Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBushveld Minerals Regulatory News (BMN)

Share Price Information for Bushveld Minerals (BMN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.175
Bid: 1.15
Ask: 1.20
Change: -0.025 (-2.08%)
Spread: 0.05 (4.348%)
Open: 1.20
High: 1.20
Low: 1.175
Prev. Close: 1.20
BMN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Response to AIM Disciplinary Notice

7 Dec 2018 07:30

RNS Number : 7456J
Bushveld Minerals Limited
07 December 2018
 

Bushveld Minerals Limited

("Bushveld Minerals" or the "Company")

Response to AIM Disciplinary Notice

The Board of Bushveld Minerals Limited (AIM: BMN) announces London Stock Exchange has determined a public censure of the Company and a fine of £700,000, discounted to £490,000 for early settlement. The public censure relates to breaches by the Company of AIM Rules 11 and 31 that occurred in April 2016 concerning an undertaking to pay an exclusivity fee to the vendors of Vametco, as notified by the Company on 22 April 2016.

The Company has co-operated fully with the London Stock Exchange's enquiry and that, prior to these events, the Company had no previous breaches of the AIM Rules recorded on its disciplinary record. The Company has accepted the findings of the investigation and has agreed to the settlement terms. The fine will be paid using internal resources.

The Exchange Notice is available at:

https://www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-notices/aim-notices.htm

Ian Watson, Independent Non-Executive Chairman, commented:

"The transaction in question has been at the heart of the Company's rapid transformation from a junior exploration company with a market cap of under £20 million to a significant and growing integrated mining and processing company, one of the largest mining companies listed on AIM with a market cap in excess of £450 million. This transition came with challenges in respect of both management and governance capacity of the Company, which the Company has, and continues to, proactively address.

"The Company's actions were informed by an intent to protect the economics of its shareholders and avoid unnecessary dilution, in a transaction it saw as transformational. However, the Company acknowledges that if it had engaged more fully with its nominated adviser as required under the AIM Rules, it could have met its regulatory obligations whilst also meeting its commercial objectives and the Company regrets the consequent breaches of the AIM Rules.

"In the intervening period since the events in question, Bushveld Minerals has undergone key board and operational changes; standards of governance, procedures, controls and communication have significantly improved."

Fortune Mojapelo, Chief Executive Officer, commented: 

"The Company has expressed regret in relation to the breaches arising from these matters and reiterates that it takes its AIM Rules obligations seriously and has put in place measures to ensure that the events giving rise to these breaches are not repeated in the future.

Today's settlement allows Bushveld Minerals to move forward. Since April 2016, Bushveld Minerals has transformed from a junior mining exploration company with a market capitalisation of under £20 million to a primary vanadium producer with a market capitalisation in excess of £450 million."

Enquiries: 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

Ewan Leggat / Richard Morrison

Jonathan Williams / Richard Parlons

Alternative Resource Capital

Joint Broker

Rob Collins

+44 (0) 207 186 9001

Alex Wood

+44 (0) 207 186 9004

Tavistock

Financial PR

Charles Vivian / Gareth Tredway

+44 (0) 207 920 3150

Lifa Communications

Financial PR (South Africa)

Gabriella von Ille

+27 (0) 71 112 1907

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCKQLFBVLFXFBD
Date   Source Headline
14th Mar 20249:32 amRNSFurther Update on Outstanding Funds
14th Mar 20247:00 amRNSTR-1 Notification of Major Holdings
7th Mar 20243:00 pmRNSTR-1 Notification of Major Holdings
29th Feb 20245:30 pmRNSFurther Update on Outstanding Funds
16th Feb 20247:08 amRNSFurther update on Outstanding Funds
5th Feb 20247:08 amRNSFull year 2023 Operational Update
2nd Feb 20242:30 pmRNSForm 8.3 of the Takeover Code
1st Feb 20247:00 amRNSCompletion of Convertible Loan Note Refinancing
29th Jan 20244:25 pmRNSResignation of Finance Director
19th Jan 20244:32 pmRNSFurther Update on Outstanding Funds
15th Jan 20245:25 pmRNSTR-1 Notification of Major Holdings
15th Jan 20245:23 pmRNSTR-1 Notification of Major Holdings
15th Jan 202411:12 amRNSFurther update on Outstanding Funds
10th Jan 202412:55 pmRNSUpdate on Outstanding Funds
3rd Jan 20242:30 pmRNSUpdate following Equity Issue
27th Dec 20232:30 pmRNSResult of General Meeting
21st Dec 20237:00 amRNSReminder to vote at the General Meeting
19th Dec 202311:24 amRNSConfirmed Acquisition of Interests in Vametco
19th Dec 20237:32 amRNSConfirmed Acquisition of Interests in Vametco
15th Dec 20237:52 amRNSDefinitive sales and marketing agreement with SPR
15th Dec 20237:51 amRNSDefinitive agreement for 64% Mokopane Sale
14th Dec 202311:07 amRNSOption Agreement with Portillion
13th Dec 20237:00 amRNSCorporate Update
12th Dec 20237:00 amRNSResults of PrimaryBid Offer
6th Dec 202312:00 pmRNSInvestor Presentation
5th Dec 20231:00 pmRNSPrimaryBid Offer
5th Dec 202312:51 pmRNSResult of Bookbuild
29th Nov 20233:35 pmRNSProposed Fundraising
27th Nov 20237:00 amRNSAgreement on Convertible Loan Note Refinancing
20th Nov 202310:20 amRNSBushveld Energy Update
20th Nov 20237:15 amRNSAgreement for acquisition of interest in Vanchem
16th Nov 20235:32 pmRNSResignation of Finance Director
6th Nov 20237:00 amRNSQ3 2023 and 9M 2023 Operational Update
30th Oct 20237:00 amRNSConditional acquisition of interests in Vametco
18th Oct 20237:00 amRNSHolding(s) in Company
10th Oct 20237:00 amRNSResponse to Market Speculation
26th Sep 20237:00 amRNSInterim Results for Six Months ended 30 June 2023
20th Sep 20234:45 pmRNSHolding(s) in Company
11th Sep 20237:00 amRNSInvestment by Southern Point Resources
1st Sep 20233:58 pmRNSTR-1: Standard Notification of Major Holdings
21st Aug 20236:00 pmRNSTR-1: Standard Notification of Major Holdings
9th Aug 20231:00 pmRNSMustang Energy Update: Conversion Notice
3rd Aug 20234:39 pmRNSHolding(s) in Company
2nd Aug 20232:29 pmRNSResult of AGM
2nd Aug 20237:00 amRNSQ2 and H1 2023 Operational Update
28th Jul 20237:00 amRNSEnerox Update
14th Jul 20233:58 pmRNSConvertible Loan Note Update
6th Jul 20239:00 amRNSREPLACEMENT: Posting of Accounts and Notice of AGM
5th Jul 20234:41 pmRNSPosting of Accounts and Notice of General Meeting
30th Jun 20237:00 amRNSPosting of Accounts & Notice of General Meeting

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.