TIDMBMN
RNS Number : 7638H
Bushveld Minerals Limited
05 August 2021
5 August 2021
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, announces that all
ordinary resolutions put to shareholders at the Annual General
Meeting held earlier today were duly passed. Resolution 9, which
was a special resolution requiring 75 per cent of votes cast to be
in favour was not 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
1 year ended 31 December 2020. 215,800,827 46 917 465 650
--------------------------------------------- ------------ ----------- -----------
To approve the Directors Fees as
reflected in Remuneration Report
and in Note 35 of the Annual Financial
2 Statements. 112,093,663 83,495,345 20,724,386
--------------------------------------------- ------------ ----------- -----------
That Messrs RSM UK Audit LLP be
3 reappointed as Auditors to the Company. 210,772,584 5,059,449 481,361
--------------------------------------------- ------------ ----------- -----------
That the Directors be authorised
to approve the remuneration of the
4 Company's Auditors to the Company 184,609,536 31,208,208 495,650
--------------------------------------------- ------------ ----------- -----------
That Anthony Viljoen shall be re-elected
as a Director, having retired by
rotation and offered himself for
5 re-election. 184,543,956 31,736,892 32,546
--------------------------------------------- ------------ ----------- -----------
That Michael Kirkwood shall be re-elected
as a Director, having retired by
rotation and offered himself for
6 re-election. 182,683,621 33,297,227 332,546
--------------------------------------------- ------------ ----------- -----------
7 The Company be generally and unconditionally
authorised for the purposes of Articles
50.3 of the Articles to make on
market acquisitions (as defined
in Article 50.5 of the Articles)
of Ordinary Shares on such terms
and in such manner as the Directors
determine provided that:
(i) the maximum aggregate number
of Ordinary shares which may be
purchased is 119,156,154 Ordinary
Shares;
(ii) the minimum price (excluding
expenses) which may be paid for
each Ordinary share is GBP0.01;
(iii) the maximum price (excluding
expenses) which may be paid for
any Ordinary Share does not exceed
105 per cent of the average closing
price of such shares for the 5 business
days of AIM prior to the date of
purchase; and
(iv) this authority shall expire
at the conclusion of the next Annual
General Meeting of the Company unless
such authority is renewed prior
to that time (except in relation
the purchase of Ordinary Shares
the contract for which was concluded
before the expiry of such authority,
in which case such purchase may
be concluded wholly or partly after
such expiry). 141,968,405 74,313,007 31,982
--------------------------------------------- ------------ ----------- -----------
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 any securities into,
up 397,187,181 shares (together
"Equity Securities") in the capital
of the Company being approximately
one third of the issued share capital
of the Company (excluding treasury
shares) in accordance with Article
8.3 of the Articles of Incorporation
of the Company such authority to
expire, unless previously renewed,
revoked or varied by the Company
by ordinary resolution, at the end
of the next Annual General Meeting
of the Company or, if earlier, at
the close of business on the date
falling 15 months from the date
of the passing of this Resolution,
but in each case, during this period
the Company may make offers, and
enter into agreements, which would,
or might, require Equity Securities
to be issued or granted after the
authority given to the Directors
of the Company pursuant to this
Resolution ends and the Directors
of the Company may issue or grant
Equity Securities under any such
offer or agreement as if the authority
given to the Directors of the Company
pursuant to this Resolution had
not ended. This Resolution is in
substitution for all unexercised
authorities previously granted to
the Directors of the Company to
issue or grant Equity Securities;
8 and 135,151,861 79,990,646 1,170,887
--------------------------------------------- ------------ ----------- -----------
SPECIAL RESOLUTION
---- -------------------------------------------------------------------------------------
9 If Resolution 8 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
in Resolution 8 as if the pre-emption
rights contained in Article 9.9
of the Articles of Incorporation
of the Company did not apply to
such issue or grant provided that:
(A) the maximum aggregate number
of Equity Securities that may be
issued or granted under this authority
is 119,156,154 shares, being approximately
10.0 per cent of the issued share
capital of the Company (excluding
treasury shares); and (B) the authority
hereby conferred, unless previously
renewed,
revoked or varied by the Company
by special resolution, shall expire
at the end of the next Annual General
Meeting of the Company or, if earlier,
at the close of business on the
date falling 15 months from the
date of the passing of this Resolution,
save that the Company may before
such expiry make an offer or agreement
which would or might require Equity
Securities to be issued or granted
after such expiry and the Directors
may issue or grant Equity Securities
in pursuance of such an offer or
agreement as if the authority conferred
by the above resolution had not
expired. This Resolution is in substitution
for all unexercised authorities
previously granted to the Directors
of the Company to issue or grant
Equity Securities in the capital
of the Company as if the pre-emption
rights contained in Article 9.9
of the Articles of Incorporation
of the Company did not apply to
such issue or grant. 135,066,664 80,075,843 1,170,887
--------------------------------------------- ----------- -----------
S
Enquiries: info@bushveldminerals.com
Bushveld Minerals +27 (0) 11 268 6555
Fortune Mojapelo, Chief Executive
Officer
Chika Edeh, Head of Investor
Relations
SP Angel Corporate Finance
LLP Nominated Adviser & Broker +44 (0) 20 3470 0470
Richard Morrison / Charlie
Bouverat
Grant Baker / Richard Parlons
Peel Hunt Limited Joint Broker +44 (0) 20 7418 8900
Ross Allister / Alexander
Allen
Tavistock Financial PR +44 (0) 20 7920 3150
Gareth Tredway / Tara Vivian-Neal
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
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
RAGUVVVRAVUWRAR
(END) Dow Jones Newswires
August 05, 2021 12:00 ET (16:00 GMT)
Bushveld Minerals (LSE:BMN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bushveld Minerals (LSE:BMN)
Historical Stock Chart
From Apr 2023 to Apr 2024
