Premier African Minerals Limited

Share Issue/Capital Change • May 29, 2019

National Storage Mechanism | Additional information

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RNS Number : 3929A

Premier African Minerals Limited

29 May 2019

For immediate release

29 May 2019

Premier African Minerals Limited

("Premier" or the "Company")

Issue of equity and Director / PDMR shareholding

The Company announces that the Board on 28 May 2019 issued new ordinary shares to Directors and employees and to certain third parties in settlement of accrued but unpaid amounts due, amounting in aggregate to £145,787 ("Settlement Shares").

The Company issued 54,241,382 Settlement Shares to Directors in settlement of accrued but unpaid fees (amounting in aggregate to £48,817) at an issue price of 0.09p per share, in total representing approximately 0.69 per cent. of the current issued share capital, as set out in the table below:

Individual	Amount settled in Settlement Shares (Note 1)	Issue price of Settlement Shares	Settlement Shares issued (Note 1)	Total Shareholding following the issue of the Settlement Shares	Shareholding in the enlarged issued share capital
Director:
George Roach	£22,219	0.09p	24,688,014	643,484,623	8.05%
Godfrey Manhambara	£3,750	0.09p	4,166,667	4,166,667	0.05%
Michael Foster	£7,100	0.09p	7,888,889	16,343,434	0.20%
Wolfgang Hampel	£15,873	0.09p	17,497,813	17,636,667	0.22%

Note 1:     The amount settled in shares has been rounded to the nearest whole pound in the table above. The calculation of settlement shares issued was made on the monetary amount settled to four decimal places. Any differences are due to rounding.

In addition, a further 39,966,803 Settlement Shares have been issued to certain employees in settlement of accrued but unpaid salaries due of £35,970 (see Note 1 above) at the Issue Price, and 67,777,778 Settlement Shares to third parties in settlement of accrued but unpaid amounts owed of £61,000 (see Note 1 above), also at the Issue Price.

The Settlement Shares, amounting in aggregate to 161,985,963 new Ordinary Shares, will rank pari passu in all respects with the Company's existing issued ordinary shares and application will be made for admission of the Settlement Shares to trading on AIM ("Admission"), which is expected to occur on or about 5 June 2019.

Total Voting Rights

In conformity with the Disclosure and Transparency Rules of the Financial Conduct Authority ("FCA"), the Company announces the following:

As at the date of this announcement, following the cancellation of the KME Payment Shares as announced on 28 May 2019 and the issue of the Settlement Shares on 28 May 2019, the Company's issued share capital consists of 7,990,110,150 Ordinary Shares, with voting rights. ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 7,990,110,150. 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was George Roach.

Enquiries:

Fuad Sillem	Premier African Minerals Limited	Tel: +44 (0)7734 922074
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: +44 (0) 20 7628 3396
Jerry Keen/Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: +44 (0) 20 7408 4090
Tom Curran/Elliot Hance	SVS Securities Limited	Tel: +44 (0) 20 3700 0100

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. In addition, the Company holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia.

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.    George Roach

2.    Godfrey Manhambara

3.    Michael Foster

4.    Wolfgang Hempel

2

Reason for the notification

a)

Position/status

1.    Chief Executive

2.    Non-executive director

3.    Non-executive director

4.    Executive director

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Premier African Minerals Limited

b)

LEI

213800WDKYXYJZE5DZ61

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

Ordinary shares of no par value in Premier African Minerals Limited

Identification code

ISIN: VGG7223M1005

b)

Nature of the transaction

Issue of Ordinary Shares

c)

Price(s) and volume(s)

Director	Price		Volume(s)
George Roach	£	0.0009	24,688,014
Godfrey Manhambara	£	0.0009	4,166,667
Michael Foster	£	0.0009	7,888,889
Wolfgang Hempel	£	0.0009	17,497,813

d)

Aggregated information

- Aggregated volume

54,241,382 Ordinary Shares

- Price

0.09p

e)

Date of the transaction

28 May 2019

f)

Place of the transaction

Outside a trading venue

ENDS

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