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ATH Resources Share Discussion Threads
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|ATH Resources plc
09 May 2013
ATH Resources plc - in administration
("ATH" or the "Company")
Nominated Adviser ceasing to act and continued suspension to trading
In accordance with AIM Rule 1, ATH announces that Seymour Pierce has ceased to act as nominated adviser and broker with immediate effect.
Trading in the Company's securities were suspended on 5 December 2012 following the appointment William Wright, Brian Green and Allan Graham of KPMG LLP as administrators of the Company. The Company remains in administration and therefore the existing suspension to trading remains in place.
Admission of the Company's securities to trading on AIM will be cancelled on the earlier of six months following the date of suspension from trading or the failure to appoint a replacement nominated adviser by 8 June 2013.
This information is provided by RNS
The company news service from the London Stock Exchange|
|The workers are still working,only the holding company is bust.
In the meantime,can anyone tell me whether you can buy or sell these shares?.
I know they are suspended.
Already asked 2 brokers,who unable or unwilling to find out.
|I feel sorry for the workers here, thats life in this country, dog eat dog, govt couldnt care less, tho there are 300 more on benifits now ??? what a waste !! This goverment needs a good shake up fast !!|
|i saw this on BBC News on my laptop
5 December 2012 Last updated at 20:07 Share this pageEmail Print Share this page
30ShareFacebookTwitter.Opencast mining firm ATH Resources goes into administration ATH had received council backing to expand its Glenmuckloch mine, but in May it announced that it was deferring the plans
Continue reading the main story
Job fears over coal mine deferral
Mine expansion 'safeguards jobs'
One of Scotland's main opencast coal mining companies has gone into administration.
ATH Resources, which is the holding company for operators in Ayrshire, Fife and Dumfries and Galloway, was forced out of business on Wednesday.
Its main lender had responded to the company's financial difficulties by demanding immediate repayment of its debt.
Scotland's coal industry has been under pressure by cheaper imported coal.
The subsidiaries of ATH Resources employ around 300 people.
In May, ATH Resources deferred plans to expand an opencast coalmine in the south of Scotland.
The expansion plans at its Glenmuckloch facility had received the backing of Dumfries and Galloway Council, which ATH Resources said would safeguard 90 jobs.
But the firm blamed the decision to defer on the falling international price of coal.
It said its board would review the case to take forward or drop the expansion plans entirely by the end of this year.
A statement on the company's website said: "The Directors of ATH Resources plc one of the UK's largest coal producers, announce that its lender, BECAP Capital Coal Limited has today demanded repayment of the Group's facilities, in full, with immediate effect.
"The company cannot satisfy the full repayment of the facility and consequently, the lender has today appointed administrators to ATH Resources plc under powers contained in the security held by it."
It said William Wright, Brian Green and Allan Graham of KPMG had been appointed administrators.|
|Sorry guys shares suspended|
|err no chance of any return...all imo|
|it looks like its going to be scalped and broken up so no value in return, but there is a tiny tiny chance....|
|another one for the Aim dustbin, pi's used and spat out.|
I would let the dust settle first, the problem here isnt coal but the company running it, maybe after a major change its worth a punt ie a major rights issue 10 for 1 or even a free takeover from a bigger fish, who could take it private....all imo...GLA|
|This one really difficult to read. Seems down and out BUT why the interest by those buying up the bank loans. And as was my real interest in buying originally that UK is reliant on ALL forms of energy production incl coal of which we have masses. Every form of energy has its detractors, if we listen to them all bang goes our electricity supply. Hence why I believe we depend on all sources. Just need to convince the rest of UK and ATH shares should bounce. I think that I will take a punt, even out my current loss. Rest of UK just need to sort out the clean coal issue and bingo....hopefully.
|Its all in the RNS, no shareholder value !
But stranger things have happened. Looks like the 2.3m sell has been bought (I'm guessing everything from 0.299 upwards is a buy, as the sell was for just 0.2, MMs would be happy to take 50%+ profit from punters).|
|Just brought a shed load,nice.|
|UK power stations still need coal, they will continue to burn it for years in future, to make the electricity running our homes & businesses. bankrupting UK coal producers and replacing their coal with cheaper imports makes little sense. But who knows what government is thinking/not thinking.|
|oh yeah, can't wait for all those windy thingys to heat my house and give me light. when will that be?................never.|
|Exactly humbugg. Bye bye energy intensive manufacturing industry. Good job our economy now relies on finance, insurance and real estate, eh?. And abundant free green wind and solar energy and smart grids will be so much better than dirty old coal fired power generation.|
|can anybody answer this question please:
with the carbon price floor tax starting in april 2013, polluters will have to pay 16 quid per tonne CD they emit. surely that means coal in the UK is dead in the water?
|Still got the strangest feeling.....|
|Lots of small buys , is it the employees at ath buying ?.
|Spread far too much to take a really risky punt on coal ??
|Still know it all then IHNC I see......remember LGO........LOL|
|karmastuartra 18 Oct'12 - 13:40 - 743 of 750
Got the strangest feeling these are going to rocket
Following a surprise update
|You never know with ATH, however at current levels someone/a 3rd party may be able to strike a deal, down to the debt really. MCAP is currently at 330k!, last bid talks (year ago) MCAP was at 15-20 million ish with a little more debt!! and the situation was similar to todays.. so its possible any deal could increase the share price by 200-400% from 0.8p.
Total gamble with possible huge gains from here, however, could fold at anytime without an investor/buyer seeing value and doing a deal. Would not suprise me if a deal was doable tho'.|