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MC Mining Limited announced on 6 April 2022 the issue of 38,363,909 new ordinary shares to Senosi Group Investment Holdings Proprietary Limited (SGIH), converting SGIH's loan under the First Tranche Funding after South African Reserve Bank approval. Application has been made for these shares to be admitted to trading on the ASX, AIM, and JSE, with AIM admission expected around 11 April 2022. Upon admission, MC Mining's issued share capital will comprise 192,783,464 Ordinary Shares, and SGIH will hold a 19.9% interest.
| Date | 6 Apr 2022 |
| Time | 16:18:05 |
| Category | Capital structure |
| ID | 5292H |
ANNOUNCEMENT 6 April 2022
ISSUE OF FIRST TRANCHE FUNDING SHARES AND TOTAL VOTING RIGHTS
MC Mining Limited (MC Mining or the Company) announces that, further to its announcement of 1 February 2022, South African Reserve Bank approval has been obtained and therefore 38,363,909 new ordinary shares of no par value in the Company's capital (Ordinary Shares) have been issued to Senosi Group Investment Holdings Proprietary Limited (SGIH), pursuant to the conversion of its loan under the First Tranche Funding.
Admission and Total Voting Rights
Application has been made for the First Tranche Shares to be admitted to trading on the ASX, AIM and JSE markets (Admission). Admission of the First Tranche Shares to trading on AIM is expected to only become effective at 8:00 a.m. on or around 11 April 2022, and the shares will rank pari passu with the Company's existing Ordinary Shares.
On Admission, MC Mining's issued share capital shall comprise 192,783,464 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.
On Admission, SGIH will have a 19.9% interest in the Company's issued share capital.
Unless otherwise defined, terms used in this announcement shall have the same meanings as those set out in the Company's announcement of 1 February 2022.
Authorised by
Tony Bevan
Company Secretary
This announcement has been approved by the Company's Disclosure Committee.
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For more information contact: |
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Sam Randazzo |
Interim CEO |
MC Mining Limited |
+61 408 945010 |
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Tony Bevan |
Company Secretary |
Endeavour Corporate Services |
+61 08 9316 9100 |
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Company advisors: |
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James Harris / James Dance |
Nominated Adviser |
Strand Hanson Limited
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+44 20 7409 3494 |
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Rory Scott |
Broker (AIM) |
Tennyson Securities Limited |
+44 20 7186 9031 |
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James Duncan |
Financial PR (South Africa) |
R&A Strategic Communications |
+27 11 880 3924 |
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Investec Bank Limited is the nominated JSE Sponsor |
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About MC Mining Limited:
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).
Statements of intention
Statements of intention are statements of current intentions only, which may change as new information becomes available or circumstances change.