Grant of Performance Rights to Directors

RNS Number : 7152Y

MC Mining Limited

17 January 2022

 

ANNOUNCEMENT  17 January 2022

GRANT OF PERFORMANCE RIGHTS TO DIRECTORS

MC Mining Limited (the "Company") confirms the award of Performance Rights under the Company's Performance Rights Plan to the directors following the approval of shareholders at the Annual General Meeting of Shareholders on 14 December 2021 ("AGM").

All seven directors (being Bernard Pryor, Andrew Mifflin, An Chee Sin, Junchao Liu, Khomotso Mosehla, Brian He Zhen and Sebastiano Randazzo) were each granted 1,000,000 Incentive Performance Rights under the Company's Performance Rights Plan. The Performance Rights are granted as conditional awards over ordinary shares of no par value for no consideration. The awards will vest on 30 June 2022 subject to the relevant vesting conditions.

Sebastiano Randazzo, the Company's executive director, was granted a further 3,871,406 Performance Rights under the Company's Performance Rights Plan As detailed in the notice of meeting for the AGM, the 3,871,406 Performance Rights granted was determined by dividing ZAR4,780,800 (representing the value of the performance rights granted for the 2021 financial year, being 83% of Mr Randazzo's fixed remuneration) by the volume weighted average price of the shares of the Company over the 30 trading days prior to the approval date of the Performance Rights, being R1.2349. The Performance Rights are granted as conditional awards over ordinary shares of no par value for no consideration. The awards will vest on 31 December 2022 subject to the relevant vesting conditions.

Current Shares and Performance Rights Held by Directors:

Other than the Performance Rights issued above, Mr Pryor holds 7,500 ordinary shares in the Company, which represents 0.005% of the Company's issued share capital. No other Director previously held any Performance Rights or ordinary shares.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.

This announcement has been approved by the Company's Disclosure Committee.

ASX:  MCM / AIM: MCM.L / JSE: MCZ

For more information contact:
Sam Randazzo	Interim Chief Executive Officer	MC Mining Limited	[phone]
Tony Bevan	Company Secretary	Endeavour Corporate Services	[phone]
Company advisors:
James Harris / James Dance	Nominated Adviser	Strand Hanson Limited	[phone]
Rory Scott	Broker (AIM)	Tennyson Securities	[phone]
James Duncan	Financial PR (South Africa)	R&A Strategic Communications	[phone]
Investec Bank Limited is the nominated JSE Sponsor

About MC Mining Limited

MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal). Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal).

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Bernard Pryor
2.	Reason for the notification
a.	Position/status	Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d.	Aggregated information ·Aggregated volume ·Price	N/A, single transaction
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Andrew Mifflin
2.	Reason for the notification
a.	Position/status	Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d.	Aggregated information ·Aggregated volume ·Price	N/A, single transaction
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	An Chee Sin
2.	Reason for the notification
a.	Position/status	Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d.	Aggregated information ·Aggregated volume ·Price	N/A, single transaction
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Junchao Liu
2.	Reason for the notification
a.	Position/status	Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d.	Aggregated information ·Aggregated volume ·Price	N/A, single transaction
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Khomotso Mosehla
2.	Reason for the notification
a.	Position/status	Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d.	Aggregated information ·Aggregated volume ·Price	N/A, single transaction
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Brian He Zhen
2.	Reason for the notification
a.	Position/status	Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d.	Aggregated information ·Aggregated volume ·Price	N/A, single transaction
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Sebastiano Randazzo
2.	Reason for the notification
a.	Position/status	Executive Director
b.	Initial notification /Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	MC Mining Limited
b.	LEI	213800G6YDVUTU9NEP37
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Performance Rights
b.	Nature of the transaction	Share Grant according to Employee scheme
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000 Nil 3,871,406
d.	Aggregated information ·Aggregated volume ·Price	4,871,406 at nil value.
e.	Date of the transaction	10 January 2022
f.	Place of the transaction	Outside of a trading venue

 

END

 

 

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