REG - Bushveld Minerals Ld - Result of Meeting

Bushveld MineralsAnnouncement

31/05/2024 13:15

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RNS Number : 6955Q  Bushveld Minerals Limited  31 May 2024

Market Abuse Regulation ("MAR") Disclosure

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

31 May 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

General Meeting Results

 

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium
producer, is pleased to announce that the resolution put to shareholders at
the General Meeting held earlier today was duly passed. The Company
additionally announces that it has agreed with Acacia Resources Limited that
in exchange for them voting in favour of the resolution today, Bushveld has
agreed to extend the payment date for their subscription to 31 December 2024.
All other terms of the subscription remain the same.

 

 No.  Ordinary Resolution                  Votes
      In Favour                                         Against     Withheld
 1    To proceed with the sale of Vanchem  989,959,661  52,500,899  1,323,588

 

The Vanchem Disposal remains conditional upon Orion consent to the SPR
Arrangements and Competition Tribunal Approval, which is expected at the end
July 2024/beginning of August 2024.

Craig Coltman, CEO of Bushveld Minerals Limited, commented:

"I would like to thank the shareholders for voting in favour of today's
resolution. The sale of Vanchem will enable the Group to focus its management
and financial capacity on Vametco, without incurring the additional working
capital and capital expenditures demands at Vanchem which in the current
market environment are unsustainable. The Company will now seek to complete
outstanding conditions to enable it to drawdown on additional funding from SPR
and to complete the Orion 2024 Financing Package as detailed in the Company's
circular."

 

Defined terms used in this announcement carry the same meanings as those
ascribed to them in the Company's circular.

Enquiries: info@Bushveldminerals.com (mailto:info@Bushveldminerals.com)

 Bushveld Minerals Limited                                                                     +27 (0) 11 268 6555
 Craig Coltman, Chief Executive Officer

 SP Angel Corporate Finance LLP                          Nominated Adviser & Joint Broker      +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Barker / Richard Parlons

 Hannam & Partners                                       Joint Broker                          +44 (0) 20 7907 8500
 Andrew Chubb / Matt Hasson / Jay Ashfield

 Tavistock                                               Financial PR                          +44 (0) 207 920 3150
 Gareth Tredway / Tara Vivian-Neal / James Whitaker

 

 

 

ENDS

 

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a vertically integrated primary vanadium producer, it is
one of only three operating primary vanadium producers. In 2022, the Company
produced more than 3,800 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.

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

 

 

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