Result of AGM

Bushveld Minerals Limited

02 August 2023

 

2 August 2023

Bushveld Minerals Limited

("Bushveld Minerals", "Bushveld" or the "Company")

Annual General Meeting Results

Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer and energy storage provider, with ownership of high-grade assets in South Africa, announces that all ordinary resolutions put to shareholders at the Annual General Meeting held earlier today were duly passed.

No.	ORDINARY RESOLUTIONS	VOTES
		IN FAVOUR	AGAINST	WITHHELD
1	To receive and adopt the Annual Financial Statements of the Company and the Directors report and the report of the Auditors for the financial year ended 31 December 2022.	98 533 384	90 204	1 397 262
2	To approve the Directors' fees as reflected in the Remuneration Report and in note 35 of the Annual Financial Statements.	94 251 126	4 821 496	948 228
3	That Messrs RSM UK Audit LLP be reappointed as Auditors to the Company.	98 407 596	565 752	1 047 502
4	That the Directors be authorised to approve the remuneration of the Company's Auditors.	98 188 877	785 554	1 046 419
5	That Michael Kirkwood shall be re-elected as a Director, having retired by rotation and offered himself for re-election.	93 991 307	4 407 531	1 622 012
6	That Kevin Alcock shall be re-elected as a Director, having retired by rotation and offered himself for re-election.	96 996 430	1 402 408	1 622 012
7	That Craig Coltman shall be re-elected as a Director in accordance with Article 140 of the Articles, having been appointed by the Directors in July 2023.	97 963 133	1 036 196	1 021 521
8	The Company be generally and unconditionally authorised for the purposes of Articles 50.3 of the Articles to make on market acquisitions (as defined in Article 50.5 of the Articles) of ordinary shares on such terms and in such manner as the Directors determine provided that: (i) the maximum aggregate number of ordinary shares which may be purchased is 128,781,828 ordinary shares; (ii) the minimum price (excluding expenses) which may be paid for each ordinary share is £0.01; (iii) the maximum price (excluding expenses) which may be paid for any ordinary share does not exceed 105 percent of the average closing price of such shares for the five business days of AIM prior to the date of purchase; and (iv) this authority shall expire at the conclusion of the next Annual General Meeting of the Company unless such authority is renewed prior to that time (except in relation the purchase of Ordinary Shares the contract for which was concluded before the expiry of such authority, in which case such purchase may be concluded wholly or partly after such expiry).	97 900 593	733 945	1 386 312
9	The Directors of the Company be and are hereby authorised to exercise all powers of the Company to issue, grant rights to subscribe for, or to convert any securities into, up to 429,272,760 shares (together "Equity Securities") in the capital of the Company being approximately one- third of the issued share capital of the Company (excluding treasury shares) in accordance with Article 8.3 of the Articles of Incorporation of the Company such authority to expire, unless previously renewed, revoked or varied by the Company by ordinary resolution, at the end of the next Annual General Meeting of the Company or, if earlier, at the close of business on the date falling 15 months from the date of the passing of this Resolution, but in each case, during this period the Company may make offers, and enter into agreements, which would, or might, require Equity Securities to be issued or granted after the authority given to the Directors of the Company pursuant to this Resolution ends and the Directors of the Company may issue or grant Equity Securities under any such offer or agreement as if the authority given to the Directors of the Company pursuant to this Resolution had not ended. This Resolution is in substitution for all unexercised authorities previously granted to the Directors of the Company to issue or grant Equity Securities; and	92 717 716	5 870 756	1 387 378
	SPECIAL RESOLUTIONS
10	If Resolution 9 is passed, the Directors of the Company be and they are hereby authorised to exercise all powers of the Company to issue or grant Equity Securities in the capital of the Company pursuant to the issue or grant referred to in Resolution 9 as if the pre-emption rights contained in Article 9.9 of the Articles of Incorporation of the Company did not apply to such issue or grant provided that: (A) the maximum aggregate number of Equity Securities that may be issued or granted under this authority is 128,781,828 shares, being approximately 10.0 percent of the issued share capital of the Company (excluding treasury shares); and (B) the authority hereby conferred, unless previously renewed, revoked or varied by the Company by special resolution, shall expire at the end of the next Annual General Meeting of the Company or, if earlier, at the close of business on the date falling 15 months from the date of the passing of this Resolution, save that the Company may before such expiry make an offer or agreement which would or might require Equity Securities to be issued or granted after such expiry and the Directors may issue or grant Equity Securities in pursuance of such an offer or agreement as if the authority conferred by the above resolution had not expired. This Resolution is in substitution for all unexercised authorities previously granted to the Directors of the Company to issue or grant Equity Securities in the capital of the Company as if the pre-emption rights contained in Article 9.9 of the Articles of Incorporation of the Company did not apply to such issue or grant.	92 428 510	5 893 134	1 699 206

Enquiries: [e-mail]

Bushveld Minerals Limited		[phone]
Craig Coltman, Chief Executive Officer
Chika Edeh, Head of Investor Relations
SP Angel Corporate Finance LLP	Nominated Adviser & Broker	[phone]
Richard Morrison / Charlie Bouverat
Grant Baker / Richard Parlons
RBC Capital Markets	Joint Broker	[phone]
Jamil Miah / Sahil Suleman
Tavistock	Financial PR
Gareth Tredway / Tara Vivian-Neal/ James Whitaker		[phone]

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 2022, the Company produced more than 3,800 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 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

 

END