TIDMBMN
RNS Number : 9660X
Bushveld Minerals Limited
27 December 2023
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.
27 December 2023
Bushveld Minerals Limited
("Bushveld" or the "Company")
General Meeting Results
Bushveld Minerals Limited (AIM: BMN), the integrated primary
vanadium producer, is pleased to announce that all ordinary and
special resolutions put to shareholders at the General Meeting held
earlier today were duly passed.
No. Ordinary Resolution Votes
In Favour Against Withheld
------------ ----------- ----------
To grant the Directors the
authority to issue the New
Shares, the BEE Consortium
Pre-emption Shares and the
SPR Option Shares and the maximum
number of Orion Conversion
Shares that may be issuable
on an Orion Conversion in accordance
with Article 8.3 of the Articles
1 ("Resolution 1" of the circular) 779,492,174 11,854,933 927,811
--------------------------------------- ------------ ----------- ----------
To provide the flexibility
to the Directors to issue shares
from time to time and grant
the authority until the next
annual general meeting (unless
such authority is revoked or
renewed prior to such time)
by authorising the Directors
in accordance with Article
8.3 of the Articles to issue
relevant securities up to an
aggregate nominal amount equal
to approximately one third
of the Enlarged Share Capital
2 ("Resolution 3" of the circular). 775,167,570 16,178,973 928,375
--------------------------------------- ------------ ----------- ----------
Special Resolution
--------------------------------------- ------------ ----------- ----------
To grant the Directors the
authority to issue the New
Shares, the BEE Consortium
Pre-emption Shares and the
SPR Option Shares and the maximum
number of Orion Conversion
Shares that may be issuable
on an Orion Conversion as if
the pre-emption rights contained
in Article 9.2 of the Articles
did not apply to such issue
3 ("Resolution 2" of the circular). 777,189,029 13,283,193 1,802,696
--------------------------------------- ------------ ----------- ----------
To disapply the pre-emption
rights contained in Article
9.9 of the Articles in respect
of the issuance of equity securities
for cash pursuant to rights
issues and other pre-emptive
issues, and in respect of other
issues of equity securities
for cash up to an aggregate
nominal value which equates
to approximately 10 per cent
of the Enlarged Share Capital
4 ("Resolution 4" of the circular). 777,440,625 13,253,943 1,580,350
--------------------------------------- ------------ ----------- ----------
Admission, Settlement and Total Voting Rights
An application has been made to the London Stock Exchange for
the 395,897,277 Fundraise Shares and 124,267,747 Orion Shares to be
admitted to trading on AIM. It is expected that Admission will
become effective and dealings in the Fundraise Shares and Orion
Shares to be issued pursuant to the Fundraise will commence on or
around 28 December 2023.
Following Admission, there will be a total of 2,311,213,138
Ordinary Shares in issue, 670,000 of which are held in treasury.
Shareholders should use the figure of 2,310,543,138 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.
The new Ordinary Shares to be issued pursuant to the PrimaryBid
Offer will be issued free of all liens, charges and encumbrances
and will, on Admission, rank pari passu in all respects with the
new Ordinary Shares to be issued pursuant to the Placing, the
Subscription and the Company's existing Ordinary Shares.
Furthermore, as announced on 5 December 2023, Acacia Resources
Limited subscribed for 92,592,592 new ordinary shares of 1 pence
each in the Company, which will be settled on or before 28 February
2024. A separate AIM application and announcement will be made
regarding the admission of these shares to trading on AIM.
Craig Coltman, CEO of Bushveld Minerals Limited, commented:
"I would like to thank the shareholders for voting in favour of
all the resolutions. Your support is of utmost importance as the
equity raise which will provide the necessary resources for the
Company to meet its financial obligations, increase production and
ensure stability."
Enquiries : info@Bushveldminerals.com
Bushveld Minerals Limited +27 (0) 11 268 6555
Craig Coltman, Chief Executive
Officer
Chika Edeh, Head of Investor
Relations
Nominated Adviser,
SP Angel Corporate Finance Joint Broker & Joint +44 (0) 20 3470
LLP Bookrunner 0470
Richard Morrison / Charlie
Bouverat
Grant Barker / Richard Parlons
Joint Broker & Joint +44 (0) 20 7907
Hannam & Partners Bookrunner 8500
Andrew Chubb / Matt Hasson
/ Jay Ashfield
+44 (0) 207 920
Tavistock Financial PR 3150
Gareth Tredway / Tara Vivian-Neal
/ James Whitaker
ENDS
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a vertically integrated primary vanadium
producer, it is one of only three operating primary vanadium
producers. In 2022, the Company produced more than 3,800 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.
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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