Bushveld Minerals Limited Exercise of Warrants and Total Voting Rights (7704W)
November 17 2017 - 1:00AM
UK Regulatory
TIDMBMN
RNS Number : 7704W
Bushveld Minerals Limited
17 November 2017
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.
17 November 2017
Bushveld Minerals Limited
("Bushveld" or the "Company")
Exercise of Warrants and Total Voting Rights
Bushveld Minerals Limited (AIM: BMN), a mineral project
development company with a portfolio of vanadium, tin and coal
assets in Southern Africa, announces that it has received notice
for the exercise of warrants over 652,000 ordinary shares of 1
pence each at a price of 4.5 pence per share and 434,000 ordinary
shares of 1 pence each at a price of 6.8 pence per share.
Accordingly, 1,086,000 new ordinary shares have been issued. A
subscription price of GBP58,852 is due to be paid to the
Company.
Admission to AIM and Total Voting Rights
Application will be made for admission of these 1,086,000 new
ordinary shares, to be issued and allotted as a result of the
warrant exercises set out above, 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 22 November 2017. The issued
new ordinary shares will rank pari passu in all respects with the
existing ordinary shares.
Following Admission, there will be a total of 808,612,897
ordinary shares in issue, 670,000 of which are held in treasury.
Shareholders should use the figure of 807,942,897 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.
As a result of the demerger of Greenhills Resources Limited, on
8 November 2017, in accordance with the terms of the respective
warrant instruments, the number of warrants in issue increased from
29,815,657 to 30,187,365. As a result of this exercise of warrants,
the Company now has a total of 29,101,365 warrants in issue.
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
Blytheweigh
Financial PR
Tim Blythe / Nick Elwes +44 (0) 207 138 3204
Gabriella von Ille +27 (0) 711 121 907
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a diversified AIM listed mineral
development company with a portfolio of vanadium, iron ore, tin and
coal greenfield assets in Southern Africa and Madagascar. The
Company's flagship platform, the vanadium platform, includes the
Mokopane Vanadium Project, the Brits Vanadium Project, and the
Bushveld Iron Ore & Titanium Project. The tin platform
comprises the Mokopane Tin Project and the Imaloto Coal Project,
which is being developed as one of Madagascar's leading independent
power producers, makes up the Company's coal platform.
The Company's vision is to become the largest, low-cost,
integrated, primary vanadium producer through owned low-cost
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 a slow growing steel industry, Bushveld Minerals believes there
is strong potential for an imminent, significant, global vanadium
demand surge from the fast-growing energy storage market,
particularly through the use and adoption of Vanadium Redox Flow
Batteries.
Bushveld Minerals' 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 with a visible timeframe, low capex requirements
and scalability are important factors in retaining an attractive
exit option. 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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