Bushveld Minerals Limited Exercise of Convertible Bonds (0892T)
October 09 2017 - 8:09AM
UK Regulatory
TIDMBMN
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
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