REG - Bens Creek Group PLC - Statement re share price and update on MBU holding

Bens CreekAnnouncement

14/04/2023 07:00

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RNS Number : 1911W  Bens Creek Group PLC  14 April 2023

14 April 2023

 

Bens Creek Group plc

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

 

Statement re share price movement and

update on shareholding of MBU Capital Group Limited

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, notes yesterday's share price
movement and confirms that it is not aware of any commercial or operational
reason for the share price movement.

The Company is aware that MBU Capital Group Limited ("MBU"), the Company's
largest shareholder owning 53.7 per cent. of the voting rights in the Company,
is in advanced discussions to sell a significant portion of its shareholding
at a price of 18 pence per share to an international commodity trading
business which is expected to result in the purchaser becoming interested in
29.9 per cent. of the current issued share capital of the Company.

The Company understands that the parties remain in negotiations on the terms
of the transaction and there can be no guarantee that the transaction between
the two parties will conclude nor can there be any certainty on the final
terms of any transaction. Bens Creek is not a party to the proposed
transaction.

 

 

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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