REG - Bushveld Minerals Ld - PDMR Dealing to Satisfy Tax Obligations

Bushveld MineralsAnnouncement

20/08/2021 16:25

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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