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Pin to quick picksBushveld Minerals Regulatory News (BMN)

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PDMR Dealing to Satisfy Tax Obligations

Fri, 20th Aug 2021 16:24

RNS Number : 3708J
Bushveld Minerals Limited
20 August 2021
 

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.

 

20 August 2021

 

Bushveld Minerals Limited

("Bushveld Minerals" or the "Company")

PDMR Dealing to satisfy tax obligations

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 that, subsequent to the PDMR issue of shares previously announced on 6 August 2021, there was a disposal by the following PDMRs on 20 August 2021 in order to, in part, settle the tax obligations associated with the issue of these shares.

PDMR

Position

Nature of transaction

Number of shares sold

Price per share (£)

Mikhail Nikomarov

Bushveld Energy Chief Executive Officer

Disposal of Ordinary Shares of £0.01("Ordinary Shares") each

59,813

 

0,12

Lyndon Williams

Director - Sales and Marketing

Disposal of Ordinary Shares of £0.01("Ordinary Shares") each

122,480

 

0,12

 

PDMR Shareholdings

Following the settlement of the tax obligations associated with the issue of shares, the directors' shareholdings in the Company are as follows:

Director

Current Shareholding

Number of shares sold

Resultant Shareholding

% of Enlarged Issued Share Capital

Mikhail Nikomarov

182,916

59,813

123,103

0,01

Lyndon Williams

122,480

122,480

0

0

 

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

1. Mikhail Nikomarov

2. Lyndon Williams

2

Reason for the notification

a)

Position/status

1. Bushveld Energy Chief Executive Officer

2. Director - Sales and Marketing

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 to fulfil tax obligations

d)

Price(s) and volume(s)

Price(s)

Volume(s)

1.

£0,12

59,576

2.

£0,12

122,480

e)

Aggregated information

- Aggregated volume

- Price

N/A (Single transaction)

f)

Date of the transaction

20 August 2021

 

ENDS

 

Enquiries: info@bushveldminerals.com

Bushveld Minerals Limited

+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 / Charlie Bouverat

Grant Baker / Richard Parlons

Peel Hunt Limited

Joint Broker

+44 (0) 20 7418 8900

Ross Allister / Alexander Allen

Tavistock

Financial PR

Gareth Tredway / Tara Vivian-Neal

+44 (0) 207 920 3150

 

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a low-cost, vertically integrated primary vanadium producer. It is one of only three operating primary vanadium producers, owning 2 of the world's 4 operating primary vanadium processing facilities. In 2020, the Company produced more than 3,600 mtV, representing approximately three per cent of the global vanadium market. With a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors, the Company participates in the entire vanadium value chain through its two main pillars: Bushveld Vanadium, which mines and processes vanadium ore; and Bushveld Energy, an energy storage solutions provider. Bushveld Vanadium is targeting to materially grow its vanadium production and achieve an annualised steady state production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a by the end of 2022, from projects currently being implemented. Beyond that, pre-feasibility studies are in progress to determine the optimal path to increase production even further to a steady state production run rate of between 6,400 mtVp.a. and 6,800 mtVp.a. in the medium-term and to a steady state production run rate of 8,400 mtVp.a in the long term.

 

Bushveld Energy is focused on developing and promoting the role of vanadium in the growing global energy storage market through the advancement of vanadium-based energy storage systems, specifically Vanadium Redox Flow Batteries ("VRFBs").

 

Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com 

 

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END
 
 
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