Premier Afr Share Price (PREM)

Share Name Share Symbol Market Type Share ISIN Share Description
Premier Afr LSE:PREM London Ordinary Share VGG7223M1005 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025p -4.76% 0.50p 0.45p 0.55p 0.525p 0.475p 0.525p 116,978,369 16:20:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.2 -4.6 -0.2 - 22.90
Related Shares
Glencore (GLEN), Rio Tinto (RIO), Bluerock (BRD), Mila Resources (MILA)

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Premier Afr News

Date Time Source Headline
10/8/201717:47UKREGPremier African Minerals Limited Correction: Premier Stake in Circum..
09/8/201711:34ALNCPremier African Minerals Increases Stake In Circum Minerals To 4.2%..
09/8/201710:35ALNCFAlliance News Flash Headline
09/8/201710:33UKREGPremier African Minerals Limited Premier Increases Stake in Circum Minerals..
07/8/201709:07ALNCPremier African Minerals Drills Further 14 Holes At Zulu Project
07/8/201707:00UKREGPremier African Minerals Limited Zulu Lithium Drilling Update
01/8/201709:48ALNCPremier African Minerals Continues To Fall After Zulu Site Visit
01/8/201707:01UKREGPremier African Minerals Limited Independent Zulu Site Visit Report
31/7/201710:02ALNCPremier African Minerals To Raise Funds To Increase Stake In Circum..
31/7/201707:01UKREGPremier African Minerals Limited New Funding and Project Updates
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Date Time Title Posts
18/8/201700:14Premier African Lithum/Tantulum/Tungsten3,848
17/8/201718:38PREM PREDICTION LEAGUE 2017/201818
31/7/201716:04Beware 800m shs to be issued106
30/7/201715:31Welcome to AIM listed Premier African Minerals4,583
15/7/201708:35Premier League score predictions 2,700

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Premier Afr (PREM) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-08-17 16:07:540.501,160,0005,800.00O
2017-08-17 15:26:010.51978,9004,987.50O
2017-08-17 15:23:410.5129,450150.05O
2017-08-17 15:22:530.5129,079148.16O
2017-08-17 15:22:160.5197,948499.05O
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Premier Afr (PREM) Top Chat Posts

DateSubject
17/8/2017
09:20		Premier Afr Daily Update: Premier Afr is listed in the Mining sector of the London Stock Exchange with ticker PREM. The last closing price for Premier Afr was 0.53p.
Premier Afr has a 4 week average price of 0.35p and a 12 week average price of 0.35p.
The 1 year high share price is 1.03p while the 1 year low share price is currently 0.15p.
There are currently 4,580,513,769 shares in issue and the average daily traded volume is 62,564,892 shares. The market capitalisation of Premier Afr is £22,902,568.85.
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10/8/2017
19:36		highly geared: I think a Circum event is on the near horizon and this explains the recent frantic efforts to get hold of as many shares as possible, regardless of the short term dilution and Prem share price weakness.....
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02/8/2017
15:12		hiddendepths: In view of the responses, I'll just add a little detail. Ignore it by all means. The extra dilution element only comes from the YA part of the financing. The lower the price the more shares they will get each month - as long as PREM don't make the repayments in cash, which is most unlikely IMO as they want to use cash to increase the Circum stake. So YA are clear beneficiaries from a lower price, especially in the price determination 5 day period each month. In essence, YA benefit from as much price volatility as possible so they can sell at the highs and buy at a 10% discount to the lows. This will make for an interesting share price for the next 8 months! As for the novel D-Beta financing.... If the share price averages .45p in the month before a repayment to PREM, the company will only receive £92,600 from D-Beta instead of the £275,000 that they would receive if the price was at the "Benchmark Price" of 0.77p. This makes a mockery of the assertion that the placing has been done at 0.7p! There are plenty of scenarios one can work through as to what the effective placing price is. If the share price climbs above 0.77p, D-Beta will pay the company more than £275,000 each month, although the formula is for only 75% of the surplus rather than the 100% on the downside. Furthermore, if the share price averages below about .2875p, PREM will have to pay D-Beta cash every month instead of the other way round! This may not look likely at present but it is a tangible risk - suppose the Zimbabwe Government cuts up rough for some reason or there are political disturbances. My take on this is that D-Beta would probably rather pay a smaller cash amount per month and if they can find ways of keeping the share price low for the next twelve months, that is what will happen. Clearly whatever happens to the share price, D-Beta are in a win-win situation. If the shares soar above 0.77p, they will doubtless sell plenty of shares in the market. So my take is that 0.77p is likely to be a cap to the price over the next year. But this is just my interpretation of what is going on. No doubt I'm wrong in several ways but as I'm no longer a shareholder I'm not going to dig any deeper so I'll leave it to others to come up with more sophisticated analysis!
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02/8/2017
06:53		theoriginalyoda: Exactly ted/Donald. Zulu changes every time they put a drill in the ground. You don't get Hains coming over from Canada for a spot of tea in the bush. PREM's discovery at Zulu is probably going to be one of the biggest of its kind in the world. The financing deal PREM have done is an incredibly short term one, seven months. Who is seriously going to lend a few million in cash on a short term basis, with no warrants I might add? (many of these deals end up with warrants now-a-days). The loan will ensure PREM maximise the potential at Zulu in the coming few months. IF NEEDED. The question the SEVERAL buyers who are at Zulu right now, or have visited there recently are asking themselves is, 'do we let PREM keep on drilling, increasing the value exponentially so that we have to pay much more; or do we make PREM a decent offer now considering the competitors we can see in the data room?' What would you guys do if you were stood there looking at the size and potential here and with other competitors on site. Would you want in on one of the biggest Lithium discoverys? Make no mistake folks, the Lithium is there in MASSIVE quantities. Independent world class experts like Dorfner and Hains have told us already. The assay results are coming through right now, even though the size of the discovery changes weekly, with EVERY drill. That's not exaggerating btw, one recent rns highlights ALL 11 recent drills hit mineralisation. New undiscovered pegmatites. All these new discoveries are being expedited asap. Info is being collated in both SA and Germany and will be with us quicker than two shakes of a lambs tail. Be prepared for an enlightening experience in the size, quantity and therefore valuation of mineralisation at Zulu. My advice for what it's worth. Stop looking at the daily share price Stop worrying about uninformed/uneducated chat room comments. DO NOT TAKE IN ANY POST, MY OWN INCLUDED AS GOSPEL. Read all company rns over the last year and see how Zulu and Circum have grown far bigger than even PREM thought. Sit down, drink coffee and lots of water while reaping enormous reward in a multibagging share price in a very short time. That time incidentally has already started. The assay results, are due literally as early as next week, but certainly within about a month. New results are being put in as much as possible. So sit tight and hold firm, the fundamentals in the ground are only increasing weekly. All the very best folks. You won't need it mind, just hold on to your shares very tightly because this year will very likely be the best most of you have ever experienced in investing. Don't be fooled to sell yourselves short because of idle bb chat; listen to the drum beat coming from the source through those experts on the ground. Will come back on tonight, work now calls.
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31/7/2017
18:46		billthebank: Had time to read the RNS now. Not exactly straight forward now is it? I was invested in WTI and thought they were the best thing since sliced bread until I noticed that we couldnt afford to service the debt unless the price of copper stayed at a reasonably high level. Needless to say it didnt! I exited and managed to get out reasonably well. Funnily enough their share price rose by more than 20% today and why is that at long last the price of copper is moving northwards!!! So what have we here? well we have just given security to our new lenders and they are charging us 18%. Are we mad? Please explain to me who in their right mind would borrow money at credit card rates? Really guys who would do that?I know African potash need I say more? Actually there terms were worse but not a lot worse. Totally ridiculous. Ok it is our intention to repay the debt back over 12 months. No mention of any arrangement fee but in light of the complexity of this repayment program it wont be small change. How much is that going to cost. Right repayments monies are being held aside and it is anticipated that £275K will be released on a monthly basis and if you notice this is linked to our share price. If the share price is below the subscription price of 0.77p then that spells trouble and already if we had to pay our first payment this month and our share price stayed at its current level for 10 days we would only receive £275k - (£275k X(0.77-0.52(approx)) ie approx £207K. Now YA has agreed subject to certain conditions to lend us $2.9M in two tranches and if we fail to make our monthly repayment YA will then have the right to convert any debt owing at a price value of 90% of the share price over a 5 day weighted period. Now if that happens and heaven forbid that it does we are totally stuffed as our share price will simply struggle to recover and we could be in a vicious downward spiral. IMO George did not look at all comfortable in the above pro active video and I believe that is because he did not expect such an adverse reaction to the RNS released today. Could be wrong but that is how it seemed. So definitely squeaky bum time. The question I ask myself is how long is a PEA likely to take as I believe this is so so important. Regarding RHA I believe that this is not as clear cut as first advised. From memory we were talking about in full production by Q3 but I will double check that. Now we are talking Q4 and of course the second tranche of money is kind of dependant on RHA getting its act together At the beginning I said who in their right mind would borrow money at 18%? Well George you may have an agreement to build a stake in Circum but IMO we have our fingers in too many pies and we should just focus on RHA and ZULU. If there is a deal on the table then we should take it because you know what old son this could all go horribly wrong. Personally I am locked in now as today share price reaction has caught me completely unawares and it is only now that I have had the chance to catch up, Not a happy investor as George this is not what you and your company led us to believe was going to happen. Anyone think my glass is currently half empty? please please please place a positive spin on this as I need to hear good news!!!!!!!!!
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31/7/2017
13:54		vitec: I think the sell off is overdone but the MM's are finding plenty of sellers. I think PI's are now of the opinion that all of the news is now out and that it is going to take months before the next positive news with the share price reacting accordingly. This position maybe right but I am bitterly disappointed that we are virtually back to square one in where the share price is. This is the effect that YA has on companies share price. I haven't sold and I certainly don't intend to at this price. I thought (maybe naively)that 1p was to cheap but I am still of the firm opinion that all of the ducks are being lined up and that the share price will react to the future newsflow in a positive manner. Negative sentiment usually means a big sell off and exuberance usually means the share price races ahead. The truth is it should settle somewhere in between. PREM has had large spikes in the past only to fall back. I believe I have written about this a few times in the past but I remain positive as the assets are all in situ, nothing there has changed, the only thing has changed in people's perception of where we are today
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31/7/2017
09:29		barnetpeter: This is helpful.....from LSE Just to clarify - the agreements have been specifically worked so there is NO chance of a Darwin style drop which I've read a few times this morning from some newbies. The money has specifically been set aside to pay the monthly repayment. If the share price goes up, we benefit from cash back. If the share price goes down, the deal reduces the finance we receive, not more shares issued like a Darwin deal. The equity funding, protects us, and ensures we get value for the placing at 0.7p. So if our share price goes up to 1p, we get money back as if we had raised at 1p. If it goes down, it smply limits the money raised. "In no event, will fluctuations in the company's share price result in any increase in number of shares issued." The loan company has not received any warrants - so as a sweetener their bonus comes with the Circum acquisition - where every 1% give them some cash. This has been organised to protect us, and align the companies with our growth strategy.
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09/2/2017
07:37		mike_f: For any newbies looking to get an idea of where we are and what we have to come: Courtesy of Xulu on the lse board. PART ONE Headline news - Darwin are gone, brakes are finally off as seen at end of play. So let’s get the MCap and share price back to where it belongs. But where is that you wonder? Following figures based off 4 billion share cap. Current £/$ exchange rates. Facts and figures all based from official independent data, and RNS available for anyone to read. RHA - Cash positive from 28th February. 3 weeks away. After optimisation and ramp up during Q2, we start profits of $6m/y from July. This was based off a Tungsten price of $180mtu, our off-take with Noble is discounted to the current market price. Today Tungsten has risen 10% in Value to $193-198mtu. Our margin is $50/mtu - increasing to $60/mtu at these prices. Profits therefore now $7.2m/y at current price. Commodity boom cycle is starting again, whilst worldwide Tungsten production has shrunk in the low price environment. Most producers are making a loss at these prices. Therefore Tungsten set to strengthen throughout 2017 for further profit increases at RHA. $20m owed back to PREM for the development of RHA - all profits coming to PREM for many years. Using an initial PE of 10 - we get share price of 1.45p value. Mine industry average is PE25. We have a 40 year Life of Mine after RNS in 30th November and scope to expand further when the time comes. Once established in proven sustainable profits we can expect our RHA valuation to reflect the PE25 figure. This is 3.6p from RHA alone. Again, just at current Tungsten prices. Huge upside here, as Tungsten still sat at half its previous highs. Circum - RNS on 18th October and from the proactive article - has been valued at c$42m. This is 0.85p alone pay-off. RNS states and George said in the September Presentation available on youtube - that the license was all but signed. His mates run Circum and he was previously heavily involved with the company. Morgan Stanley have been employed for almost a year now to initiate the buyout. Just waiting for the Ethiopian government to sign off. Now the local state of emergency talked about in the RNS is over, should be soon. Again, c0.85p pay-off coming. TCT - Forestry - From the RNS 31st October - Projected $750k/y profit. Imminent income. Small but adds to RHA profit. Alone TCT is worth 0.21pps. In the future this could turn into promising Limestone deposit - only in early stages, so won’t attribute any value to it. I’m not going to add these up or give exact share price predictions and exact dates - But these are the financials, these are the timelines from RNS. Just facts and figures now that we’re debt free and clear of Darwin. And that’s before we talk about Zulu…. PART TWO So Zulu. Or should I say, Zulu Limited? Assays continue to rollout over the next couple of weeks, with an official resource statement end of February/early March. So far from the RNS’s, grades and extension continue to exceed targets. “Massive visible spodumene mineralisation over significant lengths� - spodumene is the pegmatite with the highest Lithium grades. Check out David Lenigas’s twitter feed today for pictures of our samples with that visible high-grade Lithium. The anticipated resource I calculated is based off the same consistency of discovery and SG established in the historic resource statement at Zulu, then extended over the strike length and depth as George suggested to do in the September Presentation on youtube. It is not simply a cubic volume. It’s not based off a comparison to BGS’s resource, but on the previous historic resource statement established for Zulu in the RNS. Ok? Cool. So what’s the anticipated resource target? From RNS 21st July: 4 years ago, historic resource statement at Zulu of 1.4mt Li2o at 1.4%. This was only on the assumed area at the time of 460m at 50m depth. Since then we have shown it extends over 3.5km and down to 200m depth. 7 times length extension, and 4 times depth extension. And higher grades. If it does indeed extend across this strike length and at these grades as the drill assays are currently proving, then from extrapolation we are looking at 39mt @ c1.7% average is 663k T Li20. The standard conversion to LCE is 2.473 - gives a resource of 1.64mT LCE. Lithium Carbonate contracts are going for $15000/t, with spot prices in China above $25000/t. industry experts such as Michael Langford and Joe Lowry forecast it settling above $10000 for the next decade at least. Check out their twitter feeds for the latest Lithium sector news. At $10000/t - This would give an in-situ value of our anticipated 1.64mt LCE of $16.4billion. With sky high margins to boot. Average cost for a hard-rock deposit in Australia is sitting around $4-5000 before Tantalum. We’ll be a under that by quite a way due to our higher grades, and being in Zimbabwe. Just to give you an idea of the anticipated profitability of Zulu once in production. This is why George now describes it as a ‘world-class deposit’. Because it really is. With exceptional high Tantalum grades to offset production costs. Lately RNS statements include quotes such as “this data supports our belief that Zulu is one of the best hard-rock Lithium exploration projects at this time�. “World-class resource of global significance�. 
This anticipated size is hinted at in PREM’s official tweet: They pointed at BGS’s buyout offer of $107m - then said - that puts Zulu into context. Next adding: And they ONLY have 15.5mt @ 1.48%. https://twitter.com/Premafrimin/status/816367888965763073 PART THREE Please note, as per PREM website, there is an additional strike mapped and trenched which now extends us upto a 5km strike. Also, a further strike to the North of an additional 2km which has had some initial drilling done. Only the initial 3.5km will be included in the resource statement. i.e there is huge upside to the resource figures to come down the line. A total strike of 7km… Tantalum - RNS 21st October - “significantly elevated Tantalum grades in all holes up to 706ppm�. Pilbara - PLS the one everyone is raving about on ASX - shipping raw Lithium concentrate to China - only has 132ppm tantalum, with only 1.26% Li2o. On the PREM website that extended strike to the North included Tantalum grades up to 1037ppm. Conflict-free Tantalum is going for a premium nowadays after a public backlash on the cheaply acquired DRC Tantalum used by Apple/Samsung etc. The 21st Oct RNS continues: “The tantalum grades are even more significant when compared to the bell-weather Pilgangoora Lithium-Tantalum deposit, which is currently being developed in Australia by Pilbara Minerals Ltd and has reported generally lower tantalum grades than the current Zulu results received to date in their latest reserve statement in August 2016. Pilbara Minerals report that their Proved and Probable Ore Reserve are 69.8 million tonnes grading 1.26% Li2O (Spodumene) and 132ppm Ta2O5. We eagerly await the lithium assays from the South African labs.� PLS is valued at $682m aud. They started just as we did, 2 years ago had a share price of 0.04aud - in one year, between their resource statement and during development studies peaked at 0.87aud. 21 bags in a year. Now understand we have better grades of Lithium, far better grades of tantalum, and far cheaper labour and construction costs in Zimbabwe. This is why people are lining up to meet with us at Indaba. They are looking at us and they see Pilbara with their A$682m mcap in 2 years time, only better. That’s what the future for Zulu is. Except we won’t see it. PREM is offloading Zulu asap. This is why we have 20 meetings lined up at Indaba. That’s why we employed David Lenigas to facilitate the buyout. George said in the September presentation on youtube, that they have had unsolicited approaches already from “numerous people, numerous times.� But in answer to a question said he turned them down because he wants to get this resource statement out, the one coming in a few weeks, to get fair value for the project. PART FOUR So we’ve seen what Zulu may be worth in 2 years time compared to the lesser Pilbara Minerals deposit. So what’s it worth now in a months time with just a resource statement? In terms of buyout offers - BGS is the most recent and used to highlight what’s happening in the industry right now. Not wild speculation, but hard firm offers from the Chinese. $107m aud for a 229kt Li20 resource. Yup. Compare that to our anticipated 663kt Li20. A dollar for dollar amount for contained Li20 would be $310m aud - £190m. Our current fully diluted mcap today after our rise at 0.575p will be c£23m. This represents 8.26x our current value tonight. Zulu Limited could be sold imminently in one of these 20 meetings we have lined up for a 4.75p pay-off. Again, this is based off current deals in the market, and a resource based off facts in the RNS. 
The BGS deal fell through because they had trouble investing the money outside China to certain countries through Chinese red tape. As I pointed out before, on 10th January 2017, Presidents of China and Zimbabwe met in Beijing in order to smooth and encourage investment into Zimbabwe. Zimbabwe is adopting the Chinese Yuan to facilitate this. hxxps://www.dailynews.co.zw/articles/2016/05/10/zim-formalises-yuan-adoption - hxxp://www.thezimbabwedaily.com/news/108280-president-mugabes-china-master-stroke.html I don’t want to be accused of wild ramping with my anticipated resource figures, or buyout calculations. This is all based off facts and figures that i’ve illustrated and provided links for. As a minimum, noone can deny that our deposit is bigger than BGS’s. So If it turns out that I’m drastically wrong and that by some total disaster we only have the same resource size as BGS - that $107m aud buyout would still give us a pay-off worth £66m, or 1.65p. But really, as each drill/assay result rolls in, it is only proving the higher anticipated resource worth 4.75p. I’ll bring you back to RHA - 1.45p in July rising to 3.6p once established proven profits. Circum - pay-off 0.85p anytime soon, and TCT - Forestry ops worth 0.21p. Just to remind you, the only reason we have this unique chance is because of the Tungsten price falling through 2 years ago, making RHA unprofitable at the time, forcing us to go to Darwin that has crippled this company. share price had fallen from 3.4p down to 0.2p because of them. Now Darwin are gone, RHA fully funded - the hope of it alone is what started this re-rate last Monday in the RNS. With unprecedented volume last week, absolutely relentless and sustained buying pressure - totalling the entire volume of last year - we’ve finally flushed Darwin out, with RHA fully funded and Zulu drilled - It’s time to recover lost ground. This is just my research. Please look through the numbers, read the RNS, watch the presentations, and make up your own minds.
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22/8/2016
08:56		cpap man: Premier African Minerals Limited ("Premier" or the "Company") Loan Note Instrument Premier African Minerals Limited, the AIM-traded, multi-commodity resource and development company focused on Southern and Western Africa, is pleased to announce that the Company signed a subscription agreement ("Subscription Agreement") on 19 August 2016 for up to 140 Loan Notes for a gross value of up to £3,500,000. Subscription for the Loan Notes has been arranged by Darwin Strategic Limited ("Darwin"). Each Loan Note has a face value of £25,000 ("Par Value"). The Loan Notes are repayable at the rate of eight per month from 1 February 2017 and failing repayment, may be converted into new Premier ordinary shares ("Ordinary Shares") as explained under the Terms of the Loan Note. The Loan Notes will be issued across 3 issue dates ("Issue Dates"); the first 70 Loan Notes with a gross value of £1,750,000 being issued today ("Issue Date 1"), a further 35 Loan Notes with a gross value of £875,000 being issued at any time over the next 9 months ("Issue Date 2") and the remaining 35 Loan Notes with a gross value of £875,000 being issued at any time following the date falling 6 weeks after the Issue Date 2 up to the 1st year anniversary of Issue Date 1 ("Issue Date 3"). Issue Dates 2 and 3 are both at the discretion of Darwin. The net proceeds from the Loan Notes will be used to provide general working capital for the Company, and to support the exploration and development activities at the Zulu Lithium and Tantalum project ("Zulu") in particular. George Roach, CEO, commented: "This loan instrument removes any short term funding issues the company may have faced as RHA is fully optimised and ensures the rapid development of the exploration activities at the Zulu exploration tenements. In that regard, drilling is expected to commence in September 2016 and with in-house resource management and laboratory facilities at RHA, we expect a rapid and efficient turnaround from these exploration activities. This financing instrument means that there may be no dilution for shareholders due to the opportunity to repay the debt and hence avoid equity conversion. Whilst no future occurrence can be guaranteed, with, inter alia, an anticipated liquidity event from Circum, developments at RHA and the anticipated closing of the Mozambique acquisition there are reasonable prospects that repayments will be made rather than equity conversions. It is worth noting that failure to meet a repayment when due will not constitute an event of default, but rather a trigger, allowing the Note Holders the right to convert the notes as further described in this announcement." Terms of the Loan Notes For each £25,000 senior secured convertible loan note ("Loan Notes") issued, Premier will receive 90% of the Par Value, equivalent to £22,500 per Loan Note ("Issue Price"). The loan shall bear an interest of 16% per annum payable in cash monthly in arrears and calculated on the aggregate Issue Price of the Loan Notes issued. The Company will prepay a minimum of 6 months' interest on the Issue Date 1 and in the event that an amount of Loan Note is converted into equity during the first 6 months, then the prepaid interest will be deducted from future interest payments as they fall due in relation to other outstanding Loan Notes. The Loan Notes will redeem after a period of 12 months from the date of the Subscription Agreement, unless otherwise repaid or converted. The Company has provided a number of warranties to Darwin in respect of the Group. From 1 February 2017, each month Premier will redeem 8 Loan Notes in cash at a price equal to 105% of Par Value, amounting to £26,250 per Loan Note ("Amortisation Payment"). In the event that the Company fails to make the Amortisation Payment on the due date, Darwin may elect to convert up to 12 Loan Notes at 105% of Par Value into new Ordinary Shares at the conversion price of 90% of the arithmetic average of the volume weighted average share price per Ordinary Share for the five consecutive trading days selected by Darwin during a ten trading day period preceding conversion ("Conversion Feature"). In addition, the Loan Notes have certain conversion triggers that, for as long as the relevant event remains in breach and for 2 trading days after the breach has been rectified or remedied, the Loan Notes will have the right to convert into equity at 100% of Par Value on the terms of the Conversion Feature ("Conversion Triggers"). The Conversion Triggers are as follows: · The Ammonium para-tungsten (APT) price as quoted by Metal Bulletin Board on two consecutive Fridays (or if such price data is not available the nearest practical date which shall first be immediately preceding day as to the day with no available data) is at or quotes below $160 per metric ton unit (mtu) or such lower price may be mutually agreed between the Company and Darwin; · The tungsten trioxide (WO3) percentage contained in the Company's monthly production is below 60 per cent; · Outstanding Loan sums (including accrued and unpaid interest) being in excess of 20% of the Company's market capitalisation for five consecutive trading days. For the period commencing on the start date of this Subscription Agreement and expiring on the twentieth trading day thereafter, Darwin shall not be able to exercise any conversion/holder redemption pursuant to this soft trigger event. Further, in the event that either of the below triggers are breached the Loan Notes shall have conversion rights into Ordinary Shares at 100% of Par Value at any time through their term: · The TCT Industrial Florestais Limitada transaction not having closed on or by 1 November 2016; · The issue of any Loan Notes other than the Issue Date 1 Loan Notes. In addition to the other redemption rights, the Loan Notes are redeemable in the event of a change of control of Premier or the occurrence of an event of default in cash at 120% of the Par Value plus accrued but unpaid interest for as long as any Loan Note remains in issue. Furthermore, the Company together with the holders of the Loan Notes and George Roach have entered into a put option agreement ("Put Option") over the Company's shareholding of 2 million shares in Circum Minerals Limited ("Circum") at a price of US$2 per share (the "Circum Shares") or such higher value as cited in the Company's latest Annual Report, in order to provide security for the Loan Notes. The Put Option is a related party transaction for the purposes of the AIM Rules. The Board of Premier, other than George Roach, have not participated in the Put Option and are therefore independent under the AIM Rules for the purposes of considering the Put Option (the "Independent Directors"). The Independent Directors consider, having consulted with the Company's nominated adviser, that the terms of the Put Option are fair and reasonable insofar as the Company's shareholders are concerned. Darwin has also been issued with warrants equal to 30% of the aggregate Par Value of the Loan Notes issued on each relevant Issue Dates with the right to purchase 1 newly issued Ordinary Share for each warrant. The warrants have an exercise price of 125% of the initial market price, equivalent to 0.8437 pence and can be exercised within 3 years (and 7 days) of the Issue Date. As of the date of this announcement, Darwin have been issued with 77,777,778 warrants in respect of Issue Date 1. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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05/6/2015
09:35		liquid millionaire: Now that GAP has been closed the circa 3p area is offering very decent supoort chart wise to PREM plus the opportunity for some consolidation prior to the no doubt continued rise in the PREM share price to some 10p+
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03/6/2015
09:03		liquid millionaire: Yes ryan83 i remember fondly those days when it was just you and me on this PREM thread but then to be fair the PREM share price is now well on the way to 10p+
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Premier Afr share price data is direct from the London Stock Exchange
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