REG - Bens Creek Group PLC - Holding(s) in Company

Bens CreekAnnouncement

07/02/2023 18:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230207:nRSG2243Pa&default-theme=true

RNS Number : 2243P  Bens Creek Group PLC  07 February 2023

7 February 2023

 

Bens Creek Group plc

 

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

 

Holding in Company

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, announces that it has today been
advised by MBU Capital Group Limited ("MBU"), the Company's largest
shareholder, that, following demand from institutional investors, it has today
sold 22,222,222 ordinary shares in the Company ("Ordinary Shares") at a price
of 18p per ordinary share, equivalent to 5.92% of the existing issued share
capital of the Company, to diversify the shareholder base of the Company.

 

Post disposal, MBU will continue to hold 190,579,479 Ordinary Shares
representing 50.80% of the ordinary issued share capital of the Company. In
addition Mohammed Iqbal, MBU's ultimate beneficial owner, holds 3,333,336
Ordinary Shares in the Company representing 0.89% of the ordinary share
capital of the Company.

 

The TR1 notification below was received today from MBU and sets out the
details of MBU's shareholding in the Company.

 

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

 

 

TR-1: Standard form for notification of major holdings

 

 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
 FCA in Microsoft Word format if possible) (i)

 1a. Identity of the issuer or the underlying issuer of existing shares to                                                                                    Bens Creek Group plc
 which voting rights are attached (ii):
 1b. Please indicate if the issuer is a non-UK issuer  (please mark with an
 "X" if appropriate)
 Non-UK issuer
 2. Reason for the notification (please mark the appropriate box or boxes with
 an "X")
 An acquisition or disposal of voting rights                                                                                                                                                                                                               X
 An acquisition or disposal of financial instruments
 An event changing the breakdown of voting rights
 Other (please specify) (iii):
 3. Details of person subject to the notification obligation (iv)
 Name                                                                                                                                                         MBU Capital Group Limited
 City and country of registered office (if applicable)                                                                                                        8-10 Hill Street, Mayfair, London, W1J 5NG.
 4. Full name of shareholder(s) (if different from 3.) (v)
 Name
 City and country of registered office (if applicable)
 5. Date on which the threshold was crossed or reached (vi):                                                                                                  7 February 2023
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                               7 February 2023
 7. Total positions of person(s) subject to the notification obligation
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments      Total of both in % (8.A + 8.B)  Total number of voting rights held in issuer (8.A + 8.B) (vii)

(total of 8.B 1 + 8.B 2)
 Resulting situation on the date on which threshold was crossed or reached  51.68                                                                                                        51.68                           193,912,815
 Position of previous notification (if                                      57.55                                                                                                        57.55

 applicable)

 

 8. Notified details of the resulting situation on the date on which the
 threshold was crossed or reached (viii)
 A: Voting rights attached to shares
 Class/type of                                  Number of voting rights (ix)                                              % of voting rights

shares

 ISIN code (if possible)
                                                Direct                    Indirect                                        Direct                                           Indirect

                                                (DTR5.1)                   (DTR5.2.1)                                     (DTR5.1)                                         (DTR5.2.1)
 Ordinary Shares                                190,579,479               3,333,336                                       50.80                                            0.89

 SUBTOTAL 8. A                                  193,912,815                                                               51.68

 B 1: Financial Instruments according to DTR5.3.1R (1) (a)
 Type of financial instrument                   Expiration  Exercise/                             Number of voting rights that may be acquired if the instrument is        % of voting rights

date (x)
Conversion Period (xi)

                                                                                                  exercised/converted.

                                                            SUBTOTAL 8. B 1

 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
 (1) (b)
 Type of financial instrument  Expiration                   Exercise/                   Physical or cash                                          Number of voting rights  % of voting rights

date (x)
Conversion Period (xi)

                                                                                        Settlement (xii)

                                                                                        SUBTOTAL 8.B.2

 

 9. Information in relation to the person subject to the notification
 obligation (please mark the

 applicable box with an "X")
 Person subject to the notification obligation is not controlled by any natural
 person or legal entity and does not control any other undertaking(s) holding
 directly or indirectly an interest in the (underlying) issuer (xiii)
 Full chain of controlled undertakings through which the voting rights and/or                                                                                                                                             X
 the

financial instruments are effectively held starting with the ultimate
 controlling natural person or legal entity (please add additional rows as
 necessary) (xiv)
 Name (xv)                   % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher  Total of both if it equals or is higher than the notifiable threshold
                                                                                                         than the notifiable threshold
 MBU Capital Group Limited   50.80                                                                                                                                                   80.80
 Mohammed Iqbal              0.89                                                                                                                                                    0.89

 10. In case of proxy voting, please identify:
 Name of the proxy holder
 The number and % of voting rights held
 The date until which the voting rights will be held

 11. Additional information (xvi)

 

 Place of completion  London, United Kingdom
 Date of completion   7 February 2023

 

 

 

 

 

 

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  HOLUBVBROWUURAR