2nd Oct 2015 13:18
LONDON (Alliance News) - Premier African Minerals Ltd Friday said it has issued 6.6 million shares to the National Indigenisation and Economic Empowerment Fund at 1 pence each to make its first tranche payment of USD100,000.
The company owes NIEEF USD750,000 in total in either cash or shares through eight tranche payments.
On Wednesday, Premier African said it had entered into a deed of variation through ZimDiv Holdings Ltd with RHA Tungsten (Private) Ltd, NIEEF, and RHA Tungsten Mauritius Ltd, to allow it to pay the amount in either cash or tranches of shares instead of as a lump sum.
Shares in Premier African were trading down 5.7% at 1.13 pence Friday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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