REG - Bushveld Minerals Ld - Result of General Meeting

Bushveld MineralsAnnouncement

27/12/2023 14:30

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RNS Number : 9660X  Bushveld Minerals Limited  27 December 2023

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.

 

27 December 2023

Bushveld Minerals Limited

("Bushveld" or the "Company")

General Meeting Results

 

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium
producer, is pleased to announce that all ordinary and special resolutions put
to shareholders at the General Meeting held earlier today were duly passed.

 

 

 No.  Ordinary Resolution                                                              Votes
      In Favour                                                                                     Against     Withheld
 1    To grant the Directors the authority to issue the New Shares, the BEE            779,492,174  11,854,933  927,811
      Consortium Pre-emption Shares and the SPR Option Shares and the maximum number
      of Orion Conversion Shares that may be issuable on an Orion Conversion in
      accordance with Article 8.3 of the Articles ("Resolution 1" of the circular)
 2    To provide the flexibility to the Directors to issue shares from time to time    775,167,570  16,178,973  928,375
      and grant the authority until the next annual general meeting (unless such
      authority is revoked or renewed prior to such time) by authorising the
      Directors in accordance with Article 8.3 of the Articles to issue relevant
      securities up to an aggregate nominal amount equal to approximately one third
      of the Enlarged Share Capital ("Resolution 3" of the circular).

      Special Resolution
 3    To grant the Directors the authority to issue the New Shares, the BEE            777,189,029  13,283,193  1,802,696
      Consortium Pre-emption Shares and the SPR Option Shares and the maximum number
      of Orion Conversion Shares that may be issuable on an Orion Conversion as if
      the pre-emption rights contained in Article 9.2 of the Articles did not apply
      to such issue ("Resolution 2" of the circular).
 4     To disapply the pre-emption rights contained in Article 9.9 of the Articles     777,440,625  13,253,943  1,580,350
      in respect of the issuance of equity securities for cash pursuant to rights
      issues and other pre-emptive issues, and in respect of other issues of equity
      securities for cash up to an aggregate nominal value which equates to
      approximately 10 per cent of the Enlarged Share Capital ("Resolution 4" of the
      circular).

 

Admission, Settlement and Total Voting Rights

An application has been made to the London Stock Exchange for the
395,897,277  Fundraise Shares and 124,267,747 Orion Shares to be admitted
to trading on AIM. It is expected that Admission will become effective and
dealings in the Fundraise Shares and Orion Shares to be issued pursuant to
the Fundraise will commence on or around 28 December 2023.

Following Admission, there will be a total of 2,311,213,138 Ordinary Shares in
issue, 670,000 of which are held in treasury. Shareholders should use the
figure of 2,310,543,138 as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in the Company, under the FCA's Disclosure and Transparency
Rules.

The new Ordinary Shares to be issued pursuant to the PrimaryBid Offer will be
issued free of all liens, charges and encumbrances and will, on Admission,
rank pari passu in all respects with the new Ordinary Shares to be issued
pursuant to the Placing, the Subscription and the Company's existing Ordinary
Shares.

Furthermore, as announced on 5 December 2023, Acacia  Resources Limited
subscribed for 92,592,592 new ordinary shares of 1 pence each in the Company,
which will be settled on or before 28 February 2024. A separate AIM
application and announcement will be made regarding the admission of these
shares to trading on AIM.

Craig Coltman, CEO of Bushveld Minerals Limited, commented:

"I would like to thank the shareholders for voting in favour of all the
resolutions. Your support is of utmost importance as the equity raise which
will provide the necessary resources for the Company to meet its financial
obligations, increase production and ensure stability."

 

Enquiries: info@Bushveldminerals.com (mailto: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, Joint Broker & Joint Bookrunner      +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Barker / Richard Parlons

 Hannam & Partners                                       Joint Broker & Joint Bookrunner                         +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

 

 

 

ENDS

 

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a vertically integrated primary vanadium producer, it is
one of only three operating primary vanadium producers. 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.

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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