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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Premier African Minerals Limited | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.0025 | 1.32% | 0.1925 | 0.185 | 0.20 | 0.1925 | 0.19 | 0.19 | 9,798,875 | 09:14:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Minrls,earths-ground,treated | 0 | -5.36M | -0.0002 | -9.50 | 43.39M |
TIDMPREM
RNS Number : 3648N
Premier African Minerals Limited
31 May 2022
31 May 2022
Premier African Minerals Limited
("Premier" or the "Company")
Grant of Options
Premier African Minerals Limited (AIM: PREM), announces that, on 31 May 2022 options for 1,127,500,000 ordinary shares of no-par value in the Company were awarded to both directors and management ("Options"). Options for up to 317,500,000 ordinary shares of no-par value in the Company (the "Director Options") were awarded to Directors. In addition, the Company has also issued a further 810,000,000 options to a non-board members and management on similar terms ("Management Options").
In aggregate, the award of new Director Options to the Directors represents approximately 1.42 per cent. of the Company's current issued share capital and is therefore not being treated as a Related Party Transaction under AIM Rule 13.
Further details of the Options awards are set out below:
Director New options Exercise First exercise date Expiry awarded price date George Roach 65,000,000 Nil Cost The sooner of 31 May 2023 31 May 2032 or completion of the Definitive Feasibility Study at the Zulu Lithium Project. 65,000,000 0.4p 1 December 2023 31 May 2032 65,000,000 0.5p 31 May 2024 31 May 2032 65,000,000 0.5p 1 December 2024 31 May 2032 Godfrey 40,000,000 Nil Cost The sooner of 31 May 2023 31 May 2032 Manhambara or completion of the Definitive Feasibility Study at the Zulu Lithium Project. Wolfgang 17,500,000 Nil Cost The sooner of 31 May 2023 19 January Hampel or completion of the Definitive 2027 Feasibility Study at the Zulu Lithium Project. Note: Further details are set out in the Appendix.
Option Schedule
122,500,000 of the Director Options and 202,500,000 Management Options will be exercisable and converted into ordinary shares in the Company at a nil cost on the sooner of 31 May 2023 or completion of the Definitive Feasibility Study at the Zulu Lithium Project.
65,000,000 of the Director Options and 202,500,000 Management Options will be exercisable and converted into ordinary shares in shares in the Company from1 December 2023 at a price 0.4p.
65,000,000 of the Director Options and 202,500,000 Management Options will be exercisable and converted into ordinary shares in shares in the Company from 31 May 2024 at a price 0.5p.
65,000,000 of the Director Options and 202,500,000 Management Options will be exercisable and converted into ordinary shares in shares in the Company from 1 December 2024 at a price 0.5p.
The Director Options and the Management Options will, unless otherwise exercised, all expire on 31 May 2032.
Following this issue of Options, the Company has a total of 1,251,950,860 ordinary shares under option, equivalent to approximately 5.03 per cent of the Company's current issued ordinary share capital.
Enquiries
Premier African Minerals Tel: +27 (0) 100 George Roach Limited 201 281 Michael Cornish Beaumont Cornish Limited Tel: +44 (0) 20 / Roland Cornish (Nominated Adviser) 7628 3396 --------------------------- ----------------- Shore Capital Stockbrokers Tel: +44 (0) 20 John More/Toby Gibbs Limited 7408 4090 Tel: +1 646 495 Matthew Bonner EAS Advisors LLC 2225 --------------------------- -----------------
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 accepted a share offer by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8 per cent interest in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, for a 13.1 per cent interest in the enlarged share capital of Vortex. Vortex has an interest of 36.7 per cent in Circum.
In addition, the Company holds a 19 per cent interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.
APPIX
1 Details of the person discharging managerial responsibilities / person closely associated a) Name George Roach -------------------------- -------------------------------------- 2 Reason for notification ------------------------------------------------------------------ a) Position / status Director -------------------------- -------------------------------------- b) I nitial notification Initial /Amendment -------------------------- -------------------------------------- 3 Details of t he issu er, emission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor ------------------------------------------------------------------ a) Name Premier African Minerals Limited -------------------------- -------------------------------------- b) LEI Not applicable -------------------------- -------------------------------------- 4 Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted ------------------------------------------------------------------ a) Description of the Ordinary shares of 0.01 pence each financial instrument, in Premier African Minerals Limited t ype of instrument I d e ntification ISIN VGG7223M1005 code -------------------------- -------------------------------------- Nature of the transaction Issue of options over Ordinary Shares -------------------------- -------------------------------------- Price(s) and volumes(s) Price(s) Volumes(s) Nil Cost 65,000,000 ----------- GBP0.004 65,000,000 ----------- GBP0.005 65,000,000 ----------- GBP0.005 65,000,000 ----------- -------------------------- -------------------------------------- d) Aggregated information n/a -------------------------- -------------------------------------- e) Date of the transaction 31 May 2022 -------------------------- -------------------------------------- f) Place of the transaction Outside a trading venue -------------------------- -------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Godfrey Manhambara -------------------------- -------------------------------------- 2 Reason for notification ------------------------------------------------------------------ a) Position / status Director -------------------------- -------------------------------------- b) I nitial notification Initial /Amendment -------------------------- -------------------------------------- 3 Details of t he issu er, emission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor ------------------------------------------------------------------ a) Name Premier African Minerals Limited -------------------------- -------------------------------------- b) LEI Not applicable -------------------------- -------------------------------------- 4 Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted ------------------------------------------------------------------ a) Description of the Ordinary shares of 0.01 pence each financial instrument, in Premier African Minerals Limited t ype of instrument I d e ntification ISIN VGG7223M1005 code -------------------------- -------------------------------------- Nature of the transaction Issue of options over Ordinary Shares -------------------------- -------------------------------------- Price(s) and volumes(s) Price(s) Volumes(s) Nil Cost 40,000,000 -----------
-------------------------- -------------------------------------- d) Aggregated information n/a -------------------------- -------------------------------------- e) Date of the transaction 31 May 2022 -------------------------- -------------------------------------- f) Place of the transaction Outside a trading venue -------------------------- -------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Wolfgang Hampel -------------------------- -------------------------------------- 2 Reason for notification ------------------------------------------------------------------ a) Position / status Director -------------------------- -------------------------------------- b) I nitial notification Initial /Amendment -------------------------- -------------------------------------- 3 Details of t he issu er, emission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor ------------------------------------------------------------------ a) Name Premier African Minerals Limited -------------------------- -------------------------------------- b) LEI Not applicable -------------------------- -------------------------------------- 4 Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted ------------------------------------------------------------------ a) Description of the Ordinary shares of 0.01 pence each financial instrument, in Premier African Minerals Limited t ype of instrument I d e ntification ISIN VGG7223M1005 code -------------------------- -------------------------------------- Nature of the transaction Issue of options over Ordinary Shares -------------------------- -------------------------------------- Price(s) and volumes(s) Price(s) Volumes(s) Nil Cost 17,500,000 ----------- -------------------------- -------------------------------------- d) Aggregated information n/a -------------------------- -------------------------------------- e) Date of the transaction 31 May 2022 -------------------------- -------------------------------------- f) Place of the transaction Outside a trading venue -------------------------- --------------------------------------
ENDS
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END
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(END) Dow Jones Newswires
May 31, 2022 02:01 ET (06:01 GMT)
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