LEXINGTON, Ky., March 26, 2019 /PRNewswire/ -- Ramaco Resources,
Inc. (NASDAQ: METC) ("Ramaco" or the "Company") today announced
that Yorktown Energy Partners Fund IX, L.P. ("Yorktown IX")
notified Ramaco today that, in the normal course of its partnership
business, it made an in-kind distribution of 1,000,000 shares of
Ramaco common stock (2.4% of the total outstanding shares) to its
general and limited partners after the close of the stock market on
March 25, 2019. After the
distribution, Yorktown IX continues to hold 11,971,525 shares of
Ramaco common stock (29.3% of the total outstanding
shares). In August 2018,
Yorktown IX previously made two distributions totaling 1,800,000
shares of Ramaco common stock in the normal course of business to
its general and limited partners. Ramaco was further advised by
Yorktown IX that, pursuant to the Yorktown partnership agreements, the
distributed shares would be permitted to be sold immediately.
Ramaco has not independently confirmed whether any such shares have
been sold.
Yorktown Energy Partners Fund X, L.P. continues to own 3,692,881
shares of Ramaco common stock (9.0% of the total outstanding
shares), and Yorktown Energy Partners Fund XI, L.P. continues to
own 5,587,128 shares (13.7% of the total outstanding shares) of
Ramaco common stock. In total, after taking into account
yesterday's distribution by Yorktown IX, all of the aforementioned
Yorktown funds collectively own
52.0% of the Company.
Ramaco has been advised that Yorktown partnerships may make further similar
in-kind stock distributions in the future in the normal course of
its partnership business.
About Ramaco Resources, Inc.
Ramaco Resources, Inc. is an operator and developer of
high-quality, low cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its executive offices are in
Lexington, Kentucky, with
operational offices in Charleston, West
Virginia. The Company has five active mines within two
mining complexes at this time.
News and additional information about Ramaco Resources,
including filings with the Securities and Exchange Commission, are
available at http://www.ramacoresources.com. For more
information, contact investor relations at (859) 244-7455.
Media Contact:
Brandy Pennington
Director of SEC and Financial Reporting
859-244-7455
bnp@ramacocoal.com
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SOURCE Ramaco Resources