Client NewsBens Creek Group plc: Issue of equity
Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that it has issued 200,000 new ordinary shares of 0.1 pence each in the Company (the “Fee Shares”) to an adviser, in part settlement of an invoice for corporate Public Relations and Investor Services to be provided to the Company from 21 October 2021 through to 31 October 2022. The adviser has requested part payment in shares rather than cash, so as to better align their interest with the Group. The adviser has also agreed to a 12 month lock in on the Fee Shares. The Fee Shares will be issued at a price of 11.875 pence per ordinary share, which is the mid-market closing price for the ordinary shares of Bens Creek on 21 October 2021, the date upon which the adviser commenced providing services to the Company. The agreement was entered into by both parties on 11 November 2021.
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