Business
Creditor Settlement
Premier African Minerals Limited has settled approximately £0.163 million in creditor invoices and an additional £0.054 million for salaries and consultant payments by issuing a total of 1,177,475,676 new ordinary shares at an issue price of 0.0185 pence per share. This issuance, which brings the total issued share capital to 39,303,760,989 ordinary shares, is part of the company's strategy to preserve working capital and focus on the Zulu Lithium and Tantalum Project. The new shares will rank pari passu with existing shares, and application has been made for their admission to trading on AIM, expected around May 27, 2026. Disclaimer*
About this update from Premier African Minerals Ltd.
20 May 2026 Premier African Minerals Limited Creditor Settlement Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that it has reached agreement with certain creditors to settle outstanding liabilities through the issuance of new ordinary shares in the Company (the "Settlement"). The Settlement forms part of the Company's ongoing creditor management strategy and is intended to preserve working capital while enabling Premier to continue focusing on the advancement of the Zulu Lithium and Tantalum Project and its broader operational objectives. Settlements The Company has today settled creditor invoices totalling approximately £0.163 million through the issue of 881,706,541 new ordinary shares in the Company at an issue price of 0.0185 pence per new ordinary share (the "Issue Price"), being the same price as the Company's most recent placing as announced on 13 May 2026. In addition, a further £0.054 million owed in respect of accrued but unpaid salaries and payments owing to former consultants and directors has been settled through the issue of a further 295,769,135 new ordinary shares in the Company at the Issue Price. In aggregate, the Company has agreed to issue 1,177,475,676 new ordinary shares pursuant to the settlement arrangements (the "Settlement Shares"). Admission Application is being made for the Settlement Shares to be admitted to trading on AIM and admission is expected to take place on or around 27 May 2026. The Settlement Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Total Voting Rights Following the issue of the Settlement Shares, the Company's issued share capital consists of 39,303,760,989 Ordinary Shares, with voting rights. 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. Market Abuse Regulations The 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 Dome...
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