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Bushveld Minerals Limited  -  BMN   

Exercise of Warrants and Total Voting Rights

Released 07:00 17-Nov-2017

RNS Number : 7704W
Bushveld Minerals Limited
17 November 2017
 

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.

 

 

17 November 2017

Bushveld Minerals Limited

("Bushveld" or the "Company")

Exercise of Warrants and Total Voting Rights

Bushveld Minerals Limited (AIM: BMN), a mineral project development company with a portfolio of vanadium, tin and coal assets in Southern Africa, announces that it has received notice for the exercise of warrants over 652,000 ordinary shares of 1 pence each at a price of 4.5 pence per share and 434,000 ordinary shares of 1 pence each at a price of 6.8 pence per share. Accordingly, 1,086,000 new ordinary shares have been issued.  A subscription price of £58,852 is due to be paid to the Company.

Admission to AIM and Total Voting Rights

Application will be made for admission of these 1,086,000 new ordinary shares, to be issued and allotted as a result of the warrant exercises set out above, 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 22 November 2017.  The issued new ordinary shares will rank pari passu in all respects with the existing ordinary shares.

Following Admission, there will be a total of 808,612,897 ordinary shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 807,942,897 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.

As a result of the demerger of Greenhills Resources Limited, on 8 November 2017, in accordance with the terms of the respective warrant instruments, the number of warrants in issue increased from 29,815,657 to 30,187,365.  As a result of this exercise of warrants, the Company now has a total of 29,101,365 warrants in issue.

Enquiries: info@bushveldminerals.com

Bushveld Minerals

+27 (0) 11 268 6555

Fortune Mojapelo, Chief Executive Officer




SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Nominated Adviser & Broker


Ewan Leggat




Blytheweigh


Financial PR


Tim Blythe / Nick Elwes

+44 (0) 207 138 3204



Gabriella von Ille

+27 (0) 711 121 907

 



 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a diversified AIM listed mineral development company with a portfolio of vanadium, iron ore, tin and coal greenfield assets in Southern Africa and Madagascar.  The Company's flagship platform, the vanadium platform, includes the Mokopane Vanadium Project, the Brits Vanadium Project, and the Bushveld Iron Ore & Titanium Project. The tin platform comprises the Mokopane Tin Project and the Imaloto Coal Project, which is being developed as one of Madagascar's leading independent power producers, makes up the Company's coal platform.

The Company's vision is to become the largest, low-cost, integrated, primary vanadium producer through owned low-cost 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 a slow growing steel industry, Bushveld Minerals believes there is strong potential for an imminent, significant, global vanadium demand surge from the fast-growing energy storage market, particularly through the use and adoption of Vanadium Redox Flow Batteries.

Bushveld Minerals' 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 with a visible timeframe, low capex requirements and scalability are important factors in retaining an attractive exit option. 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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Exercise of Warrants and Total Voting Rights - RNS