Ironveld PLC Result of General Meeting (6124K)
10 July 2017 - 10:29PM
UK Regulatory
TIDMIRON
RNS Number : 6124K
Ironveld PLC
10 July 2017
10 July 2017
Ironveld Plc
("Ironveld" or the "Company")
Result of General Meeting
Ironveld plc, the owner of a High Purity Iron ("HPI"), Vanadium
and Titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province, South Africa is pleased to announce
that all resolutions put to shareholders at the GM held earlier
today were duly passed.
As a result, the Company will proceed to issue 35,000,000
ordinary shares of 1 pence each in the capital of the Company
("Ordinary Shares") at a price of 2.0 pence per share, pursuant to
the placing announced on 21 June 2016.
Settlement and dealings
Application has been made to the AIM market of the London Stock
Exchange ("AIM") for a total of 35,000,000 Ordinary Shares, which
rank pari passu with the Company's existing issued Ordinary Shares,
to be admitted to trading on AIM. Dealings on AIM are expected to
commence at 8:00 a.m. on 11 July 2017 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission the
issued ordinary share capital of Ironveld will consist of
479,641,278 Ordinary Shares with voting rights attached. The
Company does not hold any shares in treasury. This figure of
479,641,278 may be used by the Company's shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules ("DTRs").
Ends
Ironveld plc c/o Camarco
Peter Cox, Chief Executive 020 3757 4980
Shore Capital
Stephane Auton / Toby Gibbs (corporate
finance)
Jerry Keen (corporate broking) 020 7408 4090
Camarco
Gordon Poole / Billy Clegg / Kimberley
Taylor 020 3757 4980
Notes to Editors:
Ironveld (IRON.LN) is the owner of a High Purity Iron, Vanadium
and Titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province South Africa. Ironveld expects to mine
its own VTM ore as feedstock for a 15MW DC smelter which will
produce speciality iron products including high purity iron powder
as well as vanadium and titanium slag products.
The Definitive Feasibility Study published in April 2014
confirms the project's viability to deliver an exceptionally high
grade iron product (99.5% Fe) called High Purity Iron which
commands a premium in the market place. High Purity Iron Powder is
widely used in powder metallurgy, in magnetic materials and in
manufacturing of welding rods. Vanadium and Titanium slag
containing commercial grades of vanadium and titanium will also be
produced and sold. Vanadium has historically been used as
ferrovanadium or as a steel additive adding a considerable increase
of strength to steel. However it is the development of vanadium
redox flow battery systems for grid energy storage applications
that has the most potential to have a significant impact on future
vanadium demand. Titanium Slag is an upgraded white pigment that is
used in the manufacture of paint, paper and plastics.
Ironveld's Board includes; Giles Clarke as Chairman, Peter Cox
as CEO, Vred von Ketelhodt as CFO, Nick Harrison and Rupert Fraser
as a Non-Executive Directors.
Ironveld is an AIM traded company. For further information on
Ironveld please refer to www.ironveld.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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