REG - MC Mining Limited - Vesting of Performance Rights and Issue of Equity

MC MiningAnnouncement

21/05/2024 15:45

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RNS Number : 3390P  MC Mining Limited  21 May 2024

ANNOUNCEMENT
                               21 May 2024

 

VESTING OF PERFORMANCE RIGHTS, ISSUE OF EQUITY AND PDMR DEALINGS

 

Goldway Capital Investment Limited (Goldway) completed an off-market takeover
process (Takeover) on 30 April 2024 for all of the ordinary shares in MC
Mining Limited (MC Mining or the Company) not already owned by Goldway or its
associates. Together with acceptances received under the Takeover, Goldway and
its associates have disclosed a combined relevant interest representing 93.05%
of the Company's issued ordinary share capital.

 

In terms of the provisions of the Company's Performance Rights Plan Rules, the
Board of MC Mining determined that the completion of the Takeover resulted in
a change of control of the Company for the purposes of the vesting of
6,122,605 Performance Rights previously granted to senior MC Mining employees.
The Performance Rights were granted in accordance with terms of the
shareholder approved Performance Rights Plan and results, following the change
of control, in the issue of, in aggregate, 6,122,605 new ordinary shares of no
par value in the capital of the Company (the Performance Rights Shares),
including Performance Rights Shares issued to certain persons discharging
managerial responsibilities (PDMRs).

 

Issue and Admission of the Performance Rights Shares

Application has been made for the Performance Rights Shares to be admitted to
trading on the ASX, AIM and JSE markets (Admission). Admission of the
Performance Rights Shares to trading on AIM is expected to become effective at
8:00 a.m. on or around 28 May 2024. The Performance Rights Shares will rank
pari passu with the Company's existing ordinary shares.

 

On Admission, MC Mining's issued share capital shall comprise 414,013,349
ordinary shares. This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the ASX Listing Rules and the FCA's
Disclosure Guidance and Transparency Rules.

 

Certain of the Performance Rights Shares have been issued to the following
non-Board PDMRs:

 PDMR            Performance Rights Shares
 Stephen Rowse   1,196,203
 Florence Duval  1,226,604

 

The notification below, made in accordance with the requirements of the UK
Market Abuse Regulation, provides further detail.

 

This announcement has been approved by the Company's Disclosure Committee.

 

 For more information contact:
 Bill Pavlovski                 Company Secretary                           Vision Corporate (Pty) Ltd            bill.pavlovski@mcmining.co.za
 Company advisers:
 Richard Johnson / Rob Patrick  Nominated Adviser                           Strand Hanson Limited                 +44 20 7409 3494

 Rory Scott                     Broker (AIM)                                Tennyson Securities                   +44 20 7186 9031
 Marion Brower                  Financial PR (South Africa)                 R&A Strategic Communications          +27 11 880 3924
 BSM Sponsors Proprietary Limited is the nominated JSE Sponsor

About MC Mining Limited:

MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining
company operating in South Africa. MC Mining's key projects include the
Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard
coking coal), Vele Colliery (semi-soft coking and thermal coal), and the
Greater Soutpansberg Projects (coking and thermal coal).

 

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                                                         1.     Stephen Rowse

                                                                  2.     Florence Duval
 2.  Reason for the Notification
 a)  Position/status                                              1.     PDMR (non-Board)

                                                                  2.     PDMR (non-Board)
 b)  Initial notification/amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         MC Mining Limited
 b)  LEI                                                          213800G6YDVUTU9NEP37
 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
     Identification code                                          AU000000MCM9
 b)  Nature of the Transaction                                    Issue of vested Performance Rights shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  -    1. 1,196,203

                                                                  -    2. 1,226,604
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      28 May 2024

 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

28 May 2024
 

f)

Place of the transaction

Outside of a trading venue

 

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