Atlantic Coal PLC Issue of Equity (8244Y)

TIDMATC

RNS Number : 8244Y

Atlantic Coal PLC

11 September 2015

Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

Atlantic Coal plc ("Atlantic" or the "Company")

Issue of equity

Atlantic Coal Plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, announces that it has raised gross proceeds of GBP300,000 through a placing (the "Placing") of 250,000,000 new ordinary shares (the "Placing Shares") at a price of 0.12 pence. The Placing price represents a discount of approximately 20% to the closing mid-market price of 0.15 pence on 10 September 2015, the latest full trading day prior to this announcement.

The Placing Shares have been subscribed for by SVS Securities plc and the net proceeds of the Placing will be used for general working capital purposes. The Placing Shares, when issued, will constitute 5.09% of the then issued share capital of the Company. Cornhill Capital Limited acted as placing agent.

Application will be made for the Placing Shares, which will rank pari passu with the Company's existing Ordinary Shares in issue, to be admitted to trading on AIM. It is expected that admission will be effective and that dealings in the Placing Shares will commence on 25 September 2015.

Following the issue of the Placing Shares, the enlarged issued share capital of the Company will be 4,912,538,505 Ordinary Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

**ENDS**

For further information on the Company, visit: www.atlanticcoal.com or contact:

 
 Steve Best      Atlantic Coal plc   Tel: [phone] 
                                      6392 
 Nick Naylor     Allenby Capital     Tel: [phone] 
                  Limited             5656 
 Alex Price      Allenby Capital     Tel: [phone] 
                  Limited             5656 
 Alex Brearley   Allenby Capital     Tel: [phone] 
                  Limited             5656 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 11, 2015 07:00 ET (11:00 GMT)