Exercise of warrants and change to TVR

RNS Number : 3594L

Bens Creek Group PLC

13 May 2022

 

13 May 2022

Bens Creek Group plc

(" Bens Creek " or the " Company ")

Exercise of warrants and change to total voting rights

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that it has received notice for the exercise of warrants to subscribe for 250,000 new ordinary shares of 0.10 pence each in the Company (the "Ordinary Shares").  The exercise price is 10 pence per new Ordinary Share. The warrants were issued to WH Ireland Limited ("WHI") in their capacity as a sub-placing agent of Clear Capital Markets Limited and as part of their broking fees for the placing announced on 15 October 2021. Following the exercise, WHI continue to hold, as part of their broking fees, 250,000 warrants exercisable at 10 pence per share as well as the warrants detailed in the announcement released by the Company on 29 April 2022.

Additionally, the Company has received notice from Allenby Capital Limited ("Allenby Capital") for the exercise of warrants to subscribe for 118,250 new Ordinary Shares. The exercise price is 10 pence per new Ordinary Share. The warrants were issued to Allenby Capital as part of their broking fees for the placing announced on 15 October 2021.

The exercise of these warrants will generate proceeds of £36,825 for the Company.

Application has been made for the 368,250 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 18 May 2022.

Upon Admission, the Company's issued share capital will consist of 354,400,000 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 354,400,000. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information please contact:

Bens Creek Group plc Adam Wilson, CEO Raju Haldankar, CFO [phone] Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) [phone] Optiva Securities Limited (Joint Broker) Christian Dennis / Mariela Jaho / Daniel Ingram [phone]

 

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