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18 Feb 2021 18:04
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.
18 February 2021
Bushveld Minerals Limited
("Bushveld Minerals" or the "Company")
PDMR Dealing
Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer and energy storage solutions provider, with ownership of high-grade assets in South Africa ("Bushveld"), announces, the disposal of shares by certain persons discharging managerial responsibilities ("PDMR") in the Company as follows:
Name | Role | Nature of transaction | Number of shares | Price per share (£) |
Ian Watson | Independent Non-Executive Chairman | Disposal of Ordinary Shares of £0.01 ("Ordinary Shares") each | 1,100,000 | 0.1693 |
The sale has been undertaken to settle tax liabilities associated with the issue of Ordinary Shares to Mr Watson as announced on 8 August 2018. Following the sale of Ordinary Shares as noted above Ian Watson now holds 2,455,000 Ordinary Shares in the Company respresenting 0.2% of the issued share capital of the Company.
PDMR Dealing
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Ian Watson | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Independent Non-Executive Chairman | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer, or auction monitor | |||||||
a) | Name | Bushveld Minerals Limited | ||||||
b) | LEI | 213800GX3IGYRET8ZE57 | ||||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a)
| Description of the financial instrument, type of instrument
| Ordinary Shares of £0.01 each
| ||||||
b) | Identification code | ISIN: GG00B4TM3943 | ||||||
c) | Nature of the transaction | Sale of shares | ||||||
d) | Price(s) and volume(s) |
| ||||||
e) | Aggregated information - Aggregated volume - Price | N/A (Single transaction) | ||||||
f) | Date of the transaction | 17 February 2021 | ||||||
g) | Place of the transaction | XLON | ||||||
ENDS
Inquiries: info@bushveldminerals.com
Bushveld Minerals |
| +27 (0) 11 268 6555 |
Fortune Mojapelo, Chief Executive Officer |
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Chika Edeh, Head of Investor Relations |
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SP Angel Corporate Finance LLP | Nominated Adviser & Broker | +44 (0) 20 3470 0470 |
Richard Morrison / Charlie Bouverat |
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Abigail Wayne / Richard Parlons |
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Peel Hunt LLP | Joint Broker | +44 (0) 20 7418 8900 |
Ross Allister / Alexander Allen |
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BMO Capital Markets Limited | Joint Broker | +44 (0) 20 7236 1010 |
Tom Rider |
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Tavistock | Financial PR | +44 (0) 20 7920 3150 |
Charles Vivian / Gareth Tredway Edward Lee |
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ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a low-cost, integrated, primary vanadium producer, with ownership of high-grade vanadium assets.
The Company's flagship vanadium platform includes a 74 per cent controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a primary vanadium mining and processing company; 100 per cent of Bushveld Vanchem, a primary vanadium processing facility with a beneficiation plant; the Mokopane Vanadium Project and the Brits Vanadium Project.
Bushveld's vision is to become a significant, low-cost, integrated primary vanadium producer through owning high grade assets. 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. Bushveld Energy, the Company's energy storage solutions provider, plays a leading role in the development and promotion of the role of vanadium in this market.
The Company's approach to project development recognises that, whilst attractive project economics are imperative, they may be 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.
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