Statement re share price and update on MBU holding

RNS Number : 1911W

Bens Creek Group PLC

14 April 2023

 

14 April 2023

Bens Creek Group plc

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

Statement re share price movement and

update on shareholding of MBU Capital Group Limited

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, notes yesterday's share price movement and confirms that it is not aware of any commercial or operational reason for the share price movement.  

The Company is aware that MBU Capital Group Limited ("MBU"), the Company's largest shareholder owning 53.7 per cent. of the voting rights in the Company, is in advanced discussions to sell a significant portion of its shareholding at a price of 18 pence per share to an international commodity trading business which is expected to result in the purchaser becoming interested in 29.9 per cent. of the current issued share capital of the Company.

The Company understands that the parties remain in negotiations on the terms of the transaction and there can be no guarantee that the transaction between the two parties will conclude nor can there be any certainty on the final terms of any transaction. Bens Creek is not a party to the proposed transaction.

For further information please contact:

Bens Creek Group plc Adam Wilson, CEO Peter Shea, Chief of Staff	[phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)		[phone]
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell	[phone]

 

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