Last checked at 7 Feb 2023 18:00
7 February 2023
Bens Creek Group plc
("Bens Creek", the "Group" or the "Company")
Holding in Company
Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that it has today been advised by MBU Capital Group Limited ("MBU"), the Company's largest shareholder, that, following demand from institutional investors, it has today sold 22,222,222 ordinary shares in the Company ("Ordinary Shares") at a price of 18p per ordinary share, equivalent to 5.92% of the existing issued share capital of the Company, to diversify the shareholder base of the Company.
Post disposal, MBU will continue to hold 190,579,479 Ordinary Shares representing 50.80% of the ordinary issued share capital of the Company. In addition Mohammed Iqbal, MBU's ultimate beneficial owner, holds 3,333,336 Ordinary Shares in the Company representing 0.89% of the ordinary share capital of the Company.
The TR1 notification below was received today from MBU and sets out the details of MBU's shareholding in the Company.
For further information please contact:
Bens Creek Group plc Adam Wilson, CEO Murat Erden, CFO
| +44 (0) 204 558 2300 | |
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) | +44 (0) 203 328 5656 | |
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell |
+44 (0) 207 220 1666 | |
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i | ||||||
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: | Bens Creek Group plc | |||||
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) | ||||||
Non-UK issuer | ||||||
2. Reason for the notification (please mark the appropriate box or boxes with an "X") | ||||||
An acquisition or disposal of voting rights | X | |||||
An acquisition or disposal of financial instruments | ||||||
An event changing the breakdown of voting rights | ||||||
Other (please specify) iii: | ||||||
3. Details of person subject to the notification obligation iv | ||||||
Name | MBU Capital Group Limited | |||||
City and country of registered office (if applicable) | 8-10 Hill Street, Mayfair, London, W1J 5NG. | |||||
4. Full name of shareholder(s) (if different from 3.) v | ||||||
Name | ||||||
City and country of registered office (if applicable) | ||||||
5. Date on which the threshold was crossed or reached vi: | 7 February 2023 | |||||
6. Date on which issuer notified (DD/MM/YYYY): | 7 February 2023 | |||||
7. Total positions of person(s) subject to the notification obligation | ||||||
% of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments(total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | |||
Resulting situation on the date on which threshold was crossed or reached | 51.68 | 51.68 | 193,912,815 | |||
Position of previous notification (if applicable) | 57.55 | 57.55 | ||||
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii | |||||||||
A: Voting rights attached to shares | |||||||||
Class/type ofshares ISIN code (if possible) | Number of voting rights ix | % of voting rights | |||||||
Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | ||||||
Ordinary Shares | 190,579,479 | 3,333,336 | 50.80 | 0.89 | |||||
SUBTOTAL 8. A | 193,912,815 | 51.68 | |||||||
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B 1: Financial Instruments according to DTR5.3.1R (1) (a) | |||||||||
Type of financial instrument | Expirationdate x | Exercise/Conversion Period xi | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||
SUBTOTAL 8. B 1 | |||||||||
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B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) | |||||||||
Type of financial instrument | Expirationdate x | Exercise/Conversion Period xi | Physical or cash Settlement xii | Number of voting rights | % of voting rights | ||||
| SUBTOTAL 8.B.2 | ||||||||
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") | ||||
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii | ||||
Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv | X | |||
Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | |
MBU Capital Group Limited | 50.80 | 80.80 | ||
Mohammed Iqbal | 0.89 | 0.89 | ||
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10. In case of proxy voting, please identify: | ||||
Name of the proxy holder | ||||
The number and % of voting rights held | ||||
The date until which the voting rights will be held | ||||
11. Additional information xvi | ||||
Place of completion | London, United Kingdom |
Date of completion | 7 February 2023 |