Grant of Options

RNS Number : 6564U

Premier African Minerals Limited

19 January 2017

 

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

For immediate release

19 January 2017

Premier African Minerals Limited

("Premier" or the "Company")

Grant of Options  

Premier African Minerals Limited (AIM: PREM), announces that, on 19 January 2017 options for up to 61,000,000 ordinary shares of no par value in the Company (the "Options") were awarded to Directors. 30,500,000 Options are exercisable at a price of 0.28p per ordinary share on or after 19 January 2018 and 30,500,000 Options are exercisable at a price of 0.4 pence per ordinary share on or after 19 January 2019. In aggregate, the new Options issued to the Directors represent approximately 2.6 per cent. of the Company's current issued share capital and further details of the Options awards are set out below:

Director	New options awarded	Exercise price	First exercise date	Expiry date
Russel Swarts	7,000,000	0.28p	19 January 2018	19 January 2027
	7,000,000	0.4p	19 January 2019	19 January 2027
Michael Foster	7,000,000	0.28p	19 January 2018	19 January 2027
	7,000,000	0.4p	19 January 2019	19 January 2027
Ian Stalker	7,000,000	0.28p	19 January 2018	19 January 2027
	7,000,000	0.4p	19 January 2019	19 January 2027
George Roach	9,500,000	0.28p	19 January 2018	19 January 2027
	9,500,000	0.4p	19 January 2019	19 January 2027

Note:Further details are set out in the Appendix.

In accordance with, and subject to the terms of the Company's Share Option Scheme, the Options shall vest as to one half on the first anniversary of the date of grant (the date of grant being 19 January 2017) and the balance on the second anniversary.

In addition, the Company has also issued a further 100,877,130 options to a non-board members and management on similar terms ("Management Options"). 50,438,565 Management Options are exercisable at a price of 0.28p per ordinary share on or after 19 January 2018 and 50,438,565 Management Options are exercisable at a price of 0.4 pence per ordinary share on or after 19 January 2019. The Options and the Management Options will all expire on 19 January 2027.

Following this issue of Options and the Management Options, the Company has a total of 187,890,534 ordinary shares under option, equivalent to approximately 9 per cent of the Company's current issued ordinary share capital.

Enquiries:

Fuad Sillem	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]
Jon Belliss	Beaufort Securities Limited	Tel: [phone]
Charles Goodwin/ Harriet Jackson	Yellow Jersey PR Limited	Tel: +44 (0)  7747 788221

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. The Company recently acquired a 52% controlling stake in Mozambique-based TCT Industrias Florestais Limitada, which owns a substantial limestone deposit and forestry business located on rail in the Sofala Province of Mozambique. In addition, The Company 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$4 million based on the latest price at which Circum has accepted subscriptions. Premier also has a 4.5% interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.2 million ounce inferred resource Akyanga gold deposit in the DRC.

APPENDIX

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Michael Foster
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Premier African Minerals Limited
b)	LEI	Not applicable
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  the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 pence each in Premier African Minerals Limited ISIN VGG7223M1005
	Nature of the transaction	Issue of options over Ordinary Shares
	Price(s) and volumes(s)	Price(s) Volumes(s) 0.28p   7,000,000 0.4p 7,000,000
d)	Aggregated information	n/a
e)	Date of the transaction	19 January 2017
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Ian Stalker
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Premier African Minerals Limited
b)	LEI	Not applicable
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  the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 pence each in Premier African Minerals Limited ISIN VGG7223M1005
	Nature of the transaction	Issue of options over Ordinary Shares
	Price(s) and volumes(s)	Price(s) Volumes(s) 0. 28p   7,000,000 0.4p 7,000,000
d)	Aggregated information	n/a
e)	Date of the transaction	19 January 2017
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

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 /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Premier African Minerals Limited
b)	LEI	Not applicable
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  the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 pence each in Premier African Minerals Limited ISIN VGG7223M1005
	Nature of the transaction	Issue of options over Ordinary Shares
	Price(s) and volumes(s)	Price(s) Volumes(s) 0.28p  9,500,000 0.4p 9,500,000
d)	Aggregated information	n/a
e)	Date of the transaction	19 January 2017
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Russel Swarts
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Premier African Minerals Limited
b)	LEI	Not applicable
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  the financial instrument, type of instrument Identification code	Ordinary shares of 0.01 pence each in Premier African Minerals Limited ISIN VGG7223M1005
	Nature of the transaction	Issue of options over Ordinary Shares
	Price(s) and volumes(s)	Price(s) Volumes(s) 0.28p   7,000,000 0.4p 7,000,000
d)	Aggregated information	n/a
e)	Date of the transaction	19 January 2017
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

ENDS

 

END

 

 

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