Result of Meeting

Bushveld Minerals Limited

31 May 2024

 

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. 

31 May 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

General Meeting Results

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium producer, is pleased to announce that the resolution put to shareholders at the General Meeting held earlier today was duly passed. The Company additionally announces that it has agreed with Acacia Resources Limited that in exchange for them voting in favour of the resolution today, Bushveld has agreed to extend the payment date for their subscription to 31 December 2024. All other terms of the subscription remain the same.

No.	Ordinary Resolution	Votes
		In Favour	Against	Withheld
1	To proceed with the sale of Vanchem	989,959,661	52,500,899	1,323,588

The Vanchem Disposal remains conditional upon Orion consent to the SPR Arrangements and Competition Tribunal Approval, which is expected at the end July 2024/beginning of August 2024.

Craig Coltman, CEO of Bushveld Minerals Limited, commented:

"I would like to thank the shareholders for voting in favour of today's resolution. The sale of Vanchem will enable the Group to focus its management and financial capacity on Vametco, without incurring the additional working capital and capital expenditures demands at Vanchem which in the current market environment are unsustainable. The Company will now seek to complete outstanding conditions to enable it to drawdown on additional funding from SPR and to complete the Orion 2024 Financing Package as detailed in the Company's circular."

Defined terms used in this announcement carry the same meanings as those ascribed to them in the Company's circular. 

Enquiries: [e-mail]

Bushveld Minerals Limited		[phone]
Craig Coltman, Chief Executive Officer
SP Angel Corporate Finance LLP	Nominated Adviser & Joint Broker	[phone]
Richard Morrison / Charlie Bouverat
Grant Barker / Richard Parlons
Hannam & Partners	Joint Broker	[phone]
Andrew Chubb / Matt Hasson / Jay Ashfield
Tavistock	Financial PR	[phone]
Gareth Tredway / Tara Vivian-Neal / James Whitaker

ENDS

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a 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.

Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com

 

END