NOTICE OF ANNUAL GENERAL MEETING CORRECTION

17 MAY 2019

Bisichi Mining PLC

Bisichi Mining PLC (‘the Company’) announces that the explanatory notes to resolutions 3 and 4 of the notice of Annual General Meeting set out in its Notice of Annual General Meeting (the ‘Notice’) to be held on 11 June 2019 contained a typographical error.

The explanatory notes to resolution 3 refers to the directors recommending a final dividend for the year ended 31 December 2018 of 3.0 pence per ordinary share due and payable on 26 July 2019 to the Shareholders on the register at close of business on 11 July 2019.

The note should refer to the directors recommending a final dividend for the year ended 31 December 2018 of 3.0 pence per ordinary share due and payable on 26 July 2019 to the Shareholders on the register at close of business on 5 July 2019.

The explanatory notes to resolution 4 refer to the directors recommending a special dividend for the year ended 31 December 2018 of 2.0 pence per ordinary share due and payable on 26 July 2019 to the Shareholders on the register at close of business on 11 July 2019.

The note should refer to the directors recommending a special dividend for the year ended 31 December 2018 of 2.0 pence per ordinary share due and payable on 26 July 2019 to the Shareholders on the register at close of business on 5 July 2019.

A copy of the amended Notice of Annual General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

Garrett Casey
Company Secretary
020 7415 5030

17 May 2019

ANNUAL REPORT AND NOTICE OF AGM

10 MAY 2019

Bisichi Mining PLC

Annual Report – year ended 31 December 2018 and Notice of Annual General Meeting – 11 June 2019.

This is to confirm that Bisichi Mining PLC has posted its Annual Report and Accounts for the year ended 31 December 2018, Notice of Annual General Meeting (to be held on 11 June 2019) and Form of Proxy to shareholders.

The document was published on the company’s website and a copy was posted to all shareholders who had requested a printed copy. A letter was sent to those shareholders who had consented to web publications to advise them that the document was now available on the company’s website.

A RNS announcement of the text of the Annual Report excluding the Notice of AGM and the proxy form was made on 29 April 2019.

Copies of the Annual Report may be obtained from the Company Secretary at the company’s registered office, 24 Bruton Place, London, W1J 6NE and is available for download from www.bisichi.co.uk

Copies of the above documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM

Garrett Casey

Company Secretary

020 7415 5030
10 May 2019

FOR IMMEDIATE RELEASE

15 November 2018

Bisichi Mining Plc (“Bisichi” or the “Company”)

Director/PDMR Shareholding

The Company has today been notified that on 12 September 2018,  Mrs Susan Heller, transferred 24,000 ordinary shares of 10 pence each in the Company (“Ordinary Shares”) into the Self Invested Personal Pension of Mr Andrew Robert Heller, a director of the Company, for a consideration of £1.00 per Ordinary Share (the “Transfer”).

Following the Transfer, Mr Heller’s beneficial holding remains unchanged at 785,012 Ordinary Shares representing 7.35 per cent. of the current issued share capital of the Company.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details of the Transfer.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mrs Susan Heller and Mr Andrew Heller

2

Reason for the notification

a)

Position/status

Mrs Susan Heller is the spouse of Mr Andrew Heller (director of the Company)

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Bisichi Mining Plc

b)

LEI

213800RRWN6ZBPW2ZV03

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 the financial instrument, type of instrument

Identification code

Ordinary shares of 10 pence each in the Company (“Ordinary Shares”)

GB0001012045

b)

Nature of the transaction

Transfer of Ordinary Shares from  Mrs Susan Heller  to the SIPP of Mr Andrew Heller

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£1.00 per share

24,000 Ordinary Shares

d)

Aggregated information

– Aggregated volume

– Price

N/A (single transaction)

e)

Date of the transaction

12/09/2018

f)

Place of the transaction

LSE

Contact: Garrett Casey, Company Secretary 020 7415 5030

24 August 2018

BISICHI MINING PLC

Interim Results for the period ended 30 June 2018

For the six months ending 30th June 2018:

EBITDA [1]: £5.2 million (2017: £1.4million)
Adjusted EBITDA [2]: £5.3million (2017: £1.4million)
Profit before tax £4.0million (2017: £0.2million)
EPS (basic): 22.25p (2017: 2.37p)
Total production: 670,000 tonnes (2017: 582,000 tonnes)
Results reflect the stable production and the infrastructure improvements to the coal washing plant at Black Wattle.
Physical demand for Black Wattle coal remains strong, impacting positively on prices achievable for its coal in the international and domestic market.
UK property portfolio performing well with no further news to report on West Ealing development.
END

For further information, please call:

Andrew Heller/Garrett Casey Bisichi Mining PLC 020 7415 5030

[1] Earnings before Interest, taxation, depreciation and amortisation.

[2] Operating profit before depreciation, fair value adjustments and exchange movements.

Bisichi Mining PLC

Half year review – 30 June 2018

We are very pleased to report that for the six month period ending on 30 June 2018, Bisichi Mining PLC achieved earnings before interest, tax, depreciation and amortisation of £5.2million (2017: £1.4 million).

During the first half of 2018, Black Wattle continued to benefit from the infrastructure improvements to the coal washing plant that were reported to shareholders in 2017. These improvements have enabled Black Wattle to deliver a higher rate of production from our opencast areas and achieve an increased overall yield compared to the first half of 2017. The mine’s total production was 670,000 metric tonnes (2017: 582,000 metric tonnes) during the period reported.

In terms of markets, a shortage of coal in the domestic market and a strong demand for coal in the international market have continued to impact positively on the prices achievable for our coal during the period. At the end of June 2018 the average weekly price of Free on Board (FOB) Coal from Richard Bay Coal Terminal (API4 price) reached levels of over US$105 per metric tonne, compared to US$95 at the end of 2017 and US$85 at the beginning of 2017. The higher coal prices, along with a stable Rand and improved production attributed to the increase in Group revenue compared to the same period last year.

Looking forward to the rest of this year, management will continue to focus on increasing our life of mine at Black Wattle, through the acquisition of additional coal reserves, as well as maintaining levels of production in order to benefit from the higher prices achievable for our coal.

In other news, and as reported to shareholders earlier this year, the Group has formed a joint venture to acquire the freehold of five shops and to develop flats in West Ealing, London. Bisichi and London & Associated Properties PLC, a 41.52% shareholder of Bisichi, each own 45% of the joint venture, with the remaining 10% owned by Metroprop Real Estate Ltd. The joint venture includes shops that produce a current rent of c£140,000 per annum and has planning consent for 20 flats at first and second floor which will be eligible for the UK Government Help to Buy Scheme. At present the Group has no further news to report on this exciting real estate transaction, however we look forward to updating shareholders as the development progresses.

Finally, the Company’s current UK retail property portfolio, which is managed by London & Associated Properties, continues to perform well with the group achieving revenue from our directly owned property portfolio of £0.55million (2017: £0.56million) during the period.

Your directors intend to pay an interim dividend of 1p per share which will be paid on the 8 February 2019, to shareholders on the register at the close of business on 4 January 2019.

On behalf of the Board we would like to thank all our staff for their hard work during the first six months of the year.

Sir Michael Heller Andrew Heller

Chairman Managing Director

23 August 2018

Bisichi Mining PLC

Consolidated income statement

For the six months ended 30 June 2018

Unaudited Unaudited Audited
6 months ended 6 months ended Year ended
30 June 30 June 31 December
2018 2017 2017
Notes £000 £000 £000
Group revenue 1 23,407 16,732 37,459
Operating costs (19,218) (16,283) (33,686)
Operating profit/(loss) on trading activities 4,189 449 3,773
Increase in value of investment properties – – (13)
(Loss)/Gain on investments held at fair value (29) – 3
Operating profit 1 4,160 449 3,763
Write off of investment in joint venture – – (1,827)
Share of profit/(loss) in joint ventures 8 4 8
Profit before interest and taxation 4,160 453 1,944
Interest receivable 80 127 205
Interest payable (283) (337) (664)
Profit/(Loss) before taxation 1 3,965 243 1,485
Income tax 2 (1,201) (18) (564)
Profit/(Loss) for the period 2,764 225 921
Attributable to:
Equity holders of the company 2,376 253 749
Non-controlling interest 388 (28) 172
Profit/(Loss) for the period 2,764 225 921
Earnings/(Loss) per share – basic 3 22.25p 2.37p 7.02p
Earnings/(Loss) per share – diluted 3 21.73p 2.37p 7.02p
Bisichi Mining PLC

Consolidated statement of comprehensive income

For the six months ended 30 June 2018

Unaudited Unaudited Audited
6 months
ended 6 months
ended Year
ended
30 June 30 June 31 December
2018 2017 2017
£000 £000 £000
Profit/(Loss) for the period 2,764 225 921
Other comprehensive income:
Exchange differences on translation of foreign operations (226) 7 91
Gain on available for sale investments – 28 103
Taxation – (3) (20)
Other comprehensive income for the period, net of tax (226) 32 174
Total comprehensive income for the period 2,538 257 1,095
Attributable to:
Equity shareholders 2,191 285 912
Non-controlling interest 347 (28) 183
Total comprehensive income for the period 2,538 257 1,095

Bisichi Mining PLC
Consolidated Balance Sheet
as at 30 June 2018
Unaudited Unaudited Audited
30 June 2018 30 June 2017 31 December 2017
Assets £000 £000 £000
Non-current-assets
Value of investment properties 13,260 13,265 13,245
Fair value of head leases 152 181 152
Investment property 13,412 13,446 13,397
Reserves, plant and equipment 7,972 8,819 8,613
Investments in joint ventures 883 1,326 874
Loan to joint venture – 1,398 –
Other investments available for sale – 46 51
Other investments at fair value through profit and loss (“FVPL”) 32 – –
Total non-current assets 22,299 25,035 22,935
Current assets
Inventories 985 842 828
Trade and other receivables 7,748 6,163 6,417
Investments in listed securities held at FVPL (previously classified as Available for sale investments) 1,032 779 1,050
Cash and cash equivalents 6,600 2,414 5,327
Total current assets 16,365 10,198 13,622
Total assets 38,664 35,233 36,557
Liabilities
Current liabilities
Borrowings (1,783) (806) (1,288)
Trade and other payables (7,667) (7,963) (7,381)
Current tax liabilities (273) (113) (356)
Total current liabilities (9,723) (8,882) (9,025)
Non-current liabilities
Borrowings (5,928) (5,887) (5,872)
Provision for rehabilitation (1,276) (1,283) (1,349)
Finance lease liabilities (152) (181) (152)
Deferred tax liabilities (2,298) (2,164) (2,485)
Total non-current liabilities (9,654) (9,515) (9,858)
Total liabilities (19,377) (18,397) (18,883)
Net assets 19,287 16,836 17,674
Equity
Share capital 1,068 1,068 1,068
Share premium 258 258 258
Translation reserve (1,856) (1,744) (1,671)
Available for sale reserves – 85 143
Other reserves 722 683 683
Retained earnings 18,646 16,165 16,661
Total equity attributable to equity shareholders 18,838 16,515 17,142
Non-controlling interest 449 321 532
Total equity 19,287 16,836 17,674
Bisichi Mining PLC

Consolidated Cash Flow Statement

For the six months ended 30 June 2018

Unaudited Unaudited Audited
30 June 30 June 31 December
2018 2017 2017
£000 £000 £000
Cash flows from operating activities
Operating profit 4,160 449 3,763
Depreciation 1,077 956 1,790
Unrealised (gain)/loss on investments 37 – (3)
Unrealised gain on investment properties – – 13
Share based payment expense 39 – –
Exchange adjustments 63 28 256
Movement in working capital (1,870) 2,630 1,884
Net interest paid (203) (162) (422)
Income tax (paid)/received (1,328) 23 (11)
Cash flow from operating activities 1,975 3,924 7,270
Cash flows from investing activities (1,143) (1,258) (1,936)
Cash flows from financing activities (47) (154) (429)
Net increase/(decrease) in cash and cash equivalents 785 2,512 4,905
Cash and cash equivalents at 1 January 4,065 (890) (890)
Exchange adjustment (11) (2) 50
Cash and cash equivalents at end of period 4,839 1,620 4,065
Cash and cash equivalents
For the purposes of the cash flow statement, cash and cash equivalents comprise the following balance sheet amounts:

Cash and cash equivalents 6,600 2,414 5,327
Bank overdrafts (1,761) (794) (1,262)
Cash and cash equivalents at end of period 4,839 1,620 4,065
Bisichi Mining PLC

Consolidated statement of changes in shareholders’ equity

For the six months ended 30 June 2018

Share Share Translation Available for sale Other Retained Non-
controlling Total
capital premium reserve reserves reserves earnings Total Interest Equity
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Balance as at 1 January 2017 1,068 258 (1,751) 60 683 16,339 16,657 349 17,006
Profit for the period – – – – – 253 253 (28) 225
Other comprehensive income and expense – – 7 25 – – 32 – 32
Total comprehensive income for the period – – 7 25 – 253 285 (28) 257
Dividend – – – – – (427) (427) – (427)
Equity share options – – – – – – – – –
Balance at 30 June 2017 1,068 258 (1,744) 85 683 16,165 16,515 321 16,836
Balance as at 1 January 2017 1,068 258 (1,751) 60 683 16,339 16,657 349 17,006
Revaluation of investment properties and impairments – – – – – (1,808) (1,808) – (1,808)
Other income statement movements – – – – – 2,557 2,557 172 2,729
Profit for the year – – – – – 749 749 172 921
Other comprehensive income and expense – – 80 83 – – 163 11 174
Total comprehensive income for the year – – 80 83 – 749 912 183 1,095
Dividend – – – – – (427) (427) – (427)
Equity share options – – – – – – – – –
Balance at 31 December 2017 1,068 258 (1,671) 143 683 16,661 17,142 532 17,674
IFRS 9 Reclassification – – – (143) – 143 – – –
Balance at 1 January 2018 1,068 258 (1,671) – 683 18,804 17,142 532 17,674
Profit for the year – – – – – 2,376 2,376 388 2,764
Other comprehensive income and expense – – (185) – – – (185) (41) (226)
Total comprehensive income for the period – – (185) – – 2,376 2,191 347 2,538
Dividend – – – – – (534) (534) (430) (964)
Equity share options – – – – 39 – 39 – 39
Balance at 30 June 2018 1,068 258 (1,856) – 722 18,646 18,838 449 19,287
ACCOUNTING POLICIES AND NOTES TO THE ACCOUNTS:

The results for the six months ended 30 June 2018 have been prepared in accordance with International Financial Reporting Standards (IFRS). The principal accounting policies applied are the same as those set out in the Financial Statements for the year ended 31 December 2017 and which will form the basis of the 2018 Annual report.

Segmental analysis
For management purposes, the Group is organised into two operating Divisions, Mining and Property. These Divisions are the primary basis on which the Group reports its segment information. This is consistent with the way the Group is managed and with the format of the Group’s internal financial reporting.

Unaudited Unaudited Audited
30 June 30 June 31 December
2018 2017 2017
£000 £000 £000
Revenue
Mining 22,835 16,160 36,300
Property 549 558 1,125
Other 23 14 34
23,407 16,732 37,459
Operating profit/(loss)
Mining 3,751 68 2,848
Property 416 368 884
Other (7) 13 31
4,160 449 3,763
Write off of investment in joint ventures – – (1,827)
Share of profit in joint ventures 8 4 8
Interest receivable 80 127 205
Interest payable (283) (337) (664)
Profit/(Loss) before taxation 3,965 243 1,485
Taxation
Unaudited Unaudited Audited
30 June 30 June 31 December
2018 2017 2017
£000 £000 £000
Based on the results for the period:
Corporation tax at 27.00% (2017: 19.5%) 1,246 107 367
Prior year adjustment – UK – – (5)
1,246 107 362
Deferred taxation (45) (89) 202
1,201 18 564
Earnings/ (loss) per share
Both the basic and diluted earnings per share calculations are based on a profit of £2,376,000 (2017: £253,000). The basic earnings per share has been calculated on a weighted average of 10,676,839 (2017: 10,676,839) ordinary shares being in issue during the year. The diluted earnings per share has been calculated on the weighted average number of shares in issue of 10,676,839 (2017: 10,676,839) plus the dilutive potential ordinary shares arising from share options of 165,400 (2017: nil) totalling 10,842,239 (2017: 10,676,839).

Investment properties
Investment properties are included at valuation as at 31 December 2017 plus additions in the period ended 30 June 2018.

Related Parties
The related parties and the nature of costs recharged are as disclosed in the group’s annual financial statements for the year ended 31 December 2017. The group paid management fees of £68,750 (30 June 2017: £68,750 31 December 2017: £137,500) to London & Associated Properties PLC, an associated company.

Financial information
The above financial information does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. The figures for the year ended 31st December 2017 are based upon the latest statutory accounts, which have been delivered to the Registrar of Companies; the report of the auditors on those accounts was unqualified and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006.

As required by the Disclosure and Transparency Rules of the UK’s Financial Conduct Authority, the interim financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) and in accordance with both IAS 34 ‘Interim Financial Reporting’ as adopted by the European Union and the disclosure requirements of the Listing Rules.

The half year results have not been audited or subject to review by the company’s auditors.

The annual financial statements of Bisichi Mining PLC are prepared in accordance with IFRS as adopted by European Union. The same accounting policies are used for the six months ended 30 June 2018 as were used for the year ended 31 December 2017.

The assessment of new standards, amendments and interpretations issued but not effective, are not anticipated to have a material impact on the financial statements. The following new or revised standards that are applicable to the group were issued but not yet effective:

IFRS 16 – Leases

The largest areas of estimation and uncertainty in the interim financial statements are in respect of:

The valuation of investment properties;
Life of mine and reserves;
Depreciation;
Provision for rehabilitation (relating to environmental rehabilitation of mining areas);
Impairment and;
Carrying values of mining joint ventures
The following new standards have become effective and have been adopted by the Group during the year:

IFRS 15 – Revenue from Contract with Customers

The Group has applied IFRS 15 retrospectively and the new standard had no material financial impact on the accounts.

IFRS 9 – Financial Instruments

The adoption of IFRS 9 has resulted in changes in the Group’s accounting policies for the recognition, classification and measurement of financial assets and financial liabilities and impairment of financial assets. The only material impact of IFRS 9 on the Group financial statements related to the movement in fair value of the Groups held for trading (previously available for sale) investments and non-current other investments (“the investments”). Under IAS 39 the movement in the investments was measured at fair value through other comprehensive income and taken to an available for sale reserve. Under IFRS 9 the movements are measured at fair value through profit and loss and taken to retained earnings. The Group has not restated prior periods as allowed by the transition provisions of IFRS 9. In order to reclassify the impact of historic movements on the investments, an adjustment of £109,000 has been made to the Group statement of changes in equity at 1 January 2018 transferring the historical fair value movements of the investments from the available for sale reserve to retained earnings.

Investment properties are not re-valued at the half year end unless there is evidence of a material change in valuation. There have been no material changes in fair value during the period. Please refer to page 60 of the 2017 Annual report and Accounts for details on the valuation of investment properties as at 31 December 2017.

Other areas of estimation and uncertainly are referred to in the group’s annual financial statements. There have been no significant changes to the basis of accounting of key estimates and judgements as disclosed in the annual report as at 31 December 2017.

There is no material seasonal impact on the group’s financial performance. Taxes on income in the interim periods are accrued using tax rates expected to be applicable to total annual earnings.

The interim financial statements have been prepared on the going concern basis as the Directors are satisfied the group has adequate resources to continue in operational existence for the foreseeable future.

Dividend
The interim dividend in respect of 2017, totalling £107,000 was paid on the 9th of February 2018. The final dividends in respect of 2017, totalling £427,000 was approved by the shareholders at the Annual General Meeting held on the 6th June 2018 and was paid on the 27th July 2018. The final dividend in respect of 2017 is included as a liability in these interim financial statements. A proposed interim dividend for the year ended 31 December 2018 totalling £107,000 was approved by the Board of Directors on 23 August 2018 and has not been included as a liability in these Interim Financial Statements.

Principal risks and uncertainties
The Group has an established risk management process which works within the corporate governance framework as set out in the 2017 Annual Report and Accounts. Risks and uncertainties identified by the Group are set out on page 14 of the 2017 Annual Report & Accounts and are reviewed on an ongoing basis. There have been no significant changes in the first half of 2018 to the principle risks and uncertainties as set out in the 2017 Annual Report & Accounts.

The principal risks as stated in the accounts reflect the challenging environment in which the business operates and are considered under the following broad headings:

Mining:

Coal price risk
Mining risk
Currency risk
New reserves and mining permissions
Power supply risk
Flooding risk
Environmental risk
Health & safety risk
Labour risk
Cashflow
Property:

Property valuation
Board approval
These interim results were approved by the Board of Bisichi Mining on 23 August 2018.

DIRECTORS RESPONSIBILITY STATEMENT AND REPORT ON PRINCIPAL RISKS

AND UNCERTAINITIES

Responsibility Statement

We confirm to the best of our knowledge:

(a) the condensed set of financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the EU;

(b) the interim management report includes a fair review of the information required by:

(1) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and

(2) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during the period; and any changes in the related party transactions described in the last annual report that could do so.

This report contains forward-looking statements. These statements are based on current estimates and projections of management and currently available information. Future statements are not guarantees of the future developments and results outlined therein. Rather, future developments and results are dependent on a number of factors; they involve various risks and uncertainties and are based upon assumptions that may not prove to be accurate. Risks and uncertainties identified by the Group are set out on page 14 of the 2017 Annual Report & Accounts. We do not assume any obligation to update the forward-looking statements contained in this report.

Michael Heller Andrew Heller

Chairman Managing Director

23 August 2018

DIRECTORS AND ADVISERS

Directors Sir Michael A Heller MA, FCA (Chairman)

Andrew R Heller MA, ACA (Managing Director)

Robert Grobler PR Cert Eng (Mining Director)

Garrett Casey CA (SA) (Finance Director)

Christopher A Joll MA (Non-executive)

John A Sibbald MA (Non-executive)

Secretary & Registered office Garrett Casey CA (SA)

24 Bruton Place

London W1J 6NE

Black Wattle Colliery – Directors Andrew Heller (Managing Director)

Garrett Casey (Finance Director)

Ethan Dube (Commercial Director)

Robert Grobler (Mining Director)

Millicent Zvarayi

Registrars and transfer office Link Asset Services

Shareholder Services

The Registry, 34 Beckenham Road

Beckenham, Kent

BR3 4TU

UK Telephone: 0871 664 0300

(Calls cost 12p per minute plus network access charges; lines are open Monday to Friday between 9.00am and 5.30pm)

International Telephone: +44 371 664 0300

(Calls outside the United Kingdom will be charged at applicable international rate)

Website: www.linkassetservices.com

E-mail: shareholderenquiries@linkgroup.co.uk

Company registration number 112155 (Incorporated in England and Wales)

Web site www.bisichi.co.uk

E-mail admin@bisichi.co.uk

Bisichi Mining plc

Report on payments to governments for the year 2017

Bisichi Mining plc together with its subsidiaries issues the following report on payments to government for the year ended 31 December 2017.

INTRODUCTION

This Report provides an overview of the payments to governments made by Bisichi Mining plc and its subsidiaries for the year ended 31 December 2017 as required under the UK Reports on Payments to Governments Regulation 2014 and its amendment in December 2015 (the UK Regulations). This Report is also intended to satisfy the requirements of the Disclosure and Transparency Rules of the Financial Conduct Authority in the United Kingdom.

BASIS OF PREPARATION

Reporting entities

This report includes payments to governments made by Bisichi Mining plc and its subsidiary undertakings (Bisichi Mining). Payments made by associates and entities over which Bisichi Mining has joint control are excluded from this report.

Activities

Payments made by Bisichi Mining to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals (extractive activities) are to be disclosed in this report.

Government

Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government.

Project

Payments that are reported at project level except that payments that are not attributable to a specific project are reported at legal entity level. Project is defined as being the operational activities which are governed by a single contract, or licence agreement, and form the basis for payment liabilities with a government.

If agreements of this kind are substantially interconnected (i.e. forming a set of operationally and geographically integrated contracts, licenses, leases or concessions) these are treated for the purposes of these Regulations as a single project. Indicators of integration include geographic proximity and common operational management.

Payments

The information is reported under the following payment types:

Taxes

These are any taxes paid by Bisichi Mining on its income and profits in accordance with legislation enacted in the applicable jurisdiction. Payments are reported net of refunds. Value added tax, personal income taxes, social taxes, property taxes are excluded.

Royalties

Royalties is any mining royalty payable in the Republic of South Africa.

Fees

These are any fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector are excluded.

Infrastructure improvements.

Payments in kind in the form of infrastructure expenditure other than in circumstances where the infrastructure is expected to be primarily dedicated to operational activities throughout its useful life. UK Regulations do not require reporting social or community payments, such as payments to build a hospital or a school.

Other types of payments

Other types of payments that are required to be disclosed in accordance with the UK Regulations but are not relevant to Bisichi Mining operations are the following:

–           Production entitlements

–           Dividends

Including dividends paid to a government in lieu of production entitlements or royalties. Dividends paid to a government as an ordinary shareholder on the same terms as to other ordinary shareholders and not paid in lieu of production entitlements or royalties are excluded.

–           Signature, discovery and production bonuses

Payments are reported on a cash basis. No in-kind payments were made during year ended 31 December 2017.

Materiality Level

In line with the UK Regulations, where a payment or a series of related payments have not exceeded £86,000 they have not been disclosed.

Exchange Rate

Relevant payments are made by Bisichi Mining in South African Rand and for the purpose of this report are translated to UK Sterling using the annual average exchange rate for the period.

PAYMENTS PER GOVERNMENT

Government

Taxes

Royalties

Fees

Infrastructure improvements

Total

Republic of South Africa

£346,265

£346,265

Total

–  

£346,265  

–  

–  

£346,265  

PAYMENTS PER PROJECT

Entity

Project

Country/ Government

Taxes

Royalties

Fees

Infrastructure improvements

Total

Black Wattle Colliery (Pty) Ltd

Black Wattle

South Africa

£346,265

£346,265

Total

–  

£346,265  

–  

–  

£346,265  

A copy of the report referred to above has been sent to the National Storage Mechanism and will shortly be available for viewing at www.morningstar.co.uk/uk/NSM

For further information, please contact:

Garrett Casey

Company Secretary

Bisichi Mining plc

Tel: 020 7415 5000

27 June 2018

FOR IMMEDIATE RELEASE

23 May 2018

BISICHI MINING PLC:

£5.6M JOINT VENTURE RETAIL ACQUISITION

Bisichi Mining PLC (“Bisichi”) today announces it has formed a joint venture that has exchanged contracts to acquire the freehold of five shops in West Ealing, London.

Bisichi Mining Plc and London & Associated Properties PLC, a 41.52% shareholder of Bisichi, will each own 45% of the joint venture, with the remaining 10% owned by Metroprop Real Estate Ltd.

The shops produce a current rent of c£140,000 per annum and have planning consent for 20 flats at first and second floor.  Four flats have already been built and are currently vacant.

The total consideration paid by the joint venture for the shops, before transaction and development costs, will be £5.6 million of cash. Bisichi’s share of the consideration will be funded out of existing cash resources.

Andrew Heller, Bisichi’s Managing Director, commented: “This is an exciting opportunity to acquire a substantial block of shops in a rapidly improving part of West London.  The portfolio is a five-minute walk from West Ealing Crossrail station and we expect values there to continue to rise over the medium term.  I look forward to updating shareholders as the development progresses”.

Ends.

Contact:

Andrew Heller, Managing Director, Bisichi.                          Tel: 020 7415 5030

 

For the year ended 31 December 2018, I am pleased to report that your company achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of £8.6million (2017: £3.7 million) and operating profit before depreciation, fair value adjustments and exchange movements (Adjusted EBITDA) of £9.1million (2017: £5.8million).

Bisichi Mining PLC

Annual Report – year ended 31 December 2017 and Notice of Annual General Meeting – 6 June 2018.

This is to confirm that Bisichi Mining PLC has posted its Annual Report and Accounts for the year ended 31 December 2017, Notice of Annual General Meeting (to be held on 6 June 2018) and Form of Proxy to shareholders.

The document was published on the company’s website and a copy was posted to all shareholders who had requested a printed copy. A letter was sent to those shareholders who had consented to web publications to advise them that the document was now available on the company’s website.

A RNS announcement of the text of the Annual Report excluding the Notice of AGM and the proxy form was made on 23 April 2018.

Copies of the Annual Report may be obtained from the Company Secretary at the company’s registered office, 24 Bruton Place, London, W1J 6NE and is available for download from www.bisichi.co.uk

Copies of the above documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do

Garrett Casey

Company Secretary

020 7415 5030
10 May 2018

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Bisichi Mining Ord GBP0.10

1b. Please indicate if the issuer is a non-UK issuer   (please mark with an ?X? if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an ?X?)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Cavendish Asset Management Ltd

City and country of registered office (if applicable)

London, UK

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reachedvi:

23/04/2018

6. Date on which issuer notified (DD/MM/YYYY):

25/04/2018

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments

(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

18.08

18.08

1,930,154

Position of previous notification (if

applicable)

17.98

17.98

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type of

shares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Ordinary Shares

GB0001012045

1,930,154

18.08

SUBTOTAL 8. A

1,930,154

18.08

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expiration

datex

Exercise/

Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expiration

datex

Exercise/

Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an ?X?)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

X

Full chain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Place of completion

London, UK

Date of completion

25/04/2018