Exercise of Share Options and Director's Dealings

RNS Number : 5052U

Premier African Minerals Limited

30 July 2015

 

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

30 July 2015

Premier African Minerals Limited

("Premier" or the "Company")

 Exercise of share options and director's dealings

Total Voting Rights

Premier African Minerals Limited, the AIM-traded, multi-commodity mining and resource development company focused on Southern and Western Africa, announces that on 29 July 2015 Ian Stalker, a director of the Company, exercised 1,000,000 share options and certain employees exercised 6,500,000 share options at 1.15 pence per share (together, "the Options") that had been granted to them on 29 July 2014.

The 7,500,000 new ordinary shares when issued on exercise of the Options ("New Shares") will rank pari passu in all respects with the existing ordinary shares. Application will be made for the New Shares to be admitted to trading on AIM and admission is expected to take place on or around 3 August 2015. The gross proceeds of the exercise of the Options amounts to £86,250 and will be used by the Company to provide additional working capital for the development of its projects.

In addition, the Company was informed on 29 July 2015 that Ian Stalker, sold 1,000,000 ordinary shares at a price of 2.10p per ordinary share. As a result Ian Stalker is interested in 11,466,476 ordinary shares representing 1.7 per cent. of the enlarged issued share capital.

Securities now in issue   

Following the issue of the New Shares, the Company's issued share capital consists of 681,908,376 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.

Enquiries:

Pamela Hueston	Premier African Minerals Limited	Tel: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Jerry Keen/ Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: [phone]
Kelsey Traynor/Dominic Barretto	Yellow Jersey PR Limited	Tel: [phone]

Notes

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and 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 includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Togo, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company also holds 2 million 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$2.5 million based on the latest price at which Circum has accepted subscriptions.

ENDS

 

END

 

 

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