MC Mining Limited Grant of Performance Rights to Executive Directors (2884X)
December 18 2019 - 2:10AM
UK Regulatory
TIDMMCM
RNS Number : 2884X
MC Mining Limited
18 December 2019
ANNOUNCEMENT 18 December 2019
GRANT OF PERFORMANCE RIGHTS TO EXECUTIVE DIRECTORS
MC Mining Limited (the "Company") confirms the award of
Performance Rights under the Company's Performance Rights Plan to
executive directors, David Brown and Brenda Berlin, following the
approval of shareholders at the Annual General Meeting of
Shareholders ("AGM") on 22 November 2019.
Following the approval of shareholders David Brown, Chief
Executive Officer and Brenda Berlin, Chief Financial Officer, were
granted a total of 915,852 Performance Rights and 736,428
Performance Rights respectively under the Company's Performance
Rights Plan, being direct beneficial in nature. The performance
rights were granted off-market.
As detailed in the notice of meeting for the AGM, the total
Performance Rights issued have been determined by dividing
ZAR5,339,417 and ZAR4,293,375 (representing the value of the
performance rights granted for the 2019 financial year,
respectively) by the volume weighted average price of the shares of
the Company over the 30 trading days prior to the approval date of
the Performance Rights (R5.83).
The Performance Rights are granted as conditional awards over
ordinary shares of no par value for no consideration. The awards
will vest on 22 November 2022 subject to the vesting
conditions.
Current Shares and Performance Rights Held by Executive
Directors:
In addition to the above Performance Rights Mr Brown holds
41,250 ordinary shares in the Company which represents 0.03% of the
Company's issued share capital. He also holds 625,612 and 878,287
Performance Rights issued in 2017 and 2018 which will vest on 24
November 2020 and 23 November 2021 respectively, subject to the
vesting conditions.
Other than the Performance Rights issued above, Ms Berlin holds
635,347 Performance Rights issued in 2018 which will vest on 23
November 2021. Ms Berlin holds no ordinary shares in the
Company.
AUTHORISED BY:
Tony Bevan
For more information contact:
David Brown Chief Executive Officer MC Mining Limited +27 10 003 8000
Brenda Berlin Chief Financial Officer MC Mining Limited +27 10 003 8000
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
Financial PR
Jos Simson/ Gareth Tredway (United Kingdom) Tavistock +44 20 7920 3150
Ross Allister/Richard
Crichton/James Bavister Nominated Adviser and Broker Peel Hunt LLP +44 20 7418 8900
Charmane Russell/Olwen Auret Financial PR (South Africa) R&A Strategic Communications +27 11 880 3924
Investec Bank Limited is the nominated JSE Sponsor
About MC Mining Limited:
MC Mining is an AIM/ASX/JSE listed coal exploration, development
and mining company operating in South Africa. MC Mining's key
projects include the Uitkomst Colliery (metallurgical coal),
Makhado Project (hard coking coal), Vele Colliery (coking and
thermal coal), and the Greater Soutpansberg Projects.
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 David Hugh Brown
----------------------- -----------------------------------------------
2. Reason for the notification
------------------------------------------------------------------------
a. Position/status Chief Executive Officer
----------------------- -----------------------------------------------
b. Initial notification Initial Notification
/Amendment
----------------------- -----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a. Name MC Mining Limited
----------------------- -----------------------------------------------
b. LEI 213800G6YDVUTU9NEP37
----------------------- -----------------------------------------------
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 Performance Rights issued have been determined
of the by dividing ZAR5,339,417 (representing the
Financial instrument, value of the performance rights granted
type for the 2019 financial year) by the volume
of instrument weighted average price of the Shares of
Identification the Company over the 30 trading days prior
code to the date of approval of the Performance
Rights.
The Performance Rights have a three year
vesting period.
----------------------- -----------------------------------------------
b. Nature of the Share Grant according to Employee scheme
transaction
----------------------- -----------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) Nil 915,852
----------
----------------------- -----------------------------------------------
d. Aggregated 915,852 at nil value.
information
-- Aggregated
volume
-- Price
----------------------- -----------------------------------------------
e. Date of the 17 December 2019
transaction
----------------------- -----------------------------------------------
f. Place of the Outside of a trading venue
transaction
----------------------- -----------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Brenda Berlin
----------------------- -----------------------------------------------
2. Reason for the notification
------------------------------------------------------------------------
a. Position/status Chief Financial Officer
----------------------- -----------------------------------------------
b. Initial notification Initial Notification
/Amendment
----------------------- -----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a. Name MC Mining Limited
----------------------- -----------------------------------------------
b. LEI 213800G6YDVUTU9NEP37
----------------------- -----------------------------------------------
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 Performance Rights issued have been determined
of the by dividing ZAR4,293,375 (representing the
Financial instrument, value of the performance rights granted
type for the 2019 financial year) by the volume
of instrument weighted average price of the Shares of
Identification the Company over the 30 trading days prior
code to the date of approval of the Performance
Rights.
The Performance Rights have a three-year
vesting period.
----------------------- -----------------------------------------------
b. Nature of the Share Grant according to Employee scheme
transaction
----------------------- -----------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) Nil 736,428
----------
----------------------- -----------------------------------------------
d. Aggregated 736,428 at nil value.
information
-- Aggregated
volume
-- Price
----------------------- -----------------------------------------------
e. Date of the 17 December 2019
transaction
----------------------- -----------------------------------------------
f. Place of the Outside of a trading venue
transaction
----------------------- -----------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHGMMMZNRVGLZG
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