| Fri 27 Oct 2023, 11:30 | | MC MINING LIMITED - Issue of Equity |
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Issue of Equity
MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM
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:
Tony Bevan Company Secretary Endeavour Corporate +61 8 9316 9100
Services
Richard Johnson / Rob Nominated Adviser Strand Hanson Limited +44 20 7409 3494
Patrick
Rory Scott Broker (AIM) Tennyson Securities +44 20 7186 9031
Marion Brower Financial PR (SA) R&A Strategic +27 11 880 3924
Communications
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 instrument, Ordinary Shares
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
Date: 27-10-2023 11:30:00
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