Ben's Creek Mine of MBU Capital entered into a non-binding heads of agreement to acquire Plutus PowerGen Plc (AIM:PPG) in a reverse merger transaction on June 11, 2021. The consideration will be satisfied entirely through the issue of new Plutus ordinary shares in the to MBU Capital. It is anticipated that upon completion, MBU Capital will be the majority shareholder of the enlarged group. Plutus intends to carry out an appropriate share consolidation and subdivision. Plutus will change its name to Ben's Creek plc. On completion it is proposed that a new Chief Executive Officer, new Chief Financial Officer and two new Independent Non-executive Directors (one of whom will assume the role of Chairman) will join the Board of the enlarged group. The current Directors of Plutus, except for James Longley who will remain as a Non-executive Director, will resign from the Board. The transaction is subject to satisfactory completion of the necessary due diligence; the completion and execution of the share purchase agreement; approval by Plutus' shareholders, at a general meeting; the raising of an appropriate amount of new equity fund; the grant of a Rule 9 waiver by the UK Takeover Panel in respect of the proposed issue of new shares to MBU Capital; and admission of the enlarged group's shares to trading on AIM. Nick Athanas, Nick Naylor, and George Payne of Allenby Capital Limited acted as financial advisor and joint broker; and Mark Treharne of Pello Capital Limited and Andy Thacker of Turner Pope Investment (TPI) Limited acted as joint brokers to Plutus.