Bushveld Minerals Limited — Director's Dealing 2021

Aug 20, 2021

National Storage Mechanism | Additional information

RNS Number : 3708J

Bushveld Minerals Limited

20 August 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.

20 August 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 6 August 2021, there was a disposal by the following PDMRs on 20 August 2021 in order to, in part, settle the tax obligations associated with the issue of these shares.

PDMR	Position	Nature of transaction	Number of shares sold	Price per share (£)
Mikhail Nikomarov	Bushveld Energy Chief Executive Officer	Disposal of Ordinary Shares of £0.01("Ordinary Shares") each	59,813	0,12
Lyndon Williams	Director - Sales and Marketing	Disposal of Ordinary Shares of £0.01("Ordinary Shares") each	122,480	0,12

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
Mikhail Nikomarov	182,916	59,813	123,103	0,01
Lyndon Williams	122,480	122,480	0	0

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.    Mikhail Nikomarov

2.    Lyndon Williams

2

Reason for the notification

a)

Position/status

1.    Bushveld Energy Chief Executive Officer

2.    Director - Sales and Marketing

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.	£0,12	59,576
2.	£0,12	122,480

e)

Aggregated information

- Aggregated volume

- Price

N/A (Single transaction)

f)

Date of the transaction

20 August 2021

ENDS

Enquiries: info@bushveldminerals.com

Bushveld Minerals Limited		+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
Gareth Tredway / Tara Vivian-Neal		+44 (0) 207 920 3150

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 

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