Bushveld Notes Claims Against VRFB Over Enerox Investment

Johannesburg-based vanadium producer – Notes claim form issued in English High Court by Garnet Commerce Ltd against VRFB Holdings Ltd and Enerox Holdings Ltd.

The form seeks declarations against VRFB concerning an alleged breach of the joint venture agreement in relation in Enerox, particularly the indirect investment through Mustang Energy PLC.

VRFB will look to defend against the claims.

Bushveld has a 25% indirect interest in Enerox, through VRFB, which holds a 50% interest. Garnet also holds a stake in Enerox.

Enerox is a vanadium redox flow battery manufacturer.

Current stock price: 12.42 pence

Year-to-date change: down 36%

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