MC Mining Limited Issue of Equity (5613R)
October 27 2023 - 5:30AM
UK Regulatory
TIDMMCM
RNS Number : 5613R
MC Mining Limited
27 October 2023
ANNOUNCEMENT 27 October 2023
ISSUE OF EQUITY
MC Mining Limited (MC Mining or the Company) announces an issue
of equity to its Managing Director & Chief Executive Officer
(CEO), Mr Godfrey Gomwe, as part of his remuneration package and a
number of other senior employees, under the terms of the Company's
shareholder approved Performance Rights Scheme.
Managing Director & CEO Shares
The Company has issued 4,000,000 new ordinary shares of no par
value in the Company's capital (Ordinary Shares) to the CEO (the
CEO Shares), following the vesting of the first tranche of the
Engagement Share Options, awarded as part of his remuneration
package. The issue of the Engagement Share Options was approved by
shareholders at the Company's annual general meeting held on 30
November 2022. The issue of the CEO Shares does not require further
MC Mining shareholder approval or any other consents.
Performance Rights Shares
The Company also announces the issue of 4,225,542 new Ordinary
Shares following satisfaction of the vesting conditions for issued
performance rights to certain members of the Company's management
team (the Management Shares). The performance rights were granted
to certain members of the Company's management team in November
2020 and July 2022. The issue of 1,164,240 (of the 4,225,542)
Management Shares is subject to South African Reserve Bank
approval, which is anticipated to be received during November
2023.
Admission and Total Voting Rights
Application has been made for the 4,000,000 CEO Shares and the
3,061,302 Management Shares (which are not subject to South African
Reserve Bank approval) to be admitted to trading on the ASX, AIM
and JSE markets (Admission). Admission on AIM is expected to become
effective at 8.00 a.m. on or around 3 November 2023, and the shares
will rank pari passu with the Company's existing Ordinary
Shares.
On Admission, MC Mining's issued share capital shall comprise
406,726,504 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 and the FCA's Disclosure
Guidance and Transparency Rules.
A further announcement will be made in due course for the
application for admission to trading on the ASX, AIM and JSE
markets of remaining 1,164,240 Management Shares following receipt
of South African Reserve Bank approval.
Certain of the Management Shares have been issued to the
following non-Board persons discharging managerial responsibilities
(PDMRs):
PDMR New Ordinary
Shares
Stephen Rowse 598,101
-------------
Florence Duval 613,302
-------------
The notification below, made in accordance with the requirements
of the UK Market Abuse Regulation, provides further detail
regarding the transactions.
This announcement has been approved by the Board of the
Company.
For more information contact:
Endeavour Corporate
Tony Bevan Company Secretary Services +61 8 9316 9100
----------------- ------------------- ------------------------------- ------------------
Richard Johnson
/ Rob Patrick 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
3. Godfrey Gomwe
-------------------------------- --------------------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------------------
a) Position/status 1. PDMR (non-Board)
2. PDMR (non-Board)
3. Managing Director & CEO (Board 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 Issue of vested Performance Rights shares
-------------------------------- --------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
- 1. 598,101
- 2. 613,302
- 3. 4,000,000
--------------
-------------------------------- --------------------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- --------------------------------------------------
e) Date of the transaction 30 October 2023
-------------------------------- --------------------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- --------------------------------------------------
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END
IOEFEMSUWEDSESS
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