Exercise of Warrants and Total Voting Rights

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: [e-mail]

Bushveld Minerals Limited	[phone]
Fortune Mojapelo, Chief Executive Officer
Chika Edeh, Head of Investor Relations
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser & Broker
Ewan Leggat
Richard Morrison
Alternative Resource Capital
Joint Broker
Alex Wood	[phone]
Rob Collins	[phone]
Tavistock
Financial PR
Charles Vivian	[phone]
Gareth Tredway
Lifa Communications
Financial PR
Gabriella von Ille	[phone]

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.

 

END

 

 

MSCLLFERTSIVLIT