Bushveld Minerals Limited Result of AGM (2690V)

TIDMBMN

RNS Number : 2690V

Bushveld Minerals Limited

05 August 2020

5 August 2020

Bushveld Minerals Limited

("Bushveld Minerals", "Bushveld" or the "Company")

Annual General Meeting Results

Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer and energy storage provider, with ownership of high-grade assets in South Africa, is pleased to announce that all resolutions put to shareholders at the Annual General Meeting held earlier today were duly passed.

 
                                                                       VOTES 
                                              ------------------------------------------------------ 
 No.           ORDINARY RESOLUTIONS            IN FAVOUR          AGAINST          WITHHELD 
                                              -----------------  ---------------  ------------------ 
       To receive and adopt the Annual 
        Financial Statements of the 
        Company and the Directors report 
        and the report of the Auditors 
        for the financial year ended 
  1     31 December 2019                            186,324,377            5,000          29,816,380 
      --------------------------------------  -----------------  ---------------  ------------------ 
       To approve the Directors Fees 
        as reflected in Remuneration 
        Report and in Note 35 of the 
  2     Annual Financial Statements                 179,224,393       36,560,030             361,334 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That Messrs RSM UK Audit LLP 
        be reappointed as Auditors 
  3     to the Company.                             214,719,388          616,928             809,441 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That the Directors be authorised 
        to approve the remuneration 
        of the Company's Auditors to 
  4     the Company.                                207,150,161        8,993,928               1,668 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That Fortune Mojapelo shall 
        be re-elected as a Director, 
        having retired by rotation 
  5     and offered himself for re-election.        215,213,941          621,736             310,080 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That Ian Watson shall be re-elected 
        as a Director, having retired 
        by rotation and offered himself 
  6     for re-election.                            165,420,678       49,915,499             809,580 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That Jeremy Friedlander shall 
        be re-elected as a Director, 
        having retired by rotation 
  7     and offered himself for re-election.        166,220,678       49,915,499               9,580 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That Tanya Chikanza shall be 
        re-elected as a Director in 
        accordance with Article 140 
        of the Articles, having been 
        appointed by the Directors 
  8     in October 2019.                            215,330,369            5,808             809,580 
      --------------------------------------  -----------------  ---------------  ------------------ 
       That Dolly Mokgatle shall be 
        re-elected as a Director in 
        accordance with Article 140 
        of the Articles, having been 
        appointed by the Directors 
  9     in March 2020.                              200,385,163       13,466,499           2,294,095 
      --------------------------------------  -----------------  ---------------  ------------------ 
       The Company be generally and 
        unconditionally authorised 
        for the purposes of Articles 
        50.3 of the Articles to make 
 10     on market acquisitions.                     216,004,044          141,225                 488 
      --------------------------------------                     ---------------  ------------------ 
       The Directors of the Company 
        be and are hereby authorised 
        to exercise all powers of the 
        Company to issue, grant rights 
        to subscribe for, or to convert 
 11     any securities.                             215,174,784           89,154             881,819 
      --------------------------------------                     ---------------  ------------------ 
        SPECIAL RESOLUTION 
----  ---------------------------------------------------------------------------------------------- 
       If Resolution 11 is passed, 
        the Directors of the Company 
        be and they are hereby authorised 
        to exercise all powers of the 
        Company to issue or grant Equity 
        Securities in the capital of 
        the Company pursuant to the 
        issue or grant referred to 
 10     in Resolution 11.                           178,385,993       37,663,101              96,663 
      --------------------------------------                     ---------------  ------------------ 
 

ENDS

Inquiries: [e-mail]

 
Bushveld Minerals                                                 [phone] 
Fortune Mojapelo, Chief Executive 
 Officer 
Chika Edeh, Head of Investor 
 Relations 
 
SP Angel Corporate Finance 
 LLP                                Nominated Adviser & Broker    [phone] 
Richard Morrison / Soltan 
 Tagiev 
Abigail Wayne / Richard Parlons 
 
Peel Hunt LLP                       Joint Broker                  [phone] 
Ross Allister / Alexander 
 Allen 
 
BMO Capital Markets Limited         Joint Broker                  [phone] 
Tom Rider/ Michael Rechsteiner 
 / 
 Neil Elliot 
 
Tavistock                           Financial PR                  [phone] 
Charles Vivian / Gareth Tredway 
 / 
 Edward Lee 
 
Brunswick                           Financial PR (South Africa)   [phone] 
Miyelani Shikwambana 
 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a low-cost, integrated, primary vanadium producer, with ownership of high-grade vanadium assets.

The Company's flagship vanadium platform includes a 74 per cent controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a primary vanadium mining and processing company; 100 per cent of Bushveld Vanchem, a primary vanadium processing facility with a beneficiation plant; the Mokopane Vanadium Project and the Brits Vanadium Project.

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

The Company's approach to project development recognises that, whilst attractive project economics are imperative, they may be insufficient to secure capital to bring them to account. A clear path to production within a visible timeframe, low capital expenditure requirements and scalability are important factors in ensuring a positive return on investment. 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 at www.bushveldminerals.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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August 05, 2020 10:18 ET (14:18 GMT)