REG - Bens Creek Group PLC - Resignation of Chief Financial Officer

Bens CreekAnnouncement

09/03/2023 11:00

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RNS Number : 4606S  Bens Creek Group PLC  09 March 2023

9 March 2023

 

Bens Creek Group plc

 

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

 

Resignation of Chief Financial Officer

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, announces that Murat Erden, Chief
Financial Officer of Bens Creek, has informed the Company that, in the wake of
the two earthquakes and associated aftershocks which have badly affected his
hometown in Turkey, he will no longer be able to provide the time commitment
necessary to undertake his duties as the Chief Financial Officer of Bens Creek
and a member of the Company's senior management team.

 

The Company is sympathetic to Murat's situation and has agreed with him that
his contract will formally cease on 12 July 2023, being the one-year
anniversary of his joining the Company. The Company will extend to Murat its
full support to his desire to spend more time away. Equally Murat has assured
the Company that he will be on hand until mid-July 2023 should the Company
need his assistance.

 

Murat has been donating time and money to the rescue fund set up to support
the families who are suffering. Bens Creek has, by way of support, also made a
donation. The thoughts of everyone at the Company are with Murat and his
family.

 

On 29 December 2022, the Company announced that it had granted 1,000,000
options over ordinary shares to Murat Erden. As part of the agreement with
Murat, the Company has resolved to vary the date from when these options are
capable of exercise from 12 July 2023 to 9 March 2023. The remainder of the
terms of the options remain unchanged as set out in the announcement of 29
December 2022.

 

Murat leaves the Group's finance function in good order; he has significantly
enhanced the Group's processes, especially in developing the Company's ESG
strategy.  In addition, he has overseen the publication of the Company's last
interim financial statements and arranged equipment financing.

 

Arondeep Binnig, the Company's financial controller, will assume day to day
responsibility for the Company's finance function and he is well supported by
a fully qualified team. The Company intends to commence the search for a new
Chief Financial Officer and a further announcement will be made as and when
appropriate.

 

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

 

"We wholeheartedly thank Murat for his contribution to the growth of Bens
Creek, we are hugely saddened by the events in his hometown within Turkey.
We fully support Murat in his efforts to make a difference to the relief
program."

 

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 (Sales and Corporate Broking)

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

 Harry Ansell / Katy Mitchell

 

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