Director/PDMR Shareholding

RNS Number : 5388O

Bushveld Minerals Limited

10 February 2021

 

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.

10 February 2021

Bushveld Minerals Limited

("Bushveld Minerals" or the "Company")

PDMR dealing to satisfy tax obligations

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 ("Bushveld"), announces that, subsequent to the PDMR issue of shares previously announced on 1 February 2021, there was a disposal by the following PDMRs on 5 February 2021 in order to settle the tax obligations associated with the issue of these shares.

PDMR	Position	Vested Bonus shares	Number of shares sold
Fortune Mojapelo	Group Chief Executive Officer	440,373	206,951
Mikhail Nikomarov	Bushveld Energy Chief Executive Officer	119,390	56,107
Prince Nyati	Lemur Resources Chief Executive Officer	99,639	46,825
Kenneth Greve	Director - Corporate Development	156,414	73,446
Sihle Mdluli	Director - Strategy and Corporate Services	84,519	39,720
Lyndon Williams	Director - Sales and Marketing	122,481	57,560
Bertina Symonds	General Manager - Bushveld Vametco	115,625	54,338

PDMR Shareholdings

Following the settlement of the tax obligations associated with the issue of shares , the directors' shareholdings in the Company are as follows:

Director	Current Shareholding	Number of s hares sold	Resultant Shareholding	% of Enlarged Issued Share Capital
Fortune Mojapelo*	13,020,373	206,951	12,813,422	1,08
Mikhail Nikomarov	119,634	56,107	63,527	0,01
Prince Nyati	135,014	46,825	88,189	0,01
Kenneth Greve	156,414	73,446	82,968	0,01
Sihle Mdluli	84,519	39,720	44,799	0,00
Lyndon Williams	122,481	57,560	64,921	0,01
Bertina Symonds	115,625	54,338	61,287	0,01

* Fortune Mojapelo now holds 8,733,422 shares in Bushveld directly and has a beneficial interest in a further 8,160,000 shares held through VM Investment Company (Pty) Ltd, a company in which he has a 50 per cent interest .

PDMR Dealing

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.  Fortune Mojapelo 2. Mikhail Nikomarov 3. Prince Nyati 4. Kenneth Greve 5.  Sihle Mdluli 6. Lyndon Williams 7. Bertina Symonds
2	Reason for the notification
a)	Position/status	1.  Chief Executive Officer 2.  Bushveld Energy Chief Executive Officer 3.  Lemur Resources Chief Executive Officer 4.  Director - Corporate Development 5.  Director - Strategy and Corporate Services 6.  Director - Sales and Marketing 7.  General Manager - Bushveld Vametco
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer, or auction monitor
a)	Name	Bushveld Minerals Limited
b)	LEI	213800GX3IGYRET8ZE57
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of £0.01 each
b)	Identification code	ISIN: GG00B4TM3943
c)	Nature of the transaction	Sale of shares to fulfil tax obligations
d)	Price(s) and volume(s)	Price(s) Volume(s) 1. £0,19 206,951 2. £0,19   56,107 3. £0,19 46,825 4. £0,19   73,446 5. £0,19   39,720 6. £0,19   57,560 7. £0,19   54,338
e)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
f)	Date of the transaction	5 February 2021
g)	Place of the transaction	XLON

ENDS

Inquiries:  [e-mail]

Bushveld Minerals		[phone]
Fortune Mojapelo, Chief Executive Officer
Chika Edeh, Head of Investor Relations
SP Angel Corporate Finance LLP	Nominated Adviser & Broker	[phone]
Richard Morrison /  Charlie Bouverat
Abigail Wayne / Richard Parlons
Peel Hunt LLP	Joint Broker	[phone]
Ross Allister / Alexander Allen
BMO Capital Markets Limited	Joint Broker	[phone]
Tom Rider
Tavistock	Financial PR	[phone]
Charles Vivian / Gareth Tredway  Edward Lee

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 74 per cent controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a primary vanadium mining and processing company; 100 per cent of Bushveld Vanchem, a primary vanadium processing facility with a beneficiation plant; 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. 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. Bushveld Energy, the Company's energy storage solutions provider, plays a leading role in the development and promotion of the role of vanadium in this market.

The Company's approach to project development recognises that, whilst attractive project economics are imperative, they may be 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 .

 

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