11th Oct 2011 16:52
Atlantic Coal plc/Index: AIM/Epic: ATC/Sector: Mining
Atlantic Coal plc ("Atlantic" or the "Company")
Director's dealing
Atlantic Coal plc, the AIM-traded open cast coal production and processing company with activities in Pennsylvania, USA, announces that it received notification yesterday that on 30 December 2010, Adam Wilson, Non-Executive Chairman of the Company, sold 1,857,142 ordinary shares of 0.07 of one penny each in the capital of the Company ("Ordinary Shares") at a price of 0.7 of one penny per Ordinary Share (the "Director Sale Shares").
The Director Sale Shares were purchased by a pension fund of which Adam Wilson is a beneficiary, managed by Crescent Trustees Limited, at a price of 0.7 of one penny per Ordinary Share.
As a result of these two transactions, Adam Wilson's total beneficial shareholding remained unchanged. His total beneficial interest currently stands at 126,307,070 Ordinary Shares or 3.26 per cent. of the issued share capital of the Company.
**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 |
Peter Rose | Fox-Davies Capital Limited | Tel: 020 3463 5030 |
Simon Leathers | Fox-Davies Capital Limited | Tel: 020 3463 5010 |
Hugo de Salis | St Brides Media & Finance Limited | Tel: 020 7236 1177 |
Elisabeth Cowell | St Brides Media & Finance Limited | Tel: 020 7236 1177 |
Notes
Atlantic Coal plc is an AIM-traded 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 3.2 million tons run-of-mine coal.
Atlantic's strategy is to create a significant mid-tier coal company; both through the expansion of activities at Stockton 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 directors of Atlantic have identified opportunities to expand within the region and are involved in on-going 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.
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