Last checked at 21 Jul 2020 12:55
21 July 2020
Bushveld Minerals Limited
("Bushveld Minerals" or the "Company")
Director/PDMR Shareholding
Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer and energy storage provider, with ownership of high-grade assets in South Africa, ("Bushveld"), announces that on 20 July 2020 the following nominal-cost share awards over ordinary shares of 1p (the "Bonus Award") each in the Company were granted under the Conditional Share Plan (the "CSP"), which was described in the remuneration report of the Company's December 2018 and December 2019 annual reports, to certain directors and persons discharging managerial responsibilities ("PDMRs") as follows:
PDMR | Position | Bonus Awards
|
Fortune Mojapelo | Group Chief Executive Officer | 880,745 |
Mikhail Nikomarov | Bushveld Energy Chief Executive Officer | 238,779 |
Prince Nyati | Lemur Resources Chief Executive Officer | 199,277 |
Kenneth Greve | Director - Corporate Development | 312,828 |
Sihle Mdluli | Director - Strategy and Corporate Services | 169,038 |
Lyndon Williams | Director - Sales and Marketing | 244,961 |
Bertina Symonds | General Manager - Bushveld Vametco | 231,249 |
These Bonus Awards are linked to Short Term Incentive Performance and are subject to a three-year vesting period (between 20 July 2020 to 19 July 2023) and subject to continued employment, but not subject to forward looking performance vesting conditions.
ENDS
Inquiries: info@bushveldminerals.com
Bushveld Minerals | +27 (0) 11 268 6555 | |
Fortune Mojapelo, Chief Executive Officer | ||
Chika Edeh, Head of Investor Relations | ||
SP Angel Corporate Finance LLP | Nominated Adviser & Broker | +44 (0) 20 3470 0470 |
Richard Morrison / Soltan Tagiev | ||
Abigail Wayne / Richard Parlons | ||
Peel Hunt LLP | Joint Broker | +44 (0) 20 7418 8900 |
Ross Allister / Alexander Allen | ||
BMO Capital Markets Limited | Joint Broker | +44 (0) 20 7236 1010 |
Tom Rider / Michael Rechsteiner Neil Elliot | ||
Tavistock | Financial PR | +44 (0) 20 7920 3150 |
Charles Vivian / Gareth Tredway Edward Lee | ||
Brunswick | Financial PR (South Africa) | +27 (0) 11 502 7300 |
Miyelani Shikwambana |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
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 | 1. Fortune Mojapelo 2. Mikhail Nikomarov 3. Prince Nyati 4. Kenneth Greve 5. Sihle Mdluli 6. Lyndon Williams 7. Bertina Symonds | ||||||||||||||||||||||||
2 | Reason for the notification | |||||||||||||||||||||||||
a) | Position/status | 1. Chief Executive Officer 2. Bushveld Energy Chief Executive Officer 3. Lemur Resources Chief Executive Officer 4. Director - Corporate Development 5. Director - Strategy and Corporate Services 6. Director - Sales and Marketing 7. General Manager - Bushveld Vametco | ||||||||||||||||||||||||
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 | Grant of Options in the form of nil-cost options over ordinary shares in the Company | ||||||||||||||||||||||||
d) | Price(s) and volume(s) |
| ||||||||||||||||||||||||
e) | Aggregated information - Aggregated volume - Price | N/A (Single transaction) | ||||||||||||||||||||||||
f) | Date of the transaction | 20 July 2020 | ||||||||||||||||||||||||
g) | Place of the transaction | Outside of a trading venue | ||||||||||||||||||||||||
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.