Business
Successful Fundraising of £3.5M via PrimaryBid
Successful Fundraising of £3.5M via PrimaryBid.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \nRNS Number : 3353S Premier African Minerals Limited 02 October 2017 \n\n \nFor immediate release\n2 October 2017\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\n \nPremier African Minerals Limited\n (\"Premier\" or the \"Company\")\nSuccessful Fundraising of £3.5 Million via PrimaryBid\nRepayment of Loan Note and Repurchase of Swap Agreement Shares\nPremier African Minerals Limited (AIM: PREM), AIM-traded multi-commodity mining and resource development company focused on Southern and Western Africa, announced on 29 September 2017 an underwritten offer to raise approximately £3.5 million (before expenses) at 0.3p per new Ordinary Share (the \"Offer\"). The Offer was made exclusively available through PrimaryBid.com.\nThe Offer received a strong response from private as well as institutional investors. The Offer was on a \"first come, first served\" basis and was closed at 5:00 p.m. on Sunday 1 October 2017. The Company has raised gross proceeds of £3,500,000 through the Offer.\nThe Company will issue and allot an additional 654,761,906 new Ordinary Shares at 0.3p each over and above the shares already issued in regard to the swap agreement. The shares already issued in regard to the swap agreement will be repurchased by the Company and re-issued to subscribers under the Offer. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares and application will be made for the new Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on or around 6 October 2017.\nTotal Voting Rights\nFollowing the issue of the new Ordinary Shares, the Company will have 6,248,216,350 Ordinary Shares in issue. This figure may be used by the Company's shareholders as the denominator for the calculations by which they...