20th Aug 2021 16:24
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) |
| |||||||||
e) | Aggregated information - Aggregated volume - Price | N/A (Single transaction) | |||||||||
f) | Date of the transaction | 20 August 2021 | |||||||||
ENDS
Enquiries: [email protected]
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
Related Shares:
Bushveld Minerals