REG - Bens Creek Group PLC - Grant of options

Bens CreekAnnouncement

29/12/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221229:nRSc1291La&default-theme=true

RNS Number : 1291L  Bens Creek Group PLC  29 December 2022

29 December 2022

 

Bens Creek Group plc

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

 

 Grant of options

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, announces that it has granted
1,000,000 options over ordinary shares in the Company to Murat Erden, the
Company's Chief Financial Officer and a person discharging managerial
responsibility.

The Company's admission document published on 13 October 2021 (the "Admission
Document") set out details of the share option scheme, details of which can be
found in paragraph 9 of Part VIII of the Admission Document and which permits
eligible persons, directors, employees and consultants to participate, at the
discretion of the Company's remuneration committee (the "Remuneration
Committee"), in the Company's share incentive scheme.

Accordingly, 6% of the Company's share capital on admission to trading on AIM
("IPO") could be granted to eligible persons, of which 4% were granted on the
Company's IPO, with a balance of 2% to be allocated thereafter by the
Remuneration Committee.

As previously announced by the Company, following a meeting of the
Remuneration Committee in December 2021 it agreed to allocate the 2% of the
unallocated share options on the same terms as those noted in the Admission
Document. As part of this unallocated pool of share options, and having been
reviewed by the Remuneration Committee as to the exercise price, eligibility
and performance criteria, the Remuneration Committee has awarded 1,000,000
options to acquire ordinary shares in the Company to Murat Erden representing
0.28% of the issued share capital of the Company on IPO and 0.26% of the
current issued share capital of the Company. These options have identical
terms and performance criteria to those granted to individuals at the IPO as
disclosed in the Admission Document. The options granted to Murat Erden will
be capable of being exercised from 12 July 2023.

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

 

'Murat has, since joining us, established himself in the role of CFO and
further contributed by bringing to bear his skills in the area of ESG which
are helping us to improve upon our own environmental care.'

 

The FCA notification, made in accordance with the requirements of the UK
Market Abuse Regulation, is appended further below.

 

 For further information please contact:

 

 Bens Creek Group plc                                            +44 (0) 204 558 2300

 Adam Wilson, CEO

 Murat Erden, CFO

 Allenby Capital Limited (Nominated Adviser and Joint Broker)    +44 (0) 203 328 5656

 Nick Athanas / Nick Naylor / George Payne (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 WH Ireland Limited (Joint Broker)                               +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell

 

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                                                         Murat Erden

 2    Reason for the notification

 a)   Position/status                                              Chief Financial Officer (non-board)

 b)   Initial notification /Amendment                              Initial

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Bens Creek Group plc

 b)   LEI                                                          213800I3FGJ7KAZGEG14

 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  Ordinary Shares of 0.1 pence each

      Identification code                                          GB00BP814F22

 b)   Nature of the transaction                                    Grant of options

 c)   Price and volume                                             Exercise price: 5 pence per share

                                                                   Volume: 1,000,000
 d)   Aggregated information

      - Aggregated volume                                          As above

      - Price

 e)   Date of the transaction                                      23 December 2022

 f)   Place of the transaction                                     Outside of a trading venue

 

 

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHDGBDDSGDDGDI