Last checked at 19 Mar 2024 07:00
19 March 2024
Bens Creek Group plc ("Bens Creek" or the "Company")
Drawdown of Working Capital Facility
Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that, further to its notification released on 6 March 2024, Bens Creek has drawn down $7.5 million under the Working Capital Facility in place with Avani Resources Pte Ltd ("Avani"), the Company's largest shareholder (the "Drawdown"). Furthermore, in accordance with the terms of the Working Capital Facility, Avani have also advanced a further $1.25 million to Bens Creek (the "Discretionary Drawdown") as part of the discretionary component of the Working Capital Facility. After the Drawdown and the Discretionary Drawdown, a total of $8.75 million has been drawn down under the Working Capital Facility and $1.25 million of the Working capital Facility remains undrawn.
The full terms of the Working Capital Facility are detailed in the Company's announcement of 6 March 2024.
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 / Guy McDougall (Sales and Corporate Broking)
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell +44 (0) 207 220 1666