Bushveld Minerals Limited (LON:BMN), a diversified mineral development company with a portfolio of vanadium, tin, coal assets and other interests in Southern Africa, this morning announced the admission of AfriTin Mining to trading on the AIM market of the London Stock Exchange. Dealings in AfriTin will commence at 8.00 am today.
Anthony Viljoen will become the Chief Executive Officer of AfriTin Mining and as such will stand down as an executive director at Bushveld with immediate effect. However, he will remain on the board of the Company as a non-executive director.
Upon Admission to AIM, Bushveld will own a total of 51,995,342 AfriTin Mining Shares, representing 17.48 per cent of the issued share capital of AfriTin Mining, which at the issue price of 3.9p, is valued at approximately GBP2.0 million. A further 24.39 per cent of the issued share capital of AfriTin Mining will be distributed to the Bushveld shareholders on the register as at the close of business on 08 November 2017.
AfriTin Mining’s Admission Document is available on the company’s website: www.afritinmining.com
Fortune Mojapelo, CEO of Bushveld Minerals, said: “With this milestone, we have fulfilled our promise to shareholders to develop the necessary critical-mass for a stand-alone tin company with a near-term production profile and a perfect opportunity to grow into the African tin champion. This is the culmination of significant work done over the years.
“We are delighted to have AfriTin listed on the AIM Market. As a substantial and committed shareholder, Bushveld will remain supportive of AfriTin. Congratulations to Anthony and his team; we wish them well for the future.”