Update on the Group's Chapter 11 process

Bens Creek Group PLC
30 April 2024
 

30 April 2024

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

 

Update on the Group's Chapter 11 process (the "Chapter 11 Process")

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that the preliminary court hearing, scheduled to be held in West Virginia yesterday to consider, inter alia, the term sheet for a $14.5 million debtor-in-possession financing facility from Avani Resources Pte Ltd, was adjourned until 8 May 2024 at the request of the Company's US legal counsel. 

 

The request was as a result of the court receiving a second debtor-in-possession finance offer. The adjournment will allow the court time to consider both debtor-in-possession financing proposals.

 

Further announcements will be made by the Company as appropriate.

 

For further information please contact:

Bens Creek Group plc                                                                                            +44 (0) 204 558 2300
Adam Wilson, CEO
Peter Shea, Chief of Staff

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)                 +44 (0) 203 328 5656
Nick Athanas / Nick Naylor / George Payne (Corporate Finance)
Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)

 

WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell                                                                                  +44 (0) 207 220 1666

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings