ANNOUNCEMENT 17 January 2022
GRANT OF PERFORMANCE RIGHTS TO DIRECTORS
MC Mining Limited (the "Company") confirms the award of Performance Rights under the Company's Performance Rights Plan to the directors following the approval of shareholders at the Annual General Meeting of Shareholders on 14 December 2021 ("AGM").
All seven directors (being Bernard Pryor, Andrew Mifflin, An Chee Sin, Junchao Liu, Khomotso Mosehla, Brian He Zhen and Sebastiano Randazzo) were each granted 1,000,000 Incentive Performance Rights under the Company's Performance Rights Plan. The Performance Rights are granted as conditional awards over ordinary shares of no par value for no consideration. The awards will vest on 30 June 2022 subject to the relevant vesting conditions.
Sebastiano Randazzo, the Company's executive director, was granted a further 3,871,406 Performance Rights under the Company's Performance Rights Plan As detailed in the notice of meeting for the AGM, the 3,871,406 Performance Rights granted was determined by dividing ZAR4,780,800 (representing the value of the performance rights granted for the 2021 financial year, being 83% of Mr Randazzo's fixed remuneration) by the volume weighted average price of the shares of the Company over the 30 trading days prior to the approval date of the Performance Rights, being R1.2349. The Performance Rights are granted as conditional awards over ordinary shares of no par value for no consideration. The awards will vest on 31 December 2022 subject to the relevant vesting conditions.
Current Shares and Performance Rights Held by Directors:
Other than the Performance Rights issued above, Mr Pryor holds 7,500 ordinary shares in the Company, which represents 0.005% of the Company's issued share capital. No other Director previously held any Performance Rights or ordinary shares.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
This announcement has been approved by the Company's Disclosure Committee.
ASX: MCM / AIM: MCM.L / JSE: MCZ
| For more information contact: |
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| Sam Randazzo | Interim Chief Executive Officer | MC Mining Limited | +61 408 945010 | |
| Tony Bevan | Company Secretary | Endeavour Corporate Services | +618 9316 9100 | |
| Company advisors: |
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| James Harris / James Dance | Nominated Adviser | Strand Hanson Limited
| +44 20 7409 3494 | |
| Rory Scott | Broker (AIM) | Tennyson Securities | +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).
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Bernard Pryor | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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, type of instrument Identification code | Performance Rights
| ||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
| N/A, single transaction | ||||
| e. | Date of the transaction | 10 January 2022 | ||||
| f. | Place of the transaction | Outside of a trading venue | ||||
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Andrew Mifflin | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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, type of instrument Identification code | Performance Rights
| ||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
| N/A, single transaction | ||||
| e. | Date of the transaction | 10 January 2022 | ||||
| f. | Place of the transaction | Outside of a trading venue | ||||
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | An Chee Sin | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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, type of instrument Identification code | Performance Rights
| ||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
| N/A, single transaction | ||||
| e. | Date of the transaction | 10 January 2022 | ||||
| f. | Place of the transaction | Outside of a trading venue | ||||
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Junchao Liu | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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, type of instrument Identification code | Performance Rights
| ||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
| N/A, single transaction | ||||
| e. | Date of the transaction | 10 January 2022 | ||||
| f. | Place of the transaction | Outside of a trading venue | ||||
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Khomotso Mosehla | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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, type of instrument Identification code | Performance Rights
| ||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
| N/A, single transaction | ||||
| e. | Date of the transaction | 10 January 2022 | ||||
| f. | Place of the transaction | Outside of a trading venue | ||||
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Brian He Zhen | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 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, type of instrument Identification code | Performance Rights
| ||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
| N/A, single transaction | ||||
| e. | Date of the transaction | 10 January 2022 | ||||
| f. | Place of the transaction | Outside of a trading venue | ||||
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a. | Name | Sebastiano Randazzo | ||||||
| 2. | Reason for the notification | |||||||
| a. | Position/status | Executive 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, type of instrument Identification code | Performance Rights
| ||||||
| b. | Nature of the transaction | Share Grant according to Employee scheme
| ||||||
| c. | Price(s) and volume(s) |
| ||||||
| d. | Aggregated information · Aggregated volume · Price
| 4,871,406 at nil value. | ||||||
| e. | Date of the transaction | 10 January 2022 | ||||||
| f. | Place of the transaction | Outside of a trading venue | ||||||
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