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.
07 August 2024
Bushveld Minerals
Limited
("Bushveld" or the
"Company")
Issue of Share Options and
Director / PDMR Dealings
Bushveld Minerals
Limited (AIM: BMN), the integrated primary
vanadium producer, announces the grant of an aggregate of
37,528,005 options to subscribe for new ordinary shares of 1p each
in the Company (the "Options") to certain PDMRs and employees of
the Company. These options have been recommended by the
remuneration committee to retain the services of key executives who
are critical to the future success of the business. No incentive
bonus awards were made in FY 2022 and FY 2023.
Director Dealing
Of the Options, the Company has
granted a total of 6,387,726 nil-cost options to Craig Coltman.
4,052,205 options have been granted to Craig pursuant to his
contract of employment whereby a 1:1 share purchase matching scheme
was agreed. Further, Craig has elected to receive shares in lieu of
a 2024 cost of living salary adjustment that was due to him in July
2024 in order to ensure alignment with shareholders and reduce the
cash operating costs of the business. To effect this, a further
2,335,521 options have been granted to Craig. These options will
vest on 30 June 2025 and are subject to continued
employment.
Retention Options
Of the Options, a total of
31,140,279 nil-cost options have been awarded to key executives,
including 5,449,549 to a PDMR, who have been identified as critical
to the success of the business (the "Retention Options). The
Retention Options will vest in two tranches, 50% shall vest on 31
July 2025 and 50% on 31 January 2026. The vesting of the Retention
Options are conditional on continued employment, but not subject to
any other forward looking performance vesting conditions.
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. Craig
Coltman
2. Viki
Rapelas
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1. CEO
2. Group Executive:
Legal Governance & Compliance
|
|
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
|
Grant of Ordinary Shares as part of
employment contract
|
|
d)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
1.
|
Nil
|
6,387,726
|
|
2.
|
Nil
|
5,449,549
|
|
|
e)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
|
|
f)
|
Date of the transaction
|
6 August
2024
|
ENDS
Enquiries : 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
|
|
|
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