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: +44 (0)7734 922074

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

Jon Belliss

Beaufort Securities Limited

Tel: +44 (0) 20 7382 8300

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 issueremission 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 issueremission 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 issueremission 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 issueremission 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

 

 


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