Bushveld Minerals Limited Exercise of Warrants and Total Voting Rights (6705X)
August 13 2018 - 12:59PM
UK Regulatory
TIDMBMN
RNS Number : 6705X
Bushveld Minerals Limited
13 August 2018
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.
13 August 2018
Bushveld Minerals Limited
("Bushveld Minerals" or "the Company")
Exercise of Warrants and Total Voting Rights
Bushveld Minerals, the AIM listed, integrated vanadium producer,
with ownership of high grade vanadium assets, announces that it has
received an exercise notice for the exercise of warrants over
5,000,000 ordinary shares of 1 pence each ("Ordinary Shares") with
an exercise price of 13.84 pence per Ordinary Share. Accordingly,
5,000,000 new Ordinary Shares will be issued. The new Ordinary
Shares will rank pari passu with the Company's existing Ordinary
Shares.
Admission to AIM and Total Voting Rights
Application has been made for admission of these 5,000,000 new
Ordinary Shares to trading on AIM ("Admission") and it is expected
that Admission will take place and that trading will commence on
AIM at 8.00 a.m. on 17 August 2018.
Following Admission, there will be a total of 1,109,871,960
Ordinary Shares in issue, 670,000 of which are held in treasury.
Shareholders should use the figure of 1,109,201,960 as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in the Company, under the FCA's Disclosure and
Transparency Rules.
Following the exercise of the warrants, the Company has a total
of 10,145,012 warrants in issue.
Enquiries: info@bushveldminerals.com
Bushveld Minerals Limited +27 (0) 11 268 6555
Fortune Mojapelo, Chief Executive
Officer
Chika Edeh, Head of Investor
Relations
SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
Nominated Adviser & Broker
Ewan Leggat
Richard Morrison
Alternative Resource Capital
Joint Broker
Alex Wood +44 (0) 20 7186 9004
Rob Collins +44 (0) 20 7186 9001
Tavistock
Financial PR
Charles Vivian +44 (0) 20 7920 3150
Gareth Tredway
Lifa Communications
Financial PR
Gabriella von Ille +27 (0) 711 121 907
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a low cost, integrated, primary vanadium
producer, with ownership of high grade vanadium assets.
The Company's flagship vanadium platform includes a 59.1 per
cent controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a
primary vanadium mining and processing company; the Mokopane
Vanadium Project and the Brits Vanadium Project.
Bushveld's vision is to become a significant, low cost,
integrated primary vanadium producer through owning 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.
While the Company's focus is on the vanadium operations and the
development and promotion of VRFBs it has additional investments in
coal, power and tin.
The coal platform comprises the wholly-owned Imaloto Power
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.
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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