- Bowen Coking Coal (BCB) has raised $900,000 in proceeds after exercising options which were due to expire
- 30 million options have been exercised, with one BCB’s Director’s using the opportunity to top up their stake in the business
- Non-Executive Director Nick Jorss exercised $550,000 worth of options, taking his holding in the company to 6.5 per cent
- Bowen’s MD has labelled the investment as a “significant investment” as well as a “meaningful endorsement”
- Shares in BCB have ended Tuesday down 8.7 per cent trading at 4.2 cents each
Bowen Coking Coal (BCB) has added an additional $900,000 to its bottom line after exercising options which were due to expire.
The money is from the proceeds from the 30 million BCB options which had a December 12, 2020 expiry date.
Of the options exercised, around two-thirds of them were bought by one of Bowen’s Directors.
Non-Executive Director Nick Jorss exercised $550,000 worth of options, increasing his overall holding in the company to 6.5 per cent.
Commenting on the investment, Nick stated he was excited to invest in BCB and its “terrific portfolio of coking coal asset”.
“The team is working well together and has achieved notable early success as we look to build the next significant Bowen Basin coking coal producer, which is our very clear goal,” he said.
Additionally, BCB Managing Director Gerhard Redelinghuys labelled the investment as a “significant investment” as well as a “meaningful endorsement”.
“We are grateful to have Nick as a Non-Executive Director of Bowen, given his enviable track record with Stanmore and we are even more grateful that Nick has decided to make another significant investment in the company,” he said.
Bowen Coking Coal has ended Tuesday’s session down 8.7 per cent at 4.2 cents each.