REG - Bens Creek Group PLC - Drawdown of Working Capital Facility

Bens CreekAnnouncement

19/03/2024 07:00

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RNS Number : 3154H  Bens Creek Group PLC  19 March 2024

19 March 2024

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

Drawdown of Working Capital Facility

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, announces that, further to its
notification released on 6 March 2024, Bens Creek has drawn down $7.5 million
under the Working Capital Facility in place with Avani Resources Pte Ltd
("Avani"), the Company's largest shareholder (the "Drawdown"). Furthermore, in
accordance with the terms of the Working Capital Facility, Avani have also
advanced a further $1.25 million to Bens Creek (the "Discretionary Drawdown")
as part of the discretionary component of the Working Capital Facility. After
the Drawdown and the Discretionary Drawdown, a total of $8.75 million has been
drawn down under the Working Capital Facility and $1.25 million of the Working
capital Facility remains undrawn.

The full terms of the Working Capital Facility are detailed in the Company's
announcement of 6 March 2024.

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

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