Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) has issued two billion new shares on trust to settle its China Zenith Capital liability.
These Settlement Shares will be sold under orderly market conditions over time with the proceeds applied in settlement of the £1,383,092.27 liability (excluding interest) owed to China Zenith.
To the extent net proceeds are insufficient to meet the Zenith liability, any difference will be settled in cash.