10th Feb 2015 13:06
Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
10 February 2015
Premier African Minerals Limited ("Premier" or "the Company")
Exercise of Options and Directors' Dealings
Premier African Minerals Limited, the AIM-traded, multi-commodity natural resource company with mineral projects located in Southern and Western Africa, announces that it has been notified on
10 February 2015, that on the same date Mr John Stalker, Non-Executive Director, Ms Pamela Hueston, Finance Director and Mr George Roach, Chief Executive Officer exercised options over 12,206,271 ordinary shares at nil cost per share in the capital of the Company ("New Shares") pursuant to the terms of the 2012 Share Option Plan. Further details are set out below:
Director | Options Exercised | Exercise Price | Resultant holding of Ordinary Shares | % of enlarged issued share capital |
Mr George Roach | 2,516,757 | Nil cost | 208,012,019 | 40.4% |
Ms Pamela Hueston | 4,026,811 | Nil cost | 4,026,811 | 0.8% |
Mr John Stalker | 5,662,703 | Nil cost | 11,466,476 | 2.2% |
Total | 12,206,271 | 223,505,306 | 43.4% |
The 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 16 February 2015.
Following the issue of the New Shares, the Company's issued share capital consists of 515,322,851 ordinary shares, with voting rights. 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.
For further information please visit www.premierafricanminerals.com or contact the following:
Pamela Hueston | Premier African Minerals Limited | Tel: +44 (0) 755 778 3855 |
Michael Cornish / Roland Cornish | Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 (0) 207 628 3396 |
Jerry Keen/ Edward Mansfield | Shore Capital Stockbrokers Limited | Tel: +44 (0) 207 408 4090 |
Tim Blythe/ Halimah Hussain | BlytheWeigh | Tel: +44 (0) 207 138 3204 |
Notes
Premier African Minerals Limited (AIM: PREM) is a multi-commodity exploration and development company focused in Southern and Western Africa. The Company has a diverse portfolio of multi-commodity projects which includes tungsten, rare earth elements, gold, lithium, tantalum, graphite and uranium in Zimbabwe and Togo, which span from brownfield projects with near-term production potential to grass-roots exploration. The Company holds 2m shares in Circum Minerals Ltd ("Circum"), the owners of the Danakil Potash Project. At present those shares are valued at US$2.5m based on the latest price at which Circum has accepted subscriptions.
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Premier African Minerals