BEN.L Regulatory News (BEN)

7 October 2022

Bens Creek Group plc

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

Amendment to share option scheme, acquisition of share options by PDMR and Non-PDMR, exercise of options by Non-PDMRs and

change to total voting rights

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces the following:

Amendment to share options

The Company announces that, on 4 October 2022, it amended the terms of the share options granted to a US based, non-board and non PDMR employee ("US Employee") to allow a proportion of his options in the Ordinary Shares of the Company to be transferrable to other employees within the Group or directors of the Company. The US Employee was granted options at the time of the Company's IPO in October 2021 and further details of the options granted at the time of IPO are set out in the admission document published in October 2021

Director/PDMR dealing and exercise of options

The Company is pleased to announce that Robin Fryer, Non-Executve Chairman of the Company and a PDMR, on 6 October 2022, acquired 150,000 share options from the US Employee at a price of 18.5p per share option. This represents Robin's inaugural investment in the Company. Furthermore, in the event that Robin Fryer exercises the share options he will be required to pay the Company 5p per share option exercised.

Furthermore, a non PDMR employee of the Company, on 6 October 2022, purchased 50,000 share options from the US Employee at a price of 18.5 pence per option and has simultaneously exercised 50,000 options at a price of 5p per share.

At the same time the US Employee has exercised an additional 740,000 share options over the Ordinary Shares in the Company at a price of 5p per Ordinary Share.

The notification and public disclosure of transactions by persons discharging managerial responsibilities in accordance with the requirements of the EU Market Abuse Regulation, which forms part of Domestic UK Law pursuant to the European Union (Withdrawal) Act 2018, is appended below.

Application will be made shortly for the 790,000 new Ordinary Shares subject to the exercise of options as detailed above to be admitted to trading on AIM and it is expected that Admission will occur on or around 14 October 2022.

Total Voting Rights

Upon Admission, the Company's issued share capital will consist of 375,190,000 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 375,190,000. With effect from Admission, 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 to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information please contact:

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them