29 Dec 2022 07:00
29 December 2022
Bens Creek Group plc
("Bens Creek", the "Group" or the "Company")
Grant of options
Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that it has granted 1,000,000 options over ordinary shares in the Company to Murat Erden, the Company's Chief Financial Officer and a person discharging managerial responsibility.
The Company's admission document published on 13 October 2021 (the "Admission Document") set out details of the share option scheme, details of which can be found in paragraph 9 of Part VIII of the Admission Document and which permits eligible persons, directors, employees and consultants to participate, at the discretion of the Company's remuneration committee (the "Remuneration Committee"), in the Company's share incentive scheme.
Accordingly, 6% of the Company's share capital on admission to trading on AIM ("IPO") could be granted to eligible persons, of which 4% were granted on the Company's IPO, with a balance of 2% to be allocated thereafter by the Remuneration Committee.
As previously announced by the Company, following a meeting of the Remuneration Committee in December 2021 it agreed to allocate the 2% of the unallocated share options on the same terms as those noted in the Admission Document. As part of this unallocated pool of share options, and having been reviewed by the Remuneration Committee as to the exercise price, eligibility and performance criteria, the Remuneration Committee has awarded 1,000,000 options to acquire ordinary shares in the Company to Murat Erden representing 0.28% of the issued share capital of the Company on IPO and 0.26% of the current issued share capital of the Company. These options have identical terms and performance criteria to those granted to individuals at the IPO as disclosed in the Admission Document. The options granted to Murat Erden will be capable of being exercised from 12 July 2023.
Adam Wilson, Chief Executive Officer of Bens Creek, commented:
'Murat has, since joining us, established himself in the role of CFO and further contributed by bringing to bear his skills in the area of ESG which are helping us to improve upon our own environmental care.'
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation, is appended further below.
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 |
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
| Murat Erden |
2
| Reason for the notification | |
a)
| Position/status
| Chief Financial Officer (non-board) |
b)
| Initial notification /Amendment
| Initial |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |
a)
| Name
| Bens Creek Group plc |
b)
| LEI
| 213800I3FGJ7KAZGEG14 |
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 of 0.1 pence each |
Identification code | GB00BP814F22 | |
b)
| Nature of the transaction
| Grant of options |
c) | Price and volume | Exercise price: 5 pence per share Volume: 1,000,000 |
d)
| Aggregated information | |
- Aggregated volume | As above | |
- Price | ||
e)
| Date of the transaction
| 23 December 2022 |
f)
| Place of the transaction
| Outside of a trading venue |
Bens Creek (BEN)