Source - RNS
RNS Number : 0005K
Bushveld Minerals Limited
05 April 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.

 

5 April 2018

 

Bushveld Minerals Limited

("Bushveld" or "the Company")

 

Exercise of Warrants and Total Voting Rights

 

Bushveld Minerals, the AIM-listed integrated vanadium producer with additional investments in coal, power and tin, announces that it has received exercise notice for the exercise of warrants over 3,039,473 and 4,052,631 ordinary shares of 1 pence each ("Ordinary Shares") with an exercise price of 7.9 pence and 9.9 pence respectively per Ordinary Share. Accordingly, 7,092,104 new Ordinary Shares have been 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 7,092,104 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 11 April 2018.

 

Following Admission, there will be a total of 1,068,425,966 Ordinary Shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 1,067,755,966 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 26,743,696 warrants in issue.

 

 

Enquiries: [email protected]

 

Bushveld Minerals

+27 (0) 11 268 6555

Fortune Mojapelo




SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Nominated Adviser & Broker


Ewan Leggat / Richard Morrison




Alternative Resource Capital

+44 (0) 20 7186 9004

Joint Broker


Alex Wood




Blytheweigh


Financial PR


Tim Blythe / Camilla Horsfall

+44 (0) 20 7920 3150

Gabriella von Ille

+27 (0) 711 121 907

 

 

ABOUT BUSHVELD MINERALS LIMITED

 

Bushveld Minerals is an AIM listed integrated vanadium producer with additional investments in coal, power and tin

The Company's flagship vanadium platform includes a 59.1% controlling interest in Bushveld Vametco Alloys (Pty) Ltd a 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
 
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