African Pioneer Plc was incorporated on 20 July 2012 in the Isle of Man as a Special Purpose Vehicle (“SPV”) to identify opportunities in the mining sector in Sub-Saharan Africa, with a focus on base metals including Copper, Nickel, Lead and Zinc.
The company was incorporated as a subsidiary of Tiger Royalties and Investments Plc as part of its proactive policy to acquire mineral exploration assets, raise equity funding and package such assets either in newly incorporated SPV’s or in existing AIM quoted companies which had lost direction. The management team believed that there existed a number of investment opportunities in the Sub-Saharan Africa mining sector which could enable the Company to achieve its objective of delivering substantial capital growth for shareholders through the creation and progression of a significant company in that sector.
The Company raised a total of £403,000 and the company’s Ordinary Shares were admitted to trading on ISDX markets. Having looked at several opportunities post its admission it was not able to conclude a transaction. There followed a few tough years in the natural resource markets, and they resolved to de-list with a view to preserving its cash and assets.
The Company has now identified suitable assets in the mining sector based in Zambia, Namibia and Botswana and is looking to take advantage of healthier resource markets to acquire these assets and raise sufficient funds for a Standard Listing.
Admission to Trading on the Official List
On 1st June 2021, dealings commenced by way of a Placing of 50,000,000 Placing Shares at a Placing Price of 3.5 pence per share.
The Perivan shareholder communications team were delighted to work with Beaumont Cornish Limited who acted as Financial Adviser to African Pioneer on the successful publication of the 294-page prospectus.
Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.