Bushveld Minerals Limited Exercise of Convertible Bonds and TVR (3189F)
20 February 2018 - 4:13AM
UK Regulatory
TIDMBMN
RNS Number : 3189F
Bushveld Minerals Limited
19 February 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.
19 February 2018
Bushveld Minerals Limited
("Bushveld Minerals" or the "Company")
Exercise of Convertible Bonds and Total Voting Rights
Bushveld Minerals announces that it has received notice from
Atlas Special Opportunities, LLC ("Atlas") to exercise GBP1,000,000
of convertible bonds into 11,990,407 ordinary shares of 1 pence
each of the Company ("Ordinary Shares") at a conversion price of
8.34 pence each. The new Ordinary Shares will rank pari passu with
the Company's existing Ordinary Shares.
Application has been made for admission of these 11,990,407 new
Ordinary Shares to trading on AIM ("Admission") and it is expected
that Admission and dealings in the Ordinary Shares will commence at
8.00 a.m. on 23 February 2018.
Following Admission, there will be a total of 899,775,456
Ordinary Shares in issue, 670,000 of which are held in treasury.
Shareholders should use the figure of 899,105,456 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, Atlas holds a total of GBP5,000,000
Convertible Bonds.
Enquiries: info@bushveldminerals.com
Bushveld Minerals +27 (0) 11 268 6555
Fortune Mojapelo, Chief
Executive Officer
SP Angel Corporate Finance
LLP +44 (0) 20 3470 0470
Nominated Adviser & Broker
Ewan Leggat / Richard
Morrison
Blytheweigh
Financial PR
Tim Blythe / Nick Elwes +44 (0) 20 7138 3204
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
END
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