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MC MINING LIMITED - Grant of Performance Rights to Executive Directors

Release Date: 12/12/2018 09:00
Code(s): MCZ     PDF:  
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




                                                      

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