Result of EGM & Open Offer

RNS Number:0592N
ATH Resources plc
02 June 2005


Press Release                                                       2 June 2005


                                 ATH Resources plc



                        ("ATH Resources" or "the Group")


                          Result of EGM and Open Offer


ATH Resources plc, one of the UK's largest coal producers, announces that at its
Extraordinary General Meeting held today, the special resolution proposed to
shareholders (as set out in its prospectus to shareholders dated 10 May 2005 ("
the Prospectus") was duly passed.



The Company also announces that the 1 for 3 Open Offer of 9,923,392 New Ordinary
Shares at 170p per share closed at 3.00pm on 1 June 2005.  Of the 9,923,392 New
Ordinary Shares available under the Open Offer, irrevocable undertakings not to
take up their entitlements were received in respect of 5,323,071 New Ordinary
Shares.  These shares were placed firm by Seymour Pierce with institutional
investors.  Valid applications were received in respect of 4,483,296 New
Ordinary Shares of the remaining 4,600,321 available for take up by Qualifying
Shareholders, which represents an aggregate take-up of approximately 97.5%
(45.2% of the entire Open Offer). The balance of the New Ordinary Shares not
taken up, being 117,025 New Ordinary Shares, have also been placed by Seymour
Pierce with institutional investors.



As a result of the Open Offer, the Group has raised #16,869,766 (before
expenses) for the acquisition of two opencast coal sites at Grievehill and
Glenmuckloch from The Scottish Coal Company Ltd ("SCC").



Application has been made for the 9,923,392 New Ordinary Shares to be admitted
to AIM.  Admission of the New Ordinary Shares to AIM is expected to become
effective at 8.00 am on 3 June 2005.



                                    - Ends -



For further information:
ATH Resources plc
Tom Allchurch, Chief Executive                         Tel: [phone]
[e-mail]                                                      www.ath.co.uk


Seymour Pierce Limited
Sarah Wharry / Jeremy Porter, Corporate Finance        Tel: [phone]
[e-mail]                              www.seymourpierce.com



Media enquiries:
Abchurch
Henry Harrison-Topham / Charlie Jack                   Tel: [phone]
[e-mail]                               www.abchurch-group.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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