Actualización adicional sobre fondos pendientes
Regulación de abuso de mercado ("MAR") Divulgación
Este anuncio contiene información privilegiada a los efectos del artículo 7 del Reglamento de abuso de mercado (UE) 596/2014, ya que forma parte de la legislación nacional del Reino Unido en virtud de la Ley de (Retirada) de la Unión Europea de 2018 ("MAR"), y se divulga de acuerdo con las obligaciones de la Compañía bajo el Artículo 17 del MAR.
29 de febrero de 2024
Bushveld Minerals Limited
("sabana" o la "Empresa")
Actualización adicional sobre fondos pendientes
Bushveld Minerals Limited (AIM: BMN), the primary vanadium producer, announces that the Company has received a further ZAR65 million (~US$3.4 millones) de uno de Southern Point Resources' ("SPR") limited partners, on behalf of SPR, as a loan on an interest-free basis. The Company has now been loaned ~US$9.4 million on an unsecured, non-refundable, interest-free basis by SPR (the "Loan"). The delay in receiving the remaining balance of US$3.1 million is due to outstanding funds from one of SPR's institutional partners. SPR has communicated that the outstanding balance will be paid no later than 14 March 2024.
As previously mentioned, the Loan will be repaid once SPR provides Bushveld with the entire US$12.5 million subscription monies pursuant to the SPR subscription agreement (the "Subscription Agreement"). The monies received today have been paid from SPR's bank account in South Africa to Bushveld's bank account in South Africa. If the funds received to date were to be used to satisfy SPR's obligations under the Subscription Agreement, the approval of the South African Reserve Bank would have been required which would have resulted in further delays in the flow of funds.
The Company remains engaged in discussions with SPR as to when SPR will meet its obligations under the Subscription Agreement. The subscription monies owed to Bushveld remain classified as a short-term receivable on the balance sheet until they have been received. Furthermore, the share certificate that has been issued to SPR remains in the Company's possession until the default is rectified. Assuming, receipt of final funds by 14 March 2024, the Company will have sufficient working capital until it receives the consideration due to it following the completion of the sale of the 50% interest in Vanchem and its 64% interest in Mokopane.
Acacia Resources Limited - Subscription Monies
As announced on 05 December 2023, Acacia Resources Limited ("Acacia") was due to settle its subscription of US$3.5 million on or before 28 February 2024. The Company has not received the subscription monies from Acacia. Acacia requested a further two-month extension to settle its investment, which the Company denied. Acacia is, accordingly, in breach of the terms of the subscription letter which it signed with the Company on 30 November 2023. The Company is actively engaging with Acacia to resolve this issue as quickly as possible while reserving its right to take appropriate legal action.
Craig Coltman, CEO of Bushveld Minerals commented:
"We are grateful to one of SPR's limited partners for providing the US$9.4 million in their own capacity; this demonstrates SPR's commitment towards the Company. While it is frustrating that the entire funds have not been received, the Board and Management continue to engage actively and constructively with SPR. We are also actively engaging with Acacia to resolve this issue as quickly as possible."
Consultas: GME@dhr-rgv.com
Bushveld Minerals Limited | +27 0 11 268 6555 | |
craig coltman, Director Ejecutivo | ||
chika edeh, Jefe de Relaciones con Inversores | ||
SP Ángel Finanzas Corporativas LLP | Asesor designado y conjunto Broker | +44 0 20 3470 0470 |
Richard Morrison / charlie boverat |
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Grant Barker/Richard Parlons |
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Hannam y socios | Conjunto Broker | +44 0 20 7907 8500 |
Andrew Chubb/Matt Hasson/Jay Ashfield |
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Tavistock | PR financiera | +44 0 207 920 3150 |
Gareth Tredway / Tara Vivian-Neal / James Whitaker |
EXTREMOS
ACERCA DE BUSHVELD MINERALS LIMITED
Bushveld Minerals es un productor primario de vanadio y es uno de los tres únicos productores primarios de vanadio en funcionamiento. Bushveld tiene una cartera diversificada de productos de vanadio que satisface las necesidades de los sectores del acero, la energía y el químico.
Se puede acceder a información detallada sobre la Compañía y el progreso hasta la fecha en el sitio web www.bushveldminerals.com
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