RNS Number : 9926P
Atlantic Coal PLC
11 October 2011
Atlantic Coal plc/Index: AIM/Epic: ATC/Sector: Mining
Atlantic Coal plc ("Atlantic" or the "Company")
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.
For further information on the Company, visit: www.atlanticcoal.com or contact:
Steve Best Atlantic Coal plc Tel: 020 3328
Nick Naylor Allenby Capital Tel: 020 3328
Alex Price Allenby Capital Tel: 020 3328
Peter Rose Fox-Davies Capital Tel: 020 3463
Simon Leathers Fox-Davies Capital Tel: 020 3463
Hugo de Salis St Brides Media Tel: 020 7236
& Finance Limited 1177
Elisabeth St Brides Media Tel: 020 7236
Cowell & Finance Limited 1177
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.
This information is provided by RNS
The company news service from the London Stock Exchange