Bushveld Minerals Limited PDMR Dealing to Satisfy Tax Obligations (3708J)

TIDMBMN

RNS Number : 3708J

Bushveld Minerals Limited

20 August 2021

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                    Number of      Price per 
                                           of transaction           shares sold    share (GBP) 
                                          Disposal 
                                           of Ordinary 
                                           Shares 
                      Bushveld Energy      of GBP0.01("Ordinary 
                       Chief Executive     Shares") 
 Mikhail Nikomarov     Officer             each                       59,813           0,12 
                     ------------------  -----------------------  -------------  ------------- 
                                          Disposal 
                                           of Ordinary 
                                           Shares 
                                           of GBP0.01("Ordinary 
                      Director - Sales     Shares") 
 Lyndon Williams       and Marketing       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 s       Resultant   % of Enlarged 
                                               hares sold    Shareholding    Issued Share 
                                                                                  Capital 
 Mikhail Nikomarov                 1 82,916        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            Initial notification 
         /Amendment 
      ------------------------------  ------------------------------------------ 
  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    Ordinary Shares of GBP0.01 each 
         instrument, type of 
         instrument 
      ------------------------------  ------------------------------------------ 
  b)    Identification code             ISIN: GG00B4TM3943 
      ------------------------------  ------------------------------------------ 
  c)    Nature of the transaction       Sale of shares to fulfil tax obligations 
      ------------------------------  ------------------------------------------ 
  d)    Price(s) and volume(s)                Price(s)    Volume(s) 
                                         1.     GBP0,12       59,576 
                                             ----------  ----------- 
                                         2.     GBP0,12      122,480 
                                             ----------  ----------- 
      ------------------------------  ------------------------------------------ 
  e)    Aggregated information          N/A (Single transaction) 
         - Aggregated volume 
         - Price 
      ------------------------------  ------------------------------------------ 
  f)    Date of the transaction         20 August 2021 
      ------------------------------  ------------------------------------------ 
 

ENDS

Enquiries: [e-mail]

 
Bushveld Minerals Limited                                        [phone] 
Fortune Mojapelo, Chief Executive 
 Officer 
Chika Edeh, Head of Investor 
 Relations 
 
SP Angel Corporate Finance 
 LLP                                Nominated Adviser & Broker   [phone] 
Richard Morrison / Charlie 
 Bouverat 
Grant Baker / Richard Parlons 
 
Peel Hunt Limited                   Joint Broker                 [phone] 
Ross Allister / Alexander 
 Allen 
 
Tavistock                           Financial PR 
Gareth Tredway / Tara Vivian-Neal                                [phone] 
 

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

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END

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August 20, 2021 11:24 ET (15:24 GMT)