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Bushveld Minerals Limited  -  BMN   

Exercise of Convertible Bonds and TVR

Released 07:00 18-Jan-2018

RNS Number : 1978C
Bushveld Minerals Limited
18 January 2018
 

18 January 2018

Bushveld Minerals Limited

("Bushveld Minerals" or the "Company")

Exercise of Convertible Bonds and Total Voting Rights

Bushveld Minerals announces that it has received notice from Atlas Special Opportunities, LLC ("Atlas") to exercise £250,000 of convertible bonds into 3,078,817 ordinary shares of 1 pence each of the Company ("Ordinary Shares") at a conversion price of 8.12 pence each. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Application has been made for admission of these 3,078,817 new Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission and dealings in the Ordinary Shares will commence at 8.00 a.m. on 23 January 2018.

Following Admission, there will be a total of 878,988,722 Ordinary Shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 878,318,722 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.

Following the exercise, Atlas holds a total of £6,700,000 Convertible Bonds.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

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 / Richard Morrison




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 an AIM listed integrated vanadium producer with additional investments in coal, power and tin. 

The Company's flagship vanadium platform includes a 59.1% controlling interest in Bushveld Vametco Alloys (Pty) Ltd a primary vanadium mining and processing company; the Mokopane Vanadium Project and the Brits Vanadium Project. The coal platform comprises the wholly-owned Imaloto Coal Project, which is being developed as one of Madagascar's leading independent power producers. The Company's tin interests are held through its shareholding in AIM listed AfriTin Mining Limited.

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

The Company's 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 within a visible timeframe, low capital expenditure requirements and scalability are important factors in ensuring a positive return on investment. 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 Convertible Bonds and TVR - RNS