Bushveld Minerals Limited Issue of Equity and Total Voting Rights (2974B)
February 10 2022 - 4:24AM
UK Regulatory
TIDMBMN
RNS Number : 2974B
Bushveld Minerals Limited
10 February 2022
Market Abuse Regulation ("MAR") Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
10 February 2022
Bushveld Minerals Limited
("Bushveld Minerals" "Bushveld" or the "Company")
Issue of Equity and Total Voting Rights
Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated
primary vanadium producer and energy storage solutions provider
with ownership of high-grade assets in South Africa, confirms that
in partial satisfaction of awards, which were granted under the
2020 Short-term Incentives ("STI") scheme, the Company is issuing a
total of 1,510,320 new ordinary shares of 1 pence each in the
Company ("Ordinary Shares") representing 50% of the Bonus Awards,
which vested 12 months after the 2020 award period, along with
Ordinary Shares that were awarded as a result of two thirds of the
cash component of the 2020 STI being settled in equity. The
Ordinary Shares are being issued to senior employees who are not
deemed persons discharging managerial responsibilities ("PDMRs").
This includes Lyndon Williams who is no longer deemed a PDMR.
The Company confirms that a further announcement will be made
once Ordinary Shares are issued to PDMRs in respect of awards
granted under the 2020 STI scheme (as announced on 6 August 2021)
once all vesting conditions have been met.
Admission to AIM and Total Voting Rights
Application will be made for admission of the combined 1,510,320
new Ordinary Shares to trading on AIM ("Admission"). It is expected
that Admission will take place on or around 15 February 2022.
Following Admission, there will be a total of 1,261,969,177
Ordinary Shares in issue, 670,000 of which are held in treasury.
Shareholders should use the figure of 1,261,299,177 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 voting rights of the Company, under the FCA's
Disclosure and Transparency Rules.
ENDS
Enquiries: info@bushveldminerals.com
Bushveld Minerals Limited +27 (0) 11 268 6555
Fortune Mojapelo, Chief Executive
Officer
Andrew Mari, Head of Investor
Relations
SP Angel Corporate Finance
LLP Nominated Adviser & Broker +44 (0) 20 3470 0470
Richard Morrison / Charlie
Bouverat
Grant Baker / Richard Parlons
Tavistock Financial PR
Gareth Tredway / Annabel
de Morgan / Tara Vivian-Neal +44 (0) 207 920 3150
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a low-cost, vertically integrated primary
vanadium producer. It is one of only three operating primary
vanadium producers, owning 2 of the world's 4 operating primary
vanadium processing facilities. In 2020, the Company produced more
than 3,600 mtV, representing approximately three per cent of the
global vanadium market. With a diversified vanadium product
portfolio serving the needs of the steel, energy and chemical
sectors, the Company participates in the entire vanadium value
chain through its two main pillars: Bushveld Vanadium, which mines
and processes vanadium ore; and Bushveld Energy, an energy storage
solutions provider. Bushveld Vanadium is targeting to materially
grow its vanadium production and achieve an annualised steady state
production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a by
the end of 2022, from projects currently being implemented. Beyond
that, pre-feasibility studies are in progress to determine the
optimal path to increase production even further to a steady state
production run rate of between 6,400 mtVp.a. and 6,800 mtVp.a. in
the medium-term and to a steady state production run rate of 8,400
mtVp.a in the long term.
Bushveld Energy is focused on developing and promoting the role
of vanadium in the growing global energy storage market through the
advancement of vanadium-based energy storage systems, specifically
Vanadium Redox Flow Batteries ("VRFBs").
Detailed information on the Company and progress to date can be
accessed on the website www.bushveldminerals.com
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END
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