22,583,886,961 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     Tel: +27 (0) 100 
                      Limited                      201 281 
 Michael Cornish     Beaumont Cornish Limited     Tel: +44 (0) 20 
  / Roland Cornish    (Nominated Adviser)          7628 3396 
                    ---------------------------  ----------------- 
 John More/Toby      Shore Capital Stockbrokers   Tel: +44 (0) 20 
  Gibbs               Limited                      7408 4090 
                    ---------------------------  ----------------- 
 

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. A number of 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.

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.

 
      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 for 
  4    (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 Premier 
       financial instrument,        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)         Director       Price   Volume(s) 
                                      -------------  ------  --------- 
                                      George Roach    0.28p  9,500,000 
                                                      0.40p  9,500,000 
                                    ------------------------------------------- 
 
 d)   Aggregated information 
 
      - Aggregated volume          19,000,000 Ordinary Shares 
 
      - Price                      0.28p and 0.40p 
 
 e)   Date of the transaction      27 April 2023 
     ---------------------------  ----------------------------------------------- 
 f)   Place of the transaction     Outside a trading venue 
     ---------------------------  ----------------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                        Wolfgang Hampel 
     --------------------------  ----------------------------------------------- 
      Reason for the notification 
  2 
     --------------------------------------------------------------------------- 
 a)   Position/status             Non-executive Director 
     --------------------------  ----------------------------------------------- 
 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 for 
  4    (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 Premier 
       financial instrument,       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)        Director           Price   Volume(s) 

                                     ----------------  -------  --------- 
                                     Wolfgang Hempel    0.28 p  2,750,000 
                                                        0.40 p  2,750,000 
                                   ------------------------------------------- 
 
 d)   Aggregated information 
 
      - Aggregated volume         5,500,000 Ordinary Shares 
 
      - Price                     0.28p and 0.40p 
 
 e)   Date of the transaction     27 April 2023 
     --------------------------  ----------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ----------------------------------------------- 
 

Ends

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April 28, 2023 02:00 ET (06:00 GMT)