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Bushveld Minerals Limited Director's Dealing 2021
7537_dirs_2021-02-10_80d1cc68-eb37-4d35-9676-e45298c4479e.html
Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 5388O
Bushveld Minerals Limited
10 February 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.
10 February 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 1 February 2021, there was a disposal by the following PDMRs on 5 February 2021 in order to settle the tax obligations associated with the issue of these shares.
| PDMR | Position | Vested Bonus shares | Number of shares sold |
| Fortune Mojapelo | Group Chief Executive Officer | 440,373 | 206,951 |
| Mikhail Nikomarov | Bushveld Energy Chief Executive Officer | 119,390 | 56,107 |
| Prince Nyati | Lemur Resources Chief Executive Officer | 99,639 | 46,825 |
| Kenneth Greve | Director - Corporate Development | 156,414 | 73,446 |
| Sihle Mdluli | Director - Strategy and Corporate Services | 84,519 | 39,720 |
| Lyndon Williams | Director - Sales and Marketing | 122,481 | 57,560 |
| Bertina Symonds | General Manager - Bushveld Vametco | 115,625 | 54,338 |
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 shares sold | Resultant Shareholding | % of Enlarged Issued Share Capital |
| Fortune Mojapelo* | 13,020,373 | 206,951 | 12,813,422 | 1,08 |
| Mikhail Nikomarov | 119,634 | 56,107 | 63,527 | 0,01 |
| Prince Nyati | 135,014 | 46,825 | 88,189 | 0,01 |
| Kenneth Greve | 156,414 | 73,446 | 82,968 | 0,01 |
| Sihle Mdluli | 84,519 | 39,720 | 44,799 | 0,00 |
| Lyndon Williams | 122,481 | 57,560 | 64,921 | 0,01 |
| Bertina Symonds | 115,625 | 54,338 | 61,287 | 0,01 |
*Fortune Mojapelo now holds 8,733,422 shares in Bushveld directly and has a beneficial interest in a further 8,160,000 shares held through VM Investment Company (Pty) Ltd, a company in which he has a 50 per cent interest.
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. Fortune Mojapelo
2. Mikhail Nikomarov
3. Prince Nyati
4. Kenneth Greve
5. Sihle Mdluli
6. Lyndon Williams
7. Bertina Symonds
2
Reason for the notification
a)
Position/status
1. Chief Executive Officer
2. Bushveld Energy Chief Executive Officer
3. Lemur Resources Chief Executive Officer
4. Director - Corporate Development
5. Director - Strategy and Corporate Services
6. Director - Sales and Marketing
7. General Manager - Bushveld Vametco
b)
Initial notification /Amendment
Initial notification
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
instrument, type of instrument
Ordinary Shares of £0.01 each
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. | £0,19 | 206,951 |
| 2. | £0,19 | 56,107 |
| 3. | £0,19 | 46,825 |
| 4. | £0,19 | 73,446 |
| 5. | £0,19 | 39,720 |
| 6. | £0,19 | 57,560 |
| 7. | £0,19 | 54,338 |
e)
Aggregated information
- Aggregated volume
- Price
N/A (Single transaction)
f)
Date of the transaction
5 February 2021
g)
Place of the transaction
XLON
ENDS
Inquiries: [email protected]
| 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 | ||
| Abigail Wayne / Richard Parlons | ||
| Peel Hunt LLP | Joint Broker | +44 (0) 20 7418 8900 |
| Ross Allister / Alexander Allen | ||
| BMO Capital Markets Limited | Joint Broker | +44 (0) 20 7236 1010 |
| Tom Rider | ||
| Tavistock | Financial PR | +44 (0) 20 7920 3150 |
| Charles Vivian / Gareth Tredway Edward Lee |
||
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 www.bushveldminerals.com.
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