REG - Bushveld Minerals Ld - Result of AGM

Bushveld MineralsAnnouncement

02/08/2023 14:30

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RNS Number : 1044I  Bushveld Minerals Limited  02 August 2023

2 August 2023

Bushveld Minerals Limited

("Bushveld Minerals", "Bushveld" or the "Company")

Annual General Meeting Results

 

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, announces that all ordinary resolutions put to
shareholders at the Annual General Meeting held earlier today were duly
passed.

 

 No.  ORDINARY RESOLUTIONS                                                             VOTES
      IN FAVOUR                                                                                    AGAINST    WITHHELD
 1    To receive and adopt the Annual Financial Statements of the Company and the      98 533 384  90 204     1 397 262
      Directors report and the report of the Auditors for the financial year ended
      31 December 2022.
 2    To approve the Directors' fees as reflected in the Remuneration Report and in    94 251 126  4 821 496  948 228
      note 35 of the Annual Financial Statements.
 3    That Messrs RSM UK Audit LLP be reappointed as Auditors to the Company.          98 407 596  565 752    1 047 502
 4    That the Directors be authorised to approve the remuneration of the Company's    98 188 877  785 554    1 046 419
      Auditors.
 5    That Michael Kirkwood shall be re-elected as a Director, having retired by       93 991 307  4 407 531  1 622 012
      rotation and offered himself for re-election.
 6    That Kevin Alcock shall be re-elected as a Director, having retired by           96 996 430  1 402 408  1 622 012
      rotation and offered himself for re-election.
 7    That Craig Coltman shall be re-elected as a Director in accordance with          97 963 133  1 036 196  1 021 521
      Article 140 of the Articles, having been appointed by the Directors in July
      2023.
 8    The Company be generally and unconditionally authorised for the purposes of      97 900 593  733 945    1 386 312
      Articles 50.3 of the Articles to make on market acquisitions (as defined in
      Article 50.5 of the Articles) of ordinary shares on such terms and in such
      manner as the Directors determine provided that:

      (i) the maximum aggregate number of ordinary shares which may be purchased is
      128,781,828 ordinary shares;

      (ii) the minimum price (excluding expenses) which may be paid for each
      ordinary share is £0.01;

      (iii) the maximum price (excluding expenses) which may be paid for any
      ordinary share does not exceed 105 percent of the average closing

      price of such shares for the five business days of AIM prior to the date of
      purchase; and

      (iv) this authority shall expire at the conclusion of the next Annual General
      Meeting of the Company unless such authority is renewed prior to that time
      (except in relation the purchase of Ordinary Shares the contract for which was
      concluded before the expiry of such authority, in which case such purchase may
      be concluded wholly or partly after such expiry).
 9    The Directors of the Company be and are hereby authorised to exercise all        92 717 716  5 870 756  1 387 378
      powers of the Company to issue, grant rights to subscribe for, or to convert
      any securities into, up to 429,272,760 shares (together "Equity Securities")
      in the capital of the Company being approximately one- third of the issued
      share capital of the Company (excluding treasury shares) in accordance with
      Article 8.3 of the Articles of Incorporation of the Company such authority to
      expire, unless previously renewed, revoked or varied by the Company by
      ordinary resolution, at the end of the next Annual General Meeting of the
      Company or, if earlier, at the close of business on the date falling 15 months
      from the date of the passing of this Resolution, but in each case, during this
      period the Company may make offers, and enter into agreements, which would, or
      might, require Equity Securities to be issued or granted after the authority
      given to the Directors of the Company pursuant to this

      Resolution ends and the Directors of the Company may issue or grant Equity
      Securities under any such offer or agreement as if the authority given to the
      Directors of the Company pursuant to this Resolution had not ended. This
      Resolution is in substitution for all unexercised

      authorities previously granted to the Directors of the Company to issue or
      grant Equity Securities; and
      SPECIAL RESOLUTIONS
 10   If Resolution 9 is passed, the Directors of the Company be and they are hereby   92 428 510  5 893 134  1 699 206
      authorised to exercise all powers of the Company to issue or grant Equity
      Securities in the capital of the Company pursuant to the issue or grant
      referred to in Resolution 9 as if the pre-emption rights contained in Article
      9.9 of the Articles of Incorporation of the Company did not apply to such
      issue or grant provided that: (A) the maximum aggregate number of Equity
      Securities that may be issued or granted under this authority is 128,781,828
      shares, being approximately 10.0 percent of the issued share capital of the
      Company (excluding treasury shares); and (B) the authority hereby conferred,
      unless previously renewed, revoked or varied by the Company by special
      resolution, shall expire at the end of the next Annual General Meeting of the
      Company or, if earlier, at the close of business on the date falling 15 months
      from the date of the passing of this Resolution, save that the Company may
      before such expiry make an offer or agreement which would or might require
      Equity Securities to be issued or granted after such expiry and the Directors
      may issue or grant Equity Securities in pursuance of such an offer or
      agreement as if the authority conferred by the above resolution had not
      expired. This Resolution is in substitution for all unexercised authorities
      previously granted to the Directors of the Company to issue or grant Equity
      Securities in the capital of the Company as if the pre-emption rights
      contained in Article 9.9 of the Articles of Incorporation of the Company did
      not apply to such issue or grant.

 

 

Enquiries: info@bushveldminerals.com

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

 RBC Capital Markets                                Joint Broker                    +44 (0) 20 7653 4000
 Jamil Miah / Sahil Suleman

 Tavistock                                          Financial PR
 Gareth Tredway / Tara Vivian-Neal/ James Whitaker                                  +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 2022,
the Company produced more than 3,800 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 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 (http://www.bushveldminerals.com)

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