TIDMMCM
RNS Number : 3091N
MC Mining Limited
19 January 2023
ANNOUNCEMENT 19 January 2023
GRANT OF OPTIONS AND PERFORMANCE RIGHTS TO DIRECTORS
MC Mining Limited (the Company) confirms the award of
Performance Rights under the Company's Performance Rights Plan to
Non-Executive Directors and options to the Executive Director,
following the approval of shareholders at the Annual General
Meeting of shareholders on 30 November 2022 (AGM).
In terms of the shareholder approval, all seven Non-Executive
Directors, being Nhlanhla Nene, Ontiretse Senosi, Andrew Mifflin,
An Chee Sin, Liu Junchao, Khomotso Mosehla, and He Zhen have today
each been granted 1,000,000 Performance Rights under the Company's
Performance Rights Plan. The Performance Rights are awarded as
conditional grants over ordinary shares of no par value (Ordinary
Shares) for no consideration. The Performance Rights will vest on
30 June 2023 subject to the relevant vesting conditions being
satisfied, namely that the remaining development and working
capital funding for the Makhado hard coking coal project has been
secured.
The award of 12,000,000 options over Ordinary Share in terms of
Godfrey Gomwe's letter of appointment as the Company's Managing
Director and Chief Executive Officer, was subsequently approved by
shareholders at the AGM. As detailed in the Notice of Meeting for
the AGM, the options vest in three equal tranches of 4,000,000
options each, exercisable for nil consideration, provided that Mr
Gomwe is still employed, and the 30-day VWAP of per Ordinary Share
on the JSE meets the required condition for each relevant tranche
on 30 June 2023, 30 June 2024 and 30 June 2025 (being ZAR1.89,
ZAR3.22 and ZAR4.55, respectively). The options will expire on 30
November 2027.
Directors' Interests
In addition to the options and Performance Rights issued per
this announcement, Mr Ontiretse Senosi indirectly holds 95,357,455
Ordinary Shares and Mr Brian Zhen He indirectly holds 264,845
Ordinary shares, which represent 24.0% and 0.1%, respectively, of
the Company's issued share capital.
Save for the awards detailed and interests noted in this
announcement, no other Director holds any options,
Performance Rights or Ordinary Shares. The Performance Rights
granted to the Directors on 17 January 2022, following shareholder
approval at the 2021 annual general meeting, did not meet the
vesting conditions and have now lapsed.
The notification below, made in accordance with the requirements
of the Market Abuse Regulation, provides further detail.
This announcement has been approved by the Company's Disclosure
Committee.
For more information contact:
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
James Harris / James
Dance Nominated Adviser Strand Hanson Limited +44 20 7409 3494
Rory Scott Broker (AIM) Tennyson Securities +44 20 7186 9031
Marion Brower 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 and thermal
coal), Makhado Project (hard coking coal), Vele Colliery (semi-soft
coking and thermal coal), and the Greater Soutpansberg Projects
(coking and thermal coal).
A copy of this announcement is available on the Company's
website, www.mcmining.co.za .
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 Nhlanhla Nene
---------------------------------- ----------------------------
2. Reason for the Notification
----------------------------------------------------------------
a) Position/status Chairman
---------------------------------- ----------------------------
b) Initial notification/amendment Initial notification
---------------------------------- ----------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
---------------------------------- ----------------------------
Identification code AU000000MCM9
---------------------------------- ----------------------------
b) Nature of the Transaction Grant of Performance Rights
---------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
---------------------------------- ----------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
---------------------------------- ----------------------------
e) Date of the transaction 19 January 2023
---------------------------------- ----------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------- ----------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ontiretse Senosi
---------------------------------- ----------------------------
2. Reason for the Notification
----------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------------- ----------------------------
b) Initial notification/amendment Initial notification
---------------------------------- ----------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
---------------------------------- ----------------------------
Identification code AU000000MCM9
---------------------------------- ----------------------------
b) Nature of the Transaction Grant of Performance Rights
---------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
---------------------------------- ----------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
---------------------------------- ----------------------------
e) Date of the transaction 19 January 2023
---------------------------------- ----------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------- ----------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Mifflin
-------------------------------- -----------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status Independent Non-Executive Director
-------------------------------- -----------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
-------------------------------- -----------------------------------
Identification code AU000000MCM9
-------------------------------- -----------------------------------
b) Nature of the Transaction Grant of Performance Rights
-------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
-------------------------------- -----------------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
-------------------------------- -----------------------------------
e) Date of the transaction 19 January 2023
-------------------------------- -----------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- -----------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name An Chee Sin
---------------------------------- ----------------------------
2. Reason for the Notification
----------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------------- ----------------------------
b) Initial notification/amendment Initial notification
---------------------------------- ----------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
---------------------------------- ----------------------------
Identification code AU000000MCM9
---------------------------------- ----------------------------
b) Nature of the Transaction Grant of Performance Rights
---------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
---------------------------------- ----------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
---------------------------------- ----------------------------
e) Date of the transaction 19 January 2023
---------------------------------- ----------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------- ----------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Liu Junchao
---------------------------------- ----------------------------
2. Reason for the Notification
----------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------------- ----------------------------
b) Initial notification/amendment Initial notification
---------------------------------- ----------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
---------------------------------- ----------------------------
Identification code AU000000MCM9
---------------------------------- ----------------------------
b) Nature of the Transaction Grant of Performance Rights
---------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
---------------------------------- ----------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
---------------------------------- ----------------------------
e) Date of the transaction 19 January 2023
---------------------------------- ----------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------- ----------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Khomotso Mosehla
-------------------------------- -----------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position/status Independent Non-Executive Director
-------------------------------- -----------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
-------------------------------- -----------------------------------
Identification code AU000000MCM9
-------------------------------- -----------------------------------
b) Nature of the Transaction Grant of Performance Rights
-------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
-------------------------------- -----------------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
-------------------------------- -----------------------------------
e) Date of the transaction 19 January 2023
-------------------------------- -----------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- -----------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name He Zhen
---------------------------------- ----------------------------
2. Reason for the Notification
----------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------------- ----------------------------
b) Initial notification/amendment Initial notification
---------------------------------- ----------------------------
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 of the Financial Ordinary Shares
instrument, type of instrument
---------------------------------- ----------------------------
Identification code AU000000MCM9
---------------------------------- ----------------------------
b) Nature of the Transaction Grant of Performance Rights
---------------------------------- ----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,000,000
---------------------------------- ----------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
---------------------------------- ----------------------------
e) Date of the transaction 19 January 2023
---------------------------------- ----------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------- ----------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Godfrey Gomwe
--------------------------------- -----------------------------
2. Reason for the Notification
----------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- -----------------------------
b) Initial notification/amendment Initial notification
--------------------------------- -----------------------------
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 of the Financial Options over Ordinary Shares
instrument, type of instrument
--------------------------------- -----------------------------
Identification code AU000000MCM9
--------------------------------- -----------------------------
b) Nature of the Transaction Grant of Performance Rights
--------------------------------- -----------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 12,000,000
--------------------------------- -----------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
--------------------------------- -----------------------------
e) Date of the transaction 19 January 2023
--------------------------------- -----------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------- -----------------------------
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END
DSHKZGMMFLNGFZM
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January 19, 2023 09:15 ET (14:15 GMT)
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