10th Aug 2009 14:35
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
10 August 2009
Atlantic Coal plc
('Atlantic' or 'the Company')
Acquisition of Interest in Strategic Natural Resources plc
Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, announces that on 7 August 2009 it purchased 6,840,000 ordinary shares of 1p each in Strategic Natural Resources plc ('SNR') representing 9.99% of SNR's issued share capital, for cash at 8.25p per share. Atlantic has no other interests in SNR shares.
Atlantic is considering its position regarding a possible offer for SNR. If any offer is made, it will be at a minimum price of 15p per SNR share, such price being a premium of 84.6% to the middle market price of 8.125p per SNR share as at close of business on 7 August 2009. If any offer is made, the consideration would be a mixture of new ordinary shares in Atlantic and cash.
It is emphasised that this announcement does not amount to a firm intention to make an offer and it is possible that no offer will be made.
A further announcement will be made in due course.
**ENDS**
For further information on the Company, visit: www.atlanticcoal.com or contact:
|
Stephen Best |
Atlantic Coal plc |
Tel: 020 7182 1747 |
|
Greg Kuenzel |
Atlantic Coal plc |
Tel: 020 7182 1747 |
|
Imran Ahmad |
HB Corporate Limited |
Tel: 020 7510 8600 |
|
Nick Athanas |
HB Corporate Limited |
Tel: 020 7510 8600 |
|
Daniel Fox Davies |
Fox Davies Capital Ltd |
Tel: 020 7936 5230 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
|
Chris Welsh |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
Related Shares:
Atlantic CoalSNRP.L