Bushveld Minerals Limited Results of General Meeting (9634Z)
December 20 2017 - 8:45AM
UK Regulatory
TIDMBMN
RNS Number : 9634Z
Bushveld Minerals Limited
20 December 2017
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
20 December 2017
Bushveld Minerals Limited
("Bushveld" or the "Company")
Results of General Meeting
Bushveld Minerals Limited (AIM: BMN), a mineral project
development company with a portfolio of vanadium and coal assets in
Southern Africa and a minority investment in tin, is pleased to
announce that the proposed resolutions, put to shareholders at the
General Meeting were duly passed, including the resolution to
approve the acquisition of 55 per cent of the Issued Share Capital
of Bushveld Vametco. The final proxy position for each resolution
is detailed in the table below.
Resolutions Votes Votes Total votes
for against cast
---------------------------------- ------------ --------- ------------
1. To approve the
Acquisition 284,582,939 0 284,582,939
---------------------------------- ------------ --------- ------------
2. Directors be authorised
to issue up to 287,793,087
shares 284,582,939 0 284,582,939
---------------------------------- ------------ --------- ------------
Special Resolution
---------------------------------- ------------ --------- ------------
3. To dis-apply pre-emption
rights in respect
of 100,000,000 shares 284,582,939 0 284,582,939
---------------------------------- ------------ --------- ------------
Total voting rights
Application has been made to the London Stock Exchange for the
Consideration Shares to be admitted to trading on AIM and this is
expected to become effective at 8.00 a.m. on Thursday 21 December
2017 ("Admission"). On Admission, the Company's issued share
capital will consist of 875,894,905 ordinary shares of 1 pence each
("Ordinary Shares"), of which 670,000 Ordinary Shares are held in
treasury as at the date of this announcement.
The total of 875,224,905 Ordinary Shares may therefore be used
by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
Enquiries: info@bushveldminerals.com
Bushveld Minerals +27 (0) 11 268 6555
Fortune Mojapelo, Chief
Executive Officer
SP Angel Corporate Finance
LLP +44 (0) 20 3470 0470
Nominated Adviser & Broker
Ewan Leggat
Blytheweigh
Financial PR
Tim Blythe / Nick Elwes +44 (0) 207 138 3204
Gabriella von Ille +27 (0) 711 121 907
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is an AIM listed mineral project development
company with a portfolio of vanadium and coal assets in Southern
Africa and a minority investment in tin.
The Company's flagship vanadium platform includes a 59.1%
controlling interest in Bushveld Vametco Alloys (Pty) Ltd primary
vanadium mining and processing company; the Mokopane Vanadium
Project and the Brits Vanadium Project. The coal platform comprises
the wholly-owned Imaloto Coal Project, which is being developed as
one of Madagascar's leading independent power producers. The
Company's tin interests are held through its shareholding in AIM
listed AfriTin Mining Limited.
Bushveld's vision is to become a significant, low cost,
integrated primary vanadium producer through owned high grade
assets. This incorporates development and promotion of the role of
vanadium in the growing global energy storage market through
Bushveld Energy, the Company's energy storage solutions provider.
Whilst the demand for vanadium remains largely anchored in the
steel industry, Bushveld Minerals believes there is strong
potential for an imminent and significant global vanadium demand
surge from the fast-growing energy storage market, particularly
through the use and adoption of Vanadium Redox Flow Batteries.
The Company's approach to project development recognises that,
whilst attractive project economics are imperative, they are
insufficient to secure capital to bring them to account. A clear
path to production within a visible timeframe, low capital
expenditure requirements and scalability are important factors in
ensuring a positive return on investment. This philosophy is core
to the Company's strategy in developing projects.
Detailed information on the Company and progress to date can be
accessed on the website: www.bushveldminerals.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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