Atlantic Coal Share Discussion Threads

[xow98] 02/11/2016 22:43

New Board Appointment
2/11/2016
George M. Roskos, former president of Hazleton Shaft Corporation which
ACG acquired in June 2016, was appointed as a non-executive director of
ACG on 1st November.

[garykc] 02/11/2016 18:30

Adam Wilson in a nutshell.

[howesp] 02/11/2016 17:02

As I thought, the recent take-overs by AGC (ie. Hazelton) are causing due diligence problems for Atrum. I reckon Atrum will either now come up with a lower offer or an offer that excludes part of the AGC empire. Reading between the lines I am fairly sure Atrum wants to get its hands on the really good bits of AGC-witness the Anthracite Option-but there is a bit or something they don't want which Adam Wilson (whom I don't trust to act in our interesrs) is desperate to get rid of!

Any ideas?

[barnetpeter] 02/11/2016 09:42

It is clear that Atc is worth a lot of money with prices moving up strongly for its product. But we can't sell ....

[marmar80] 02/11/2016 00:18

Atrum Coal report. Page 7: You will see a graph showing anthracite prices and more info about ACG takeover.



Acquisition of Shares and Takeover of Atlantic Carbon Group PLC

On 4 August 2016, Atrum announced it had entered into an agreement related to the proposed acquisition of a 26.68% interest in Atlantic Carbon Group PLC (“ACG”). ACG is an unlisted public company registered in the United Kingdom and operates three high grade and ultra-high grade anthracite mines in northeast Pennsylvania, USA. On 15 August 2016, Atrum issued an ASX release providing further background on ACG.
The acquisition was subject to conditions including, inter alia, further due diligence, funding and Atrum shareholder approval. At an Extraordinary General Meeting held 29 September 2016, the required shareholder approval was granted.
On 20 September 2016, the Company announced that it had approached ACG in relation to making a possible takeover offer for all of the shares issued by ACG. Under the UK City Code on Takeovers and Mergers, following an application to the UK Takeover Panel, Atrum had until 5pm on 26 October 2016 (UK time) before it was required to either announce its intention to proceed with the takeover offer (and announce the terms of the offer) or announce that no offer would be submitted.
Due to the time constraints of the UK City Code and the difficulty in sourcing information from regulators in relation to ACG’s US subsidiaries, the Company announced on 27 October 2016 that no offer will be submitted for all of the shares of ACG and that it has terminated the agreement to purchase a 26.68% minority stake. As of the end of October, the Company is in discussions with ACG in relation to a possible alternative transaction involving ACG.

Option Secured for 100K tonnes of Anthracite from ACG

On 11 August 2016, Atrum announced it had entered into an option agreement with ACG wherein ACG would make available up to 100,000 tonnes of anthracite to Atrum to sell to potential customers in Europe, South America and Asia. Net profits generated by the sale will be split on a 50/50 basis. This agreement allows Atrum to start selling anthracite into target export markets prior to development of the flagship Groundhog Project and while these markets are undersupplied and anthracite prices increasing.

[garykc] 01/11/2016 07:40

Probably more ways to stitch us PI's up even further.

[xow98] 31/10/2016 00:24

The trading halt is requested pending an announcement by ATU to the market in relation to a possible alternative transaction involving ACG

[xow98] 30/10/2016 23:25

securities of Atrum Coal NL will be suspended immediately pending the release of an announcement.

[piedro] 27/10/2016 10:28

Still in play ...

[garykc] 27/10/2016 08:05

Ha, at least the pigs wont be getting their sweat money from Atrum. I have written these off anyway so hope they all fall on their pork swords, swines.

[xow98] 27/10/2016 08:01

Statement regarding Atrum Coal NL

Atlantic Carbon Group Plc notes the announcement made by Atrum Coal NL (“Atrum” or the
“Bidder”) on 26 October 2016 that, in accordance with the requirements of the UK City Codeon Takeovers and Mergers (the “Takeover Code”), Atrum does not intend to make an offer for ACG.

Accordingly, Atrum is bound by the restrictions of the Takeover Code.
As all publicly identified potential bidders have now announced that they do not intend to make an offer for the shares of ACG, ACG is no longer in an offer period.

[garykc] 27/10/2016 07:41

And there is a surprise...................NOT!!!!

[smalltimer] 27/10/2016 06:09

Still movement! '' the trading halt is requested pending an announcement by ATU to the market in relation to a
possible alternative transaction involving ACG ''

www.atrumcoal.com/wp/wp-content/uploads/2016/10/01794502.pdf

www.atrumcoal.com/wp/wp-content/uploads/2016/10/01794596.pdf

[big7ime] 26/10/2016 17:22

Thought so, we only had a chance with Royal
This should mean SB will want a relisting, it's not in his interest to remain in effect a pvte co.
Their fortunes have really changed this yr, I think they were a little premature delisting, but guess they saw the co undervalued
What's involved to re-list on the US market?

[smalltimer] 26/10/2016 16:44

No offer :

www.investegate.co.uk/atrum-coal-nl--atu-/rns/rule-2-8-statement/201610261600025378N/

[big7ime] 26/10/2016 16:19

They had better tread carefully, as the FCA are looking into these AIM stock shinanigans. Blatant irregularities and possible fraudulent activity is being slowly clamped down on retrospectively. Directors are liable.

[garykc] 26/10/2016 05:47

In a word.............No

[barnetpeter] 25/10/2016 23:56

coal prices are soaring.....ATC is worth a lot. But will we see any of it?????

October 24 2016,
The Times

Coking coal prices have risen from $78 a tonne to $243 a tonne; the price of thermal coal is up 50 per cent

[sherbs] 25/10/2016 02:50

Could it be that if they intend to relist the crooks sell their shareholdings when private, reissue shares to the directors on relisting and atrum benefits by getting in cheaper than the listing price and gets to put seat on board and top of list when it comes to future discounted shares ( relistings ,placings etc)to retain % until ready to make firm bid. Everyones a winner, past and new shareholders shafted . Well that sort of thing ....

[barnetpeter] 24/10/2016 20:47

Well let's see on Wednesday. We had a real chance of a good return when there were other possible bidders.

[garykc] 24/10/2016 17:16

I do not believe that us long suffering shareholders will get a bean from this managed fiasco. Atrum are only buying the three little piggies shares (26.68%) and not the whole company. The only reason they are only buying that many, is if they held over 30%, they would surely have to make a formal bid for the company in which case we would all benefit. This has been very "skilfully" managed in my opinion to shaft us once again. Hansel and Gretal and breadcrumbs springs to mind!!!

[howesp] 24/10/2016 17:00

I suggest you have to remember that Atlantic acquired the Hazelton Shaft Corporation not long before Atrum appeared on the scene. Atrum has to do due diligence on the whole enlarged Company and it may be this which is delaying a formal final Acquisition offer. Be patient.