Share Name Share Symbol Market Type Share ISIN Share Description
Bens Creek Group Plc LSE:BEN London Ordinary Share GB00BP814F22 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75 -3.12% 23.25 23.00 23.50 24.00 23.25 24.00 329,476 14:00:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining - - - - 82

Bens Creek Share Discussion Threads

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shorts burning as the USA powers back....will not be long here

The Modeller
10 Nov '22 - 14:42 - 7874 of 7877
0 0 0
If MBU haven t defaulted Bluestar can t call in the shares and sell them; furthermore if a notifiable volume was sold to an SPV(s) they would still be subject to a TR1.

So much speculation. And yet no one know anything. Makes it ever more interesting.
A potential suitor tried to buy in to PET, a couple of years ago.
PET issued them shares, which they duly used as security on the loan they had taken out to buy in!
The Security holder then started forward selling the shares causing them to crash back down spectacularly...

Never say never in the murky world of AIM.

It is up to Adam to get to grips with this situation, and reassure the markets this is not happening.

If MBU haven t defaulted Bluestar can t call in the shares and sell them; furthermore if a notifiable volume was sold to an SPV(s) they would still be subject to a TR1.
the modeller
Ianio. Bluestar could easily have placed ownership of their 22m shares in say three companies so all less than 3%. That way they could sell with no TR1. I fully agree that the seller has been doing so for months and the ONLY source of those shares were the 22m converted at 10p on admission.

So, yes, Bluestar but via a Seperate company. I have posted this before.

Could Bluestar be our continual background seller?
Clearly someone with a big holding, as its now into many millions and been going on for months.
Why no TR1 to confirm who it is?
Or are BEN 'not aware' of this as well?

Cjohn. Bluestar were the “other lenders” who provided the short and longer term loans to set up BEN and we issued shares at 10p on admission. They got many millions. Maybe about 22m. They joined Storey in the panic sale when the first dud RNS appeared. Bluestar and Iqbal are tied together but I bet are at loggerheads now. I bet Bluestar are desperate to get out a.s.a.p. I also bet MBU have already defaulted. Every loan they have is in default. Bit a matter of not if but when or already.
Hi Patt,

If MBU defaults, then the ball's in Blue Star's court. That's for sure!

I've done some investigation on Blue Star. Nothing worth reporting back on.

Clearly, Blue Star think BEN shares are worthy security: though another possibility is that's all MBU have to offer. Still given that Blue Star already own several percent of BEN, we can assume they're not unhappy.

we do get it Patt there is and has been for a while a situation where all shareholders can sell subject to a soft lock in

rightly or wrongly the significant shareholders belive the company to be undervalues

Under common law MBU are the legal owners, due transfer of ownership would be required or MBU would have to sell the shares they are the legal owner as far as Crest are concerned.

Or a court order would have to enforce it. (triggering an RNS)

But MBU have not defaulted on their debenture yet as far as I know and neither party have sold a single share yet.

If anything it is a conviction by Blue Star Capital and MBU that the company is significantly undervalued

But I would say that and you would disagree

plus ça change, plus c'est la même chose

as with all your posts come to think of it.

Cjohn. There may not be a new majority shareholder. The CREST agreement allows Bluestar to simply sell whatever number of shares they need in the open market, not take them to own and hold. The key point though is that all decisions are out of MBU hands.

Agreed I have already said Patt was right on that specific issue only (both times).


Your first sentence is spot on, seagreen: I mean of your one but last post: the make up of the shareholder register and the company's economic value are totally different considerations.

If MBU are unable to repay what they owe Bluestar, there will be a new majority shareholder at BEN.

We have no idea currently what their intentions would be in that circumstance.

PATT rightly drew attention to the end of lock in; I for one would be quite happy to see the back of MBU.

Patt I am totally aware of the softlock in, I did not want to over complicate.

The only sensible way anyone can sell volume is by finding a new strategic partner or via a block sale.

To date no one has sold any shares since the softlock came into play as you would have seen a RNS.

The make up of the shareholder register has nothing to do with the underlying business or the value of it.

It does give the shorters or bashers an excuse to spread fear and cause volatility for sure and well played them (look at THG where the idiots at softbank over traded and were forced out)

If you believe that metcoal is still a key strategic commodity and has a good chance of remaining strong all be it unpalitable for the green lobby then the mkt cap may be trading at significantly lower than the NAV of the underlying infrastructure and asset.

Sadly there is currently no other way of making steel in commercial quanties as all the large steel manufacturers are set up to use met coal. It will take 10/20/30 years to change that.

I see a start up that suffered from numerous unforseen bottleneck covid delays beyond their control who were wildly over optimistic with the quality of the infrastructure they bought and their pr timing projections on progress.

I believe it may take time but they appear to be finally be making real progress all be it a year late in delivering.

But they are going to have to work dam hard to win back positive market sentiment

A new strategic investor would do that overnight but first they need to prove to everyone they can really achieve significant production levels and they are and have been genuinely increasing levels of production.

It does not matter what Patt or I think, the ball is in their court to win back confidence.

In the mean time John storey is sailing around the Mediterranean ....Watching and eating Sunday roast !!!
Seagreen. You are wrong again.

The first persons who were securely locked in for the first year still have soft lock-in for year two. That includes MBU and insiders like Raju. This means that they can only sell via Optiva and without impacting the market (ie dropping it). So nearly all the locked in shares remain restricted. So no handcuffs removed.

However, the MBU shares are now allowed to be secured against in year two and if they are seized by Bluestar there is no restriction to selling.

You were correct about MBU & Bluestar, purchaseatthetop and the BEN charts have been vindicated.
Sub 20p has been an share price target for a long time.


I had no idea he was 100 appologies.

Patt my argument with you is that you have made and make up operational and financial forecasts without proof on many stocks.

You were (as I said at the time after the RNS) correct on the first debenture issue and you are correct on the recent debenture issue (just said but I never said you were wrong, the RNS confirms it).

Anyone has been free to sell any share since the handcuffs were off last month.

I do not really care who sells or buys.

SeaWhy is he acting like a five year old . He is 100 correct or have you been going around with your eyes shut . Of all the corruption on AIM in last year . CEOs telling lies nearly every week now . Companies Gojng bust or ready to go . Nothing ever done total con
amaretto1 calm down you are acting like a 5 year old.
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