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Successful Fundraising

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RNS Number : 5936W
Premier African Minerals Limited
12 December 2019
 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.

 

For immediate release

12 December 2019

 

Premier African Minerals Limited

("Premier African" or the "Company") (AIM: PREM)

 

Successful Fundraising via PrimaryBid

 

Premier African announced on 11 December 2019 the launch of an offer via PrimaryBid (the "Offer").

 

The Company is pleased to announce that the PrimaryBid Offer successfully completed and closed at 9 p.m. on 11 December 2019.

 

Following the successful closing of the Offer, the Company has raised gross proceeds of £262,293.00 at an issue price 0.1 pence per ordinary share via the Fundraising.

 

The Company has therefore issued 262,293,000 New Ordinary Shares to satisfy the Fundraising. Application will be made for the New Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM and admission is expected to take place on 18 December 2019

 

George Roach, CEO commented: "With our Zimbabwean operations being on the verge of hopefully turning a corner, we believe that this was a good opportunity for investors to participate in a fundraise on the retail friendly platform of PrimaryBid.

 

We wish to express our sincerest appreciation to all participants in this successful fundraise."

 

Total Voting Rights

 

Following the issue of the New Ordinary Shares, the Company will have 11,266,071,580 ordinary shares of nil par value in issue. The figure of 11,266,071,580 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.

 

Defined terms in this announcement shall have the same meaning as in the Company announcement of 11 December 2019, unless otherwise specified.

 

Enquiries

 

Premier African Minerals

Fuad Sillem

 

+44 (0)7734 922074

PrimaryBid Limited

Kieran D'Silva

 

+44 (0)203 026 4750

Beaumont Cornish Limited, Nominated Advisor

Michael Cornish / Roland Cornish

+44 (0) 20 7628 3396

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Premier African Minerals Ltd

Price: 0.085

Market: AIM
Market Cap: £9.58 m
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