Over the past 18 months, Premier African Minerals has made significant progress in the development of the Zulu Lithium Project in Zimbabwe and given the market valuations for comparable hard-rock lithium projects, the board believes that significant value can be unlocked for shareholders by having a separate listing for Zulu.
Premier African Minerals is currently therefore considering with its advisers a separate listing of Zulu in London.
The listing is intended to take place as soon as possible, subject to regulatory and other approvals.
Premier African Minerals intends, subject to appropriate legal and taxation advice, to distribute (at nil cost) to Premier shareholders at the time of listing a substantial proportion of Premier’s retained interest in Zulu Newco.
“It is evident that a separate listing of Zulu Lithium has the potential to unlock significant value based on comparable hard-rock lithium projects,” comments Premier African Minerals CEO, George Roach.
“I am also pleased to state that Premier intends to distribute a substantial proportion of its retained shares in the separately listed Zulu to Premier shareholders in the most efficient manner at that time to enable them to directly benefit from any value uplift.”
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