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ATH Ath Resources

0.325
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ath Resources LSE:ATH London Ordinary Share GB00B013H730 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.325 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

ATH Resources plc Trading Update (3943R)

19/11/2012 7:00am

UK Regulatory


ATH Resources (LSE:ATH)
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RNS Number : 3943R

ATH Resources plc

19 November 2012

19 November 2012

ATH Resources plc

("ATH" or the "Company" or the "Group")

Trading Update

ATH Resources plc (AIM: ATH), one of the UK's largest coal producers, today issues the following announcement.

The Group has been notified by its lenders, HSBC PLC and Clydesdale Bank PLC (trading as Yorkshire Bank), that BECAP Fund LP has acquired some of ATH Resources plc and its subsidiaries' banking facilities and their related rights.

As a result of initial discussions with representatives of BECAP Fund LP the Board understands that a comprehensive review and restructuring of the Group's business will be required and that, given the existing level of liabilities in the Company, it is unlikely that existing shareholder value will be maintained. Following completion of the review the new lender may be prepared to inject new capital into a restructured business.

The Board will continue to update the market as appropriate.

Contacts and enquiries:

 
 ATH Resources plc 
 David Port, Non Executive Chairman         Tel: +44 (0) 7836 693 798 
 Alistair Black, Chief Executive            Tel: +44 (0) 1302 760 462 
                                                        www.ath.co.uk 
 
 Seymour Pierce Limited                     Tel: +44 (0) 207 107 8000 
 Stewart Dickson (Nominated Adviser)            www.seymourpierce.com 
 Richard Redmayne / Katie Ratner (Broker) 
 
 Hudson Sandler                             Tel: +44 (0) 207 796 4133 
 Andrew Leach / Charlie Jack / Katie            www.hudsonsandler.com 
  Matthews 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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