Bens Creek Group PLC - London-based mining company focused in North America - Says its subsidiary Ben's Creek Carbon LLC signs a deal to buy up to 100% of the membership interests in Ben's Creek Rail Holding LLC, a company currently owned by Bens Creek's largest shareholder, MBU Capital Group Ltd. The consideration payable by Bens Creek is up to USD650,000 in cash.
Chief Executive Officer Adam Wilson says: "We are pleased to have entered into an agreement to purchase the rail track and to have acquired an initial 26% interest in BC Rail Holding, the rail track being a further transport component now moving to being under our control. This purchase will further separate the company from its largest shareholder, MBU, who have been supportive of the business since inception and continue to be so."
Current stock price: 21.49 pence, down 2.3% on Friday afternoon in London
12-month change: down 34%
By Xindi Wei, Alliance News reporter
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Bens Creek (BEN)