Resignation of Finance Director

Bushveld Minerals Limited

16 November 2023

 

Market Abuse Regulation ("MAR") Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. 

16 November 2023

Bushveld Minerals Limited

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

Resignation of Finance Director

The Board of Bushveld Minerals announces that Ms Tanya Chikanza, Finance Director and Board Member, has today tendered her resignation in accordance with the provisions of her employment contract, which requires that she provide the Company with 6 months' notice.

The Board further announces that the Company is investigating Ms Chikanza regarding alleged misconduct relating to failure to disclose a material conflict of interest. Given Ms Chikanza's resignation, the Company has suspended her from her contractual appointment with immediate effect, pending the outcome of an independent disciplinary process that will now follow.

Ms Janandre Lamprecht will assume the role of Acting Chief Financial Officer and the Company will initiate a comprehensive search for a replacement Finance Director.

Ms Lamprecht is a Chartered Accountant who began her career at PricewaterhouseCoopers and has extensive experience in the mining industry having worked for listed international mining houses in multiple jurisdictions. Ms Lamprecht has been with the Company since August 2022 and previously led the Group's financial accounting, reporting and tax functions. 

The Board remains confident in the existing management team's ability to maintain the Company's positive trajectory and does not believe that the departure of the Finance Director will impact the Company's financial or operational activities and performance.

ENDS

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 vertically integrated primary vanadium producer, it is one of only three operating primary vanadium producers. 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