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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMATC
RNS Number : 2292B
Atlantic Coal PLC
02 April 2013
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
2 April 2013
Atlantic Coal plc ("Atlantic Coal" or the "Company")
Option update
Atlantic Coal, the AIM-listed anthracite coal mining company operating in Pennsylvania, USA, announces an update in relation to the option agreement to acquire additional anthracite mining assets in Pennsylvania, further details of which were originally announced on 15 February 2012.
This option, which is exercisable entirely at the Company's discretion, has an exercise price of US$35 million and, following a previous extension as announced on 29 October 2012, the exercise period ends on 31 March 2013 (the "Option exercise Period"). As a result of the size of the exercise price, the acquisition of the assets in question would be likely to constitute a reverse takeover under the AIM Rules for Companies and would therefore be, inter alia, subject to shareholder approval. Due diligence and funding discussions are on-going but will not be completed prior to the expiry of the Option Exercise Period.
The Company has had discussions with the vendor in connection with the extension of the Option Exercise Period and anticipates that this will be agreed shortly. However, there can be no certainty that the vendor will in fact agree an option extension or that such an extension will be on acceptable terms to the Company. Further announcements will be made in this regard at the appropriate time.
**ENDS**
For further information on the Company, visit: www.atlanticcoal.com or contact:
Steve Best Atlantic Coal plc Tel: 020 3328 5670 Nick Naylor Allenby Capital Tel: 020 3328 Limited 5656 Mark Connelly Allenby Capital Tel: 020 3328 Limited 5656 Elisabeth St Brides Media Tel: 020 7236 Cowell & Finance Ltd 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUARBROWASRAR
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