Wrap Text
Grant of Performance Rights to Executive Directors
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
12 DECEMBER 2018
GRANT OF PERFORMANCE RIGHTS TO EXECUTIVE DIRECTORS
MC Mining Limited (the “Company") confirms the award of Performance Rights
under the Company’s Performance Rights Plan to executive directors, David
Brown and Brenda Berlin, following the approval of shareholders at the Annual
General Meeting of Shareholders (“AGM”) on 23 November 2018.
Following the approval of shareholders, David Brown, Chief Executive Officer
and Brenda Berlin, Chief Financial Officer, were granted a total of 878,287
Performance Rights and 635,347 Performance Rights respectively under the
Company’s Performance Rights Plan, being directly beneficial in nature. The
Performance Rights were granted off-market.
As detailed in the notice of meeting for the AGM, the total Performance
Rights issued have been determined by dividing ZAR5,183,900 and ZAR3,750,000
(representing the value of the Performance Rights granted for the 2018
financial year, respectively) by the volume weighted average price of the
shares of the Company over the five trading days prior to the approval date
of the Performance Rights (ZAR5.9023 per share).
The Performance Rights are granted as conditional awards over ordinary shares
of no par value for no consideration. The awards will vest on 23 November
2021 subject to the vesting conditions.
Current Shares and Performance Rights Held by Executive Directors:
In addition to the above Performance Rights Mr Brown holds 41,250 ordinary
shares in the Company which represents 0.03% of the Company’s issued share
capital. He also holds 562,747 and 625,612 Performance Rights issued in 2016
and 2017 which will vest on 13 December 2019 and 24 November 2020 respectively
subject to the vesting conditions.
Other than the Performance Rights issued above, Ms Berlin holds no ordinary
shares or Performance Rights.
AUTHORISED BY:
Tony Bevan
Company Secretary
For more information contact:
David Brown Chief Executive MC Mining Limited +27 10 003 8000
Officer
Brenda Berlin Chief Financial MC Mining Limited +27 10 003 8000
Officer
Tony Bevan Company Secretary Endeavour Corporate +61 08 9316
Services 9100
Company advisors:
Jos Simson/ Gareth Financial PR Tavistock +44 20 7920
Tredway (United Kingdom) 3150
Ross Allister/Richard Nominated Adviser Peel Hunt LLP +44 20 7418
Crichton/James and Broker 8900
Bavister
Charmane Russell/Olwen Financial PR R&A Strategic +27 11 880 3924
Auret (South Africa) Communications
Investec Bank Limited is the nominated JSE Sponsor
About MC Mining Limited:
MC Mining is an AIM/ASX/JSE listed coal exploration, development and mining company
operating in South Africa. MCM’s key projects include the Uitkomst Colliery
(metallurgical coal), Makhado Project (coking and thermal coal). Vele Colliery (coking
and thermal coal), and the Greater Soutpansberg Projects (MbeuYashu).
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 David Hugh Brown
2. Reason for the notification
a. Position/status Chief Executive Officer
b. Initial Initial Notification
notification
/Amendment
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 Performance Rights issued have been determined by
the dividing ZAR5,183,900 (representing the value of
Financial the performance rights granted for the 2018
instrument, type financial year) by the volume weighted average
of instrument price of the Shares of the Company over the 5
Identification trading days prior to the date of approval of the
code Performance Rights.
The Performance Rights have a three-year vesting
period.
b. Nature of the Share Grant according to Employee scheme
transaction
c. Price(s) and Price(s) Volume(s)
volume(s)
Nil 878,287
d. Aggregated 878,287 at nil value.
information
· Aggregated
volume
· Price
e. Date of the 12 December 2018
transaction
f. Place of the Outside of a trading venue
transaction
1. Details of the person discharging managerial responsibilities / person
closely associated
a. Name Brenda Berlin
2. Reason for the notification
a. Position/status Chief Financial Officer
b. Initial Initial Notification
notification
/Amendment
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 Performance Rights issued have been determined by
the dividing ZAR3,750,000 (representing the value of
Financial the performance rights granted for the 2018
instrument, type financial year) by the volume weighted average
of instrument price of the Shares of the Company over the 5
Identification trading days prior to the date of approval of the
code Performance Rights.
The Performance Rights have a three-year vesting
period.
b. Nature of the Share Grant according to Employee scheme
transaction
c. Price(s) and Price(s) Volume(s)
volume(s)
Nil 635,347
d. Aggregated 637,347 at nil value.
information
· Aggregated
volume
· Price
e. Date of the 12 December 2018
transaction
f. Place of the Outside of a trading venue
transaction
Date: 12/12/2018 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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