Share Issuances

RNS Number : 0321G

Bushveld Minerals Limited

27 February 2015

 



27 February 2015

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Share Issuances

Bushveld Minerals Limited (AIM: BMN), a diversified mineral development company with projects in Africa, announces that 6,666,667 new ordinary shares of one penny each in the Company ("Issue") ("Ordinary Shares") were issued on 26 February 2015 at a price of 2.30 pence each as follows:

·      In lieu of bonuses earned by directors of the Company from March 2012 to February 2014, the issue of 4,166,667 Ordinary Shares, as follows:

	Ordinary Shares Issued
Fortune Mojapelo	1,000,000
Anthony Viljoen	1,666,667
Geoffrey Sproule	1,500,000

These Ordinary Shares are issued subject to the restriction that they may not be tendered for sale prior to 01 March 2016.

·      In lieu of advisory services provided to the Company, the issue of 2,500,000 Ordinary Shares including 1,250,000 Ordinary Shares to Jeremy Friedlander, Non-Executive Director of the Company.

The resultant holding of these Directors following the issue is as follows:

	Number of Shares held in the Company	Percentage held of enlarged share capital of the Company
Fortune Mojapelo	9,660,000	1.99%
Anthony Viljoen	9,826,667	2.02%
Geoffrey Sproule	1,500,000	0.31%
Jeremy Friedlander	1,250,000	0.26%

Application will be made for admission of the new ordinary shares to trading on AIM ("Admission")  as soon as practicable.

The total issued share capital of the Company with voting rights following the Issue will be 486,337,438 Ordinary Shares.

Enquiries: [e-mail]

Bushveld Minerals Fortune Mojapelo	[phone]
Strand Hanson Andrew Emmott	[phone]
Brandon Hill Capital Jonathan Evans	[phone]
Tavistock Jos Simson/ Nuala Gallagher	[phone]
Tielle Communications Stéphanie Leclercq	[phone]

- ENDS -

Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of vanadium-and titanium bearing iron ore and tin assets in Southern Africa. The Company owns the Bushveld Vanadium Project, P-Q Iron Ore and Titanium Project and Mokopane Tin Project, all located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling interest in Lemur Resources (ASX: LMR) that owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM Market of the London Stock Exchange in March 2012.

 

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