Bens Creek Group plc (AIM: BEN), the firm that owns a metallurgical coal mine supplying the steel industry in North America, has announced that its Chief Financial Officer (CFO), Murat Erden, has expressed his inability to continue his role due to the impact of two earthquakes and their aftershocks that have severely affected his hometown in Turkey.
Murat has conveyed to the company that he will not be able to fulfil the time commitment required to perform his duties as CFO and a senior management team member of Bens Creek.
The Company has shown sympathy towards Murat’s situation and has mutually agreed with him that his contract will come to an end on 12 July 2023, which marks his one-year anniversary of joining the company. Bens Creek will provide Murat with its complete support in his decision to take time off. Murat has also given assurance to the company that he will be available until mid-July 2023 if his assistance is required.
Murat Erden has been actively contributing time and money to the rescue fund aimed at assisting the affected families. In a show of solidarity, Bens Creek has also made a donation to the cause. The Company stands by Murat and his family in these difficult times.
On 29 December 2022, Bens Creek had announced that it granted Murat Erden 1,000,000 options over ordinary shares. As per the agreement with Murat, the Company has decided to change the date when these options can be exercised from 12 July 2023 to 9 March 2023. The remaining terms of the options are unchanged from the announcement made on 29 December 2022.
Murat has left the Group’s finance function in an excellent state; he has significantly improved the Group’s processes, particularly in the development of the Company’s ESG strategy. He has also supervised the release of the Company’s last interim financial statements and organized equipment financing.
Arondeep Binnig, the Company’s financial controller, will take over the day-to-day responsibilities of the Company’s finance function, and he will be supported by a team of fully qualified professionals. The Company plans to commence the search for a new Chief Financial Officer, and further details will be provided when appropriate.
Adam Wilson, the CEO of Bens Creek, expressed gratitude towards Murat for his contribution to the company’s growth. Wilson also conveyed his deep sadness towards the events that occurred in Murat’s hometown in Turkey. Furthermore, Wilson stated that Bens Creek stands in complete support of Murat and his endeavours to make a positive impact through relief programs.
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