Bushveld Minerals Limited PDMR Dealing to Satisfy Tax Obligations (3708J)
August 20 2021 - 10:24AM
UK Regulatory
TIDMBMN
RNS Number : 3708J
Bushveld Minerals Limited
20 August 2021
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.
20 August 2021
Bushveld Minerals Limited
("Bushveld Minerals" or the "Company")
PDMR Dealing to satisfy tax obligations
Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated
primary vanadium producer and energy storage solutions provider,
with ownership of high-grade assets in South Africa ("Bushveld"),
announces that, subsequent to the PDMR issue of shares previously
announced on 6 August 2021, there was a disposal by the following
PDMRs on 20 August 2021 in order to, in part, settle the tax
obligations associated with the issue of these shares.
PDMR Position Nature Number of Price per
of transaction shares sold share (GBP)
Disposal
of Ordinary
Shares
Bushveld Energy of GBP0.01("Ordinary
Chief Executive Shares")
Mikhail Nikomarov Officer each 59,813 0,12
------------------ ----------------------- ------------- -------------
Disposal
of Ordinary
Shares
of GBP0.01("Ordinary
Director - Sales Shares")
Lyndon Williams and Marketing each 122,480 0,12
------------------ ----------------------- ------------- -------------
PDMR Shareholdings
Following the settlement of the tax obligations associated with
the issue of shares , the directors' shareholdings in the Company
are as follows:
Director Current Shareholding Number of s Resultant % of Enlarged
hares sold Shareholding Issued Share
Capital
Mikhail Nikomarov 1 82,916 59,813 123,103 0,01
---------------------- ------------ -------------- --------------
Lyndon Williams 122,480 122,480 0 0
---------------------- ------------ -------------- --------------
PDMR Dealing
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the director's share dealing.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Mikhail Nikomarov
2. Lyndon Williams
------------------------------ ------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status 1. Bushveld Energy Chief Executive
Officer
2. Director - Sales and Marketing
------------------------------ ------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------ ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer, or auction monitor
--------------------------------------------------------------------------
a) Name Bushveld Minerals Limited
------------------------------ ------------------------------------------
b) LEI 213800GX3IGYRET8ZE57
------------------------------ ------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of GBP0.01 each
instrument, type of
instrument
------------------------------ ------------------------------------------
b) Identification code ISIN: GG00B4TM3943
------------------------------ ------------------------------------------
c) Nature of the transaction Sale of shares to fulfil tax obligations
------------------------------ ------------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
1. GBP0,12 59,576
---------- -----------
2. GBP0,12 122,480
---------- -----------
------------------------------ ------------------------------------------
e) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
------------------------------ ------------------------------------------
f) Date of the transaction 20 August 2021
------------------------------ ------------------------------------------
ENDS
Enquiries: info@bushveldminerals.com
Bushveld Minerals Limited +27 (0) 11 268 6555
Fortune Mojapelo, Chief Executive
Officer
Chika Edeh, Head of Investor
Relations
SP Angel Corporate Finance
LLP Nominated Adviser & Broker +44 (0) 20 3470 0470
Richard Morrison / Charlie
Bouverat
Grant Baker / Richard Parlons
Peel Hunt Limited Joint Broker +44 (0) 20 7418 8900
Ross Allister / Alexander
Allen
Tavistock Financial PR
Gareth Tredway / Tara Vivian-Neal +44 (0) 207 920 3150
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a low-cost, vertically integrated primary
vanadium producer. It is one of only three operating primary
vanadium producers, owning 2 of the world's 4 operating primary
vanadium processing facilities. In 2020, the Company produced more
than 3,600 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, the Company participates in the entire vanadium value
chain through its two main pillars: Bushveld Vanadium, which mines
and processes vanadium ore; and Bushveld Energy, an energy storage
solutions provider. Bushveld Vanadium is targeting to materially
grow its vanadium production and achieve an annualised steady state
production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a by
the end of 2022, from projects currently being implemented. Beyond
that, pre-feasibility studies are in progress to determine the
optimal path to increase production even further to a steady state
production run rate of between 6,400 mtVp.a. and 6,800 mtVp.a. in
the medium-term and to a steady state production run rate of 8,400
mtVp.a in the long term.
Bushveld Energy is focused on developing and promoting the role
of vanadium in the growing global energy storage market through the
advancement of vanadium-based energy storage systems, specifically
Vanadium Redox Flow Batteries ("VRFBs").
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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