Grant of Options

Premier African Minerals Limited

27 May 2026

 

27 May 2026

Premier African Minerals Limited

("Premier" or the "Company")

Grant of Options  

Premier African Minerals Limited (AIM: PREM), announces that, on 27 May 2026 options for 2,400,000,000 new ordinary shares of no-par value in the Company were awarded to both directors and management ("Options"). The Director Options and the Management Options will, unless otherwise exercised, all expire on 27 May 2037.

Following this issue of Options, the Company has a total of 2,512,750,000 ordinary shares under option, equivalent to approximately 6.4 per cent of the Company's current issued ordinary share capital.

In making the new option awards, the Board considers that the management remuneration and incentives align with long-term shareholder value creation and provide commercial protections for the Company and its shareholders as a whole. In particular, the options vest over time in four (4) equal tranches subject to the conditions described below, aligning the interests of the option holders with shareholders. The exercise price of the first option tranche of 0.0185 pence has been set at the last placing price (as announced on 13 May 2026), and thereafter subsequent tranches have an increasing exercise price.

Director Options

Options to subscribe for 720,000,000 new ordinary shares of no-par value in the Company (the "Director Options") were awarded to Directors. In aggregate, the award of new Director Options to the Directors represents approximately 1.83 per cent. of the Company's current issued share capital. There have been no other awards to the Directors in the prior 12-month period. Further details of the Director Options awards are set out below:

Director	New options awarded	Exercise price	First exercise date	Expiry date
Graham Hill	100,000,000	0.0185 pence	The sooner of 27 May 2027 or production of 12,000 tons of SC6 at Zulu Lithium.	27 May 2037
	100,000,000	0.023 pence	The sooner of 27 November 2027 or production of 24,000 tons of SC6 at Zulu Lithium.	27 May 2037
	100,000,000	0.028 pence	The sooner of 27 May 2028 or production of 36,000 tons of SC6 at Zulu Lithium.	27 May 2037
	100,000,000	0.036 pence	The sooner of 27 May 2029 or production of 48,000 tons of SC6 at Zulu Lithium.	27 May 2037
Godfrey Manhambara	80,000,000	0.0185 pence	The sooner of 27 May 2027 or production of 12,000 tons of SC6 at Zulu Lithium.	27 May 2037
	80,000,000	0.023 pence	The sooner of 27 November 2027 or production of 24,000 tons of SC6 at Zulu Lithium.	27 May 2037
	80,000,000	0.028 pence	The sooner of 27 May 2028 or production of 36,000 tons of SC6 at Zulu Lithium.	27 May 2037
	80,000,000	0.036 pence	The sooner of 27 May 2029 or production of 48,000 tons of SC6 at Zulu Lithium.	27 May 2037
Note: Further details are set out in the Appendix.

Management Options

In addition, the Company has also issued a further 1,680,000,000 options to a non-board members and management on similar terms to the Director Options ("Management Options") and which vest in four equal tranches as follows

Ø	420,000,000 Management Options will be exercisable and converted into new ordinary shares in the Company at a price 0.0185 pence on the sooner of 27 May 2027 or production of 24,000 tons of SC6 at Zulu Lithium;
Ø	420,000,000 Management Options will be exercisable and converted into new ordinary shares in the Company at a price 0.023 pence on the sooner of 27 November 2027 or production of 24,000 tons of SC6 at Zulu Lithium;
Ø	420,000,000 Management Options will be exercisable and converted into new ordinary shares in the Company at a price 0.028 pence on the sooner of 27 May 2028 or production of 36,000 tons of SC6 at Zulu Lithium; and
Ø	420,000,000 Management Options will be exercisable and converted into new ordinary shares in the Company at a price 0.036 pence on the sooner of 27 May 2029 or production of 48,000 tons of SC6 at Zulu Lithium.

A copy of this announcement is available at the Company's website, https://premierafricanminerals.com/.

Enquiries

Graham Hill	Premier African Minerals Limited	Tel: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Douglas Crippen	CMC Markets UK Plc	Tel: [phone]
Toby Gibbs/Harry Davies-Ball	Shore Capital Stockbrokers Limited	Tel: [phone]

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

Notes to Editors

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe encompassing brownfield projects with near-term production potential to grass-roots exploration.

APPENDIX

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Graham Hill
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission 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 VGG7223M1187
	Nature of the transaction	Issue of options over Ordinary Shares
	Price(s) and volumes(s)	Price(s) Volumes(s) £0.000185 100,000,000 £0.00023 100,000,000 £0.00028 100,000,000 £0.00036 100,000,000
d)	Aggregated information	n/a
e)	Date of the transaction	27 May 2026
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Godfrey Manhambara
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission 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 VGG7223M1187
	Nature of the transaction	Issue of options over Ordinary Shares
	Price(s) and volumes(s)	Price(s) Volumes(s) £0.000185 80,000,000 £0.00023 80,000,000 £0.00028 80,000,000 £0.00036 80,000,000
d)	Aggregated information	n/a
e)	Date of the transaction	27 May 2026
f)	Place of the transaction	Outside a trading venue

ENDS

 

END