Business
Additional Funding for Zulu
Additional Funding for Zulu.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n\n12 April 2024\nPremier African Minerals Limited\n \nAdditional Funding for Zulu\n \nPremier African Minerals Limited (\"Premier\" or the \"Company\") is pleased to announce that following strong institutional interest following the funding announced on 11 April 2024, the Company has agreed to accept a further subscription of 588,235,294 new ordinary shares to raise approximately £1 million before expenses at the same issue price of 0.17 pence per new ordinary share primarily for the Zulu Lithium and Tantalum Project (\"Zulu\").\nFunding and Subscription\n \nPremier has today issued by way of a direct subscription (\"Subscription\"), conditional on admission, 588,235,294 new ordinary shares of nil par value (\"Subscription Shares\") at a Subscription price of 0.17 pence per Subscription Share. The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. CMC Markets UK Plc trading as CMC CapX, acted as the Company's placing agent in respect of the Subscription.\nApplication will be made for the Subscription Shares to be admitted to trading on AIM and admission is expected to take place on or around 19 April 2024.\n \nThe Subscription has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the Subscription principally to assist with the ongoing mining operations at Zulu and general working capital.\n \nTotal Voting Rights\nFollowing the issue of the Subscription Shares, the Company's issued share capital consists of 29,616,938,211 Ordinary Shares, with voting rights.\n \nThis 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.\n \nMarket Abuse Regulations\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (\"UK MAR\").\n \nThe person who arranged the release of this announcement on behalf of the Company was George Roach.\...