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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 : 2704C
Atlantic Coal PLC
03 March 2011
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
3 March 2011
Atlantic Coal plc ("Atlantic" or the "Company")
Result of General Meeting
Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, is pleased to announce that all the resolutions put to shareholders at the General Meeting held earlier today (the "GM") have been passed.
On 14 February 2011 the Company announced that it had completed a conditional placing of 1,600,000,000 new ordinary shares of 0.07 pence each in the Company (the "Placing Shares") at a price of 0.75 pence per Placing Share, raising GBP12.0 million (before fees and expenses) (the "Placing"). The Placing is conditional upon the Placing Shares being admitted to trading on AIM. Allenby Capital acted as lead broker to the Company with Cornhill Capital and FoxDavies acting as co-brokers.
Application has been made to the London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM and it is expected that dealings in the Placing Shares will commence on or around 4 March 2011. The Placing Shares will rank pari passu with the existing shares of 0.07 pence each in the Company.
The Placing Shares will represent 41.36 per cent. of the enlarged share capital of Atlantic. The total enlarged issued share capital of Atlantic following admission will be 3,868,772,016 ordinary shares of 0.07 pence each in the capital of the Company. 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: 020 3328 5670 Nick Naylor Allenby Capital Limited Tel: 020 3328 5656 Alex Price Allenby Capital Limited Tel: 020 3328 5656 Daniel Fox Davies FoxDavies Tel: 020 7936 5230 Hugo de Salis St Brides Media & Finance Tel: 020 7236 1177 Ltd Elisabeth Cowell St Brides Media & Finance Tel: 020 7236 1177 Ltd
Notes
Atlantic Coal Plc is an AIM listed coal production and processing company focussed predominantly on open cast mining and the processing of anthracite coal in Pennsylvania, USA. The Company's primary asset is the Stockton Colliery, a producing surface coal mine and adjacent anthracite preparation plant encompassing an area of approximately 900 hectares located in Hazel Creek in North-East Pennsylvania, which has current Proven Reserves of 4.2 million tons run-of-mine coal.
Atlantic Coal's strategy is to create a significant mid-tier coal company; both through the expansion of activities at the Stockton anthracite mine and identifying additional sites in Pennsylvania to build its production and resource profile, primarily by acquiring defined assets in stable, recognised, high quality coal regions. The Board has identified opportunities to expand within the region and is involved in ongoing negotiations regarding adjacent sites, with the intention of acting as a regional consolidator in the Pennsylvanian Coal Field. Expansion within the local area has the potential to minimise upfront deal costs as a result of existing and proven infrastructure, equipment, facilities and market demand.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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