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.
31 May 2024
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 the resolution put to
shareholders at the General Meeting held earlier today was duly
passed. The Company additionally announces that it has agreed with
Acacia Resources Limited that in exchange for them voting in favour
of the resolution today, Bushveld has agreed to extend the payment
date for their subscription to 31 December 2024. All other terms of
the subscription remain the same.
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No.
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Ordinary
Resolution
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Votes
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In
Favour
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Against
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Withheld
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1
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To proceed with the sale of
Vanchem
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989,959,661
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52,500,899
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1,323,588
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The Vanchem Disposal remains
conditional upon Orion consent to the SPR Arrangements and
Competition Tribunal Approval, which is expected at the end July
2024/beginning of August 2024.
Craig Coltman, CEO of Bushveld Minerals Limited,
commented:
"I would like to thank the shareholders for voting in
favour of today's resolution. The
sale of Vanchem will enable the Group to focus its management and
financial capacity on Vametco, without incurring the additional
working capital and capital expenditures demands at Vanchem which
in the current market environment are unsustainable. The Company
will now seek to complete outstanding conditions to enable it to
drawdown on additional funding from SPR and to complete the Orion
2024 Financing Package as detailed in the Company's
circular."
Defined terms used in this
announcement carry the same meanings as those ascribed to them in
the Company's circular.
Enquiries: info@Bushveldminerals.com
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Bushveld Minerals Limited
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+27 (0) 11
268 6555
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Craig Coltman, Chief Executive Officer
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SP
Angel Corporate Finance LLP
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Nominated Adviser & Joint Broker
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+44 (0) 20
3470 0470
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Richard Morrison / Charlie
Bouverat
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Grant Barker / Richard
Parlons
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Hannam & Partners
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Joint Broker
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+44 (0) 20
7907 8500
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Andrew Chubb / Matt
Hasson / Jay Ashfield
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Tavistock
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Financial PR
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+44 (0)
207 920 3150
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Gareth Tredway / Tara
Vivian-Neal / James Whitaker
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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
