Resignation of Chief Financial Officer

RNS Number : 4606S

Bens Creek Group PLC

09 March 2023

 

9 March 2023

Bens Creek Group plc

("Bens Creek", the "Group" or the "Company")

Resignation of Chief Financial Officer

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that Murat Erden, Chief Financial Officer of Bens Creek, has informed the Company that, in the wake of the two earthquakes and associated aftershocks which have badly affected his hometown in Turkey, he will no longer be able to provide the time commitment necessary to undertake his duties as the Chief Financial Officer of Bens Creek and a member of the Company's senior management team.

The Company is sympathetic to Murat's situation and has agreed with him that his contract will formally cease on 12 July 2023, being the one-year anniversary of his joining the Company. The Company will extend to Murat its full support to his desire to spend more time away. Equally Murat has assured the Company that he will be on hand until mid-July 2023 should the Company need his assistance.

Murat has been donating time and money to the rescue fund set up to support the families who are suffering. Bens Creek has, by way of support, also made a donation. The thoughts of everyone at the Company are with Murat and his family.

On 29 December 2022, the Company announced that it had granted 1,000,000 options over ordinary shares to Murat Erden. As part of the agreement with Murat, the Company has resolved to vary the date from when these options are capable of exercise from 12 July 2023 to 9 March 2023. The remainder of the terms of the options remain unchanged as set out in the announcement of 29 December 2022.

Murat leaves the Group's finance function in good order; he has significantly enhanced the Group's processes, especially in developing the Company's ESG strategy.  In addition, he has overseen the publication of the Company's last interim financial statements and arranged equipment financing.

Arondeep Binnig, the Company's financial controller, will assume day to day responsibility for the Company's finance function and he is well supported by a fully qualified team. The Company intends to commence the search for a new Chief Financial Officer and a further announcement will be made as and when appropriate.

Adam Wilson, Chief Executive Officer of Bens Creek, commented :

"We wholeheartedly thank Murat for his contribution to the growth of Bens Creek, we are hugely saddened by the events in his hometown within Turkey.  We fully support Murat in his efforts to make a difference to the relief program."

For further information please contact:

Bens Creek Group plc Adam Wilson, CEO Peter Shea, Chief of Staff	[phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)		[phone]
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell	[phone]

 

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