MC Mining Limited Issue of Shares Under the Performance Rights Plan (9166U)

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RNS Number : 9166U

MC Mining Limited

31 March 2023

ANNOUNCEMENT 31 March 2023

ISSUE OF SHARES UNDER THE PERFORMANCE RIGHTS PLAN

MC Mining Limited (MC Mining or the Company) announces the issue of 1,983,613 new ordinary shares of no par value in the Company's capital (Ordinary Shares) subsequent to the receipt of South African regulatory approval for the issue of the new Ordinary Shares. The new Ordinary Shares have been issued following the vesting, on the commissioning of the Vele Colliery coal processing plant in December 2022, of 1,602,393 special incentive performance rights. The remaining 381,220 new Ordinary Shares have been issued following satisfaction of the vesting conditions for performance rights granted to management in November 2019.

Certain of the Ordinary Shares have been issued to the following non-Board persons discharging managerial responsibilities (PDMRs):

 
 PDMR              New Ordinary 
                      Shares 
 Stephen Rowse       288,847 
                  ------------- 
 Florence Duval      557,688 
                  -------------

Admission and Total Voting Rights

A pplication has been made for the new Ordinary Shares to be admitted to trading on the ASX, AIM and JSE markets ( Admission ). Admission of the new Ordinary Shares to trading on AIM is expected to become effective at 8:00 a.m. on or around 3 April 2023 and on the JSE on or around 9:00 a.m. on 3 April 2023, and the new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

On Admission, MC Mining's issued share capital shall comprise 399,665,202 Ordinary Shares. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the ASX Listing Rules or the FCA's Disclosure Guidance and Transparency Rules.

For and on behalf of

MC Mining

Tony Bevan

Company Secretary

For more information contact:

 
                                        Endeavour Corporate 
 Tony Bevan        Company Secretary     Services                         +61 08 9316 9100 
----------------  -------------------  -------------------------------  ------------------ 
 James Harris 
  / James Dance    Nominated Adviser     Strand Hanson Limited           +44 20 7409 3494 
----------------  -------------------  -------------------------------  ------------------ 
 Rory Scott        Broker (AIM)          Tennyson Securities              +44 20 7186 9031 
----------------  -------------------  -------------------------------  ------------------ 
                   Financial PR 
  Marion Brower     (SA)                 R&A Strategic Communications     +27 11 880 3924 
----------------  -------------------  -------------------------------  ------------------ 
 BSM Sponsors Proprietary Limited is the nominated JSE Sponsor 
------------------------------------------------------------------------------------------

About MC Mining

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).

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                                   1. Stephen Rowse 
                                              2. Florence Duval 
     --------------------------------  ------------------------------------------ 
 2.   Reason for the Notification 
     ---------------------------------------------------------------------------- 
 a)   Position/status                        1. PDMR (non-Board) 
                                              2. PDMR (non-Board) 
     --------------------------------  ------------------------------------------ 
 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 Limit ed 
     --------------------------------  ------------------------------------------ 
 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         Issue of vested Performance Rights shares 
     --------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)             Price(s)   Volume(s) 
                                          -          1. 288,847 
                                           -          2. 557,688 
                                                    ------------ 
     --------------------------------  ------------------------------------------ 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  ------------------------------------------ 
 e)   Date of the transaction           3 1 March 2023 
     --------------------------------  ------------------------------------------ 
 f)   Place of the transaction          ASX 
     --------------------------------  ------------------------------------------

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