Client News
Bens Creek Group plc: Placing and Subscription to raise £6.0 millionBens Creek Group plc (AIM: BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, is pleased to announce that it has raised £6.0 million (before expenses) by way of:
· a placing of 9,999,998 new ordinary shares of 0.1p each in the capital of the Company (the “Placing Shares”), at a price of 30 pence per share (the “Issue Price”) raising c. £3.0 million (the “Placing”); and
· an issue of 10,000,002 new ordinary shares of 0.1p each in the capital of the Company (the “Subscription Shares”) at the Issue Price to certain investors, being MBU Capital Group Limited (“MBU”), Mohammed Iqbal (the beneficial
owner of MBU) and Bluestar Global Capital Limited (“Bluestar”), raising c. £3.0 million (the “Subscription”). The aggregate proceeds from the Subscription is made up of MBU (c.£500,000), Mohammed Iqbal (c.£1,000,000) and Bluestar
(£1,500,000).
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