RE: OEM Offtake agreements with Belco next RNS5 May 2023 10:10
Bushveld shall have a one-time right to redeem 50% (in whole and not in part) of the New CLN in June 2026, subject to the right of Orion to elect for conversion of the same for a 30-day period
o Bushveld has the right to force conversion of the New CLN if the 60 Day VWAP of the Company's share price is in excess of 16p.
-- 10% of the CLN Balance (c. US$4.5 million) to be capitalised into a subscription for shares in Bushveld at 6p per share(2) , a 46% premium to the 30-day weighted average share price (as at 4 May 2023).