REG - Bushveld Minerals Ld - Vanchem Sale Update

Bushveld MineralsAnnouncement

01/11/2024 15:15

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RNS Number : 6827K  Bushveld Minerals Limited  01 November 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.

 

01 November 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Vanchem Sale Update

 

Bushveld Minerals (AIM: BMN), the AIM quoted, integrated primary vanadium
producer, is pleased to announce that, further to the interim results
announcement of 17 September 2024 and the proposed conditional disposal of
Vanchem announcement of 07 May 2024, all conditions relating to the sale of
the Vanchem vanadium processing plant, including Competition Tribunal
approval, have now been met with final agreements being entered into on 31
October 2024. The transaction closed on the 31(st) of October and will become
effective on Thursday, 07 November 2024.

 

Craig Coltman, CEO of Bushveld Minerals Limited, commented:

"With the Competition Tribunal's approval and all conditions now satisfied,
the sale of Vanchem represents an important step in our efforts to create a
more resilient business."

 

Financial Information relating to Vanchem

For the year ended 31 December 2023, Vanchem reported sales of ZAR 843.0
million (c. US$47.8 million) and recorded a loss before tax of ZAR638.1
million (c. US$36.2 million). The gross assets, of Vanchem, as at 31 December
2023 were approximately ZAR1,339 million (c. US$76.0 million).

 

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

 

ENDS

 

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 (https://www.bushveldminerals.com/)

 

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