Issue of Equity

RNS Number : 1531S

Bens Creek Group PLC

12 November 2021

 

12 November 2021

Bens Creek Group plc

("Bens Creek" or the "Group")

Issue of equity

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that it has issued 200,000 new ordinary shares of 0.1 pence each in the Company (the "Fee Shares") to an adviser, in part settlement of an invoice for corporate Public Relations and Investor Services to be provided to the Company from 21 October 2021 through to 31 October 2022. The adviser has requested part payment in shares rather than cash, so as to better align their interest with the Group. The adviser has also agreed to a 12 month lock in on the Fee Shares. The Fee Shares will be issued at a price of 11.875 pence per ordinary share, which is the mid-market closing price for the ordinary shares of Bens Creek on 21 October 2021, the date upon which the adviser commenced providing services to the Company. The agreement was entered into by both parties on 11 November 2021.

Adam Wilson, CEO of Bens Creek said; "We are very pleased to see service providers showing such confidence in the future of our company and are pleased to welcome them as a shareholder".

Application has been made for the admission of the Fee Shares to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective at 8.00 a.m. on or around 18 November 2021. 

Following Admission, the total number of ordinary shares and voting rights in the Company will be 350,200,000. The Company does not hold any shares in treasury. From Admission, the above figure may be used by shareholders 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 pursuant to 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	[phone]
Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King Daniel Ingram	[phone]

 

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