Bens Creek Group PLC Update on the Group's Chapter 11 process

RNS Number : 5904M

Bens Creek Group PLC

30 April 2024

 

30 April 2024

Bens Creek Group plc
("Bens Creek", the "Company" or the "Group")

 

Update on the Group's Chapter 11 process (the "Chapter 11 Process")

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that the preliminary court hearing, scheduled to be held in West Virginia yesterday to consider, inter alia, the term sheet for a $14.5 million debtor-in-possession financing facility from Avani Resources Pte Ltd, was adjourned until 8 May 2024 at the request of the Company's US legal counsel. 

 

The request was as a result of the court receiving a second debtor-in-possession finance offer. The adjournment will allow the court time to consider both debtor-in-possession financing proposals.

 

Further announcements will be made by the Company as appropriate.

 

For further information please contact:

Bens Creek Group plc                                                                                            [phone]
Adam Wilson, CEO
Peter Shea, Chief of Staff

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)                 [phone]
Nick Athanas / Nick Naylor / George Payne (Corporate Finance)
Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)

 

WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell                                                                                  [phone]

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