REG - Bushveld Minerals Ld - Director/PDMR Shareholding

Bushveld MineralsAnnouncement

07/08/2024 07:00

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RNS Number : 4500Z  Bushveld Minerals Limited  07 August 2024

Market Abuse Regulation ("MAR") Disclosure

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

07 August 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Issue of Share Options and Director / PDMR Dealings

 

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium
producer, announces the grant of an aggregate of 37,528,005 options to
subscribe for new ordinary shares of 1p each in the Company (the "Options") to
certain PDMRs and employees of the Company. These options have been
recommended by the remuneration committee to retain the services of key
executives who are critical to the future success of the business. No
incentive bonus awards were made in FY 2022 and FY 2023.

Director Dealing

Of the Options, the Company has granted a total of 6,387,726 nil-cost options
to Craig Coltman. 4,052,205 options have been granted to Craig pursuant to his
contract of employment whereby a 1:1 share purchase matching scheme was
agreed. Further, Craig has elected to receive shares in lieu of a 2024 cost of
living salary adjustment that was due to him in July 2024 in order to ensure
alignment with shareholders and reduce the cash operating costs of the
business. To effect this, a further 2,335,521 options have been granted to
Craig. These options will vest on 30 June 2025 and are subject to continued
employment.

 

Retention Options

 

Of the Options, a total of 31,140,279 nil-cost options have been awarded to
key executives, including 5,449,549 to a PDMR, who have been identified as
critical to the success of the business (the "Retention Options). The
Retention Options will vest in two tranches, 50% shall vest on 31 July 2025
and 50% on 31 January 2026. The vesting of the Retention Options are
conditional on continued employment, but not subject to any other forward
looking performance vesting conditions.

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.   Craig Coltman

                                                2.   Viki Rapelas

 2    Reason for the notification
 a)   Position/status                           1.   CEO

                                                2.   Group Executive: Legal Governance & Compliance

 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              Ordinary Shares of £0.01 each

      instrument, type of instrument

 b)   Identification code                       ISIN: GG00B4TM3943
 c)   Nature of the transaction                 Grant of Ordinary Shares as part of employment contract
 d)   Price(s) and volume(s)                    Price(s)  Volume(s)
                                                1.  Nil       6,387,726
                                                2.  Nil       5,449,549
 e)   Aggregated information                    N/A

      - Aggregated volume

      - Price
 f)   Date of the transaction                   6 August 2024

e)

Aggregated information

- Aggregated volume

- Price

N/A

f)

Date of the transaction

6 August 2024

 

 

 

 

ENDS

 

Enquiries :  info@Bushveldminerals.com (mailto:info@Bushveldminerals.com)

 

 Bushveld Minerals Limited                                                                     +27 (0) 11 268 6555
 Craig Coltman, Chief Executive Officer

 SP Angel Corporate Finance LLP                          Nominated Adviser & Joint Broker      +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Barker / Abigail Wayne

 Hannam & Partners                                       Joint Broker                          +44 (0) 20 7907 8500
 Andrew Chubb / Matt Hasson / Jay Ashfield

 Tavistock                                               Financial PR                          +44 (0) 207 920 3150
 Gareth Tredway / Tara Vivian-Neal / James Whitaker

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a primary vanadium producer. It is one of the world's
three primary vanadium producers, offering compelling exposure to vanadium
through its upstream asset.

 

Detailed information on the Company and progress to date can be accessed on
the website www.bushveldminerals.com (http://www.bushveldminerals.com)

 

 

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