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BMN Bushveld Minerals Limited

1.30
0.10 (8.33%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bushveld Minerals Limited LSE:BMN London Ordinary Share GG00B4TM3943 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.10 8.33% 1.30 1.20 1.40 1.30 1.175 1.20 7,856,215 16:04:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Minrls,earths-ground,treated 151.18M -38.97M -0.0166 -0.78 30.46M

Bushveld Minerals Limited Exercise of Convertible Bonds (0892T)

09/10/2017 1:09pm

UK Regulatory


Bushveld Minerals (LSE:BMN)
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RNS Number : 0892T

Bushveld Minerals Limited

09 October 2017

9 October 2017

Bushveld Minerals Limited

("Bushveld Minerals" or the "Company")

Exercise of Convertible Bonds

Bushveld Minerals announces that it has received notice from Atlas Special Opportunities, LLC ("Atlas") to exercise GBP50,000 of convertible bonds into 540,540 ordinary shares of 1 pence each of the Company ("Ordinary Shares") at a conversion price of 9.25 pence each. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Application will be made for admission of these 540,540 new Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission and dealings in the Ordinary Shares will commence at 8.00 a.m. on 13 October 2017.

Following Admission, there will be a total of 807,278,234 Ordinary Shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 806,608,234 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.

Following the exercise of these warrants, Atlas holds a total of GBP4,450,000 Convertible Bonds.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

Enquiries: info@bushveldminerals.com

 
 Bushveld Minerals              +27 (0) 11 268 6555 
 Fortune Mojapelo 
 
 SP Angel Corporate Finance 
  LLP                           +44 (0)20 3470 0470 
 Nominated Adviser and 
  Joint Broker 
 Ewan Leggat 
 Richard Morrison 
 
 Beaufort Securities           +44 (0) 20 7382 8300 
 Joint Broker 
 Jon Belliss 
 
 Blytheweigh 
 Financial PR 
 Tim Blythe / Camilla 
  Horsfall                     +44 (0) 20 7138 3204 
 Gabriella von Ille             +27 (0) 711 121 907 
 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a diversified AIM listed mineral development company with a portfolio of vanadium, iron ore, tin and coal greenfield assets in Southern Africa and Madagascar. The Company's flagship platform, the vanadium platform, includes the Mokopane Vanadium Project, the Brits Vanadium Project, and the Bushveld Iron Ore & Titanium Project. The tin platform comprises the Mokopane Tin Project whereas the Imaloto Coal Project, which is being developed as one of Madagascar's leading independent power producers, makes up the Company's coal platform.

The Company's vision is to become the largest low cost integrated primary vanadium producer through owned low-cost high-grade assets. This incorporates development and promotion of the role of vanadium in the growing global energy storage market through Bushveld Energy, the Company's energy storage solutions provider. Whilst the demand for vanadium remains largely anchored in a slow growing steel industry, Bushveld Minerals believes there is a strong potential for imminent significant global vanadium demand surge from the fast-growing energy storage market, particularly through the use and adoption of Vanadium Redox Flow Batteries.

Bushveld Minerals' approach to project development recognises that whilst attractive project economics are imperative, they are insufficient to secure capital to bring them to account. A clear path to production with a visible timeframe, low capex requirements and scalability are important factors in retaining an attractive exit option. This philosophy is core to the Company's strategy in developing projects.

Detailed information on the Company and progress to date can be accessed on the website: www.bushveldminerals.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

CONEAAENEELXFFF

(END) Dow Jones Newswires

October 09, 2017 08:09 ET (12:09 GMT)

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