Exercise of Warrants & Total Voting Rights-Amend

RNS Number : 5365G

Bushveld Minerals Limited

06 November 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.

The following amendment has been made to the "Exercise of Warrants and Total Voting Rights" announcement released on 6 November 2018 at 13:56 under RNS number 5184G.

Following the exercise of the warrants, the total number of warrants in issue was incorrectly stated as 3,887,703.  The actual number of warrants in issue is 3,598,684.

All other information remains unchanged. The correct version of the announcement is below:

6 November 2018

Bushveld Minerals Limited

("Bushveld Minerals" or "the Company")

Exercise of Warrants and Total Voting Rights

Bushveld Minerals Limited (AIM: BMN), the AIM listed, integrated vanadium producer, with ownership of high grade vanadium assets, announces that it has received an exercise notice for the exercise of warrants over 6,257,309 ordinary shares of 1 pence each ("Ordinary Shares") with an exercise price of 13.84 pence per Ordinary Share. Accordingly, 6,257,309 new Ordinary Shares will be issued. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Admission to AIM and Total Voting Rights

Application has been made for admission of these 6,257,309 new Ordinary Shares 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 12 November 2018.

Following Admission, there will be a total of 1,116,129,269 Ordinary Shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 1,115,459,269 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 of the warrants, the Company has a total of 3,598,684 warrants in issue.

Enquiries: [e-mail]

Bushveld Minerals		[phone]
Fortune Mojapelo, Chief Executive Officer
Chika Edeh, Head of Investor Relations
SP Angel Corporate Finance LLP	Nominated Adviser & Broker	[phone]
Ewan Leggat
Richard Morrison
Alternative Resource Capital	Joint Broker
Rob Collins		[phone]
Alex Wood		[phone]
Tavistock	Financial PR
Charles Vivian / Gareth Tredway		[phone]
Lifa Communications	Financial PR (South Africa)
Gabriella von Ille		[phone]

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a low cost, integrated, primary vanadium producer, with ownership of high grade vanadium assets.

The Company's flagship vanadium platform includes a 74 per cent controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a primary vanadium mining and processing company; the Mokopane Vanadium Project and the Brits Vanadium Project.

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.

While the Company's focus is on the vanadium operations and the development and promotion of VRFBs it has additional investments in coal, power and tin.

The coal platform comprises the wholly-owned Imaloto Power 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.

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.

 

END

 

 

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