ATH Resources plc Update on Restructuring (6484O)

TIDMATH

RNS Number : 6484O

ATH Resources plc

15 October 2012

ATH Resources plc

("ATH" or the "Company" or the "Group")

Update on Restructuring

On 5(th) October 2012, the Company announced that it was in discussions with its key stakeholders to secure support for a proposed refinancing plan. Consultations with key stakeholders, including the Company's lenders, are continuing, but developments over the past week have led the Directors to believe that the Company is unlikely to attract the level of capital required to continue operating without a restructuring of the Group. Given the level of liabilities within the Company, it is unlikely that shareholder value will be maintained following any possible restructuring.

Accordingly, the Company has instructed Deloitte LLP to advise on all restructuring options that may be available and to assist the Board in considering the merit of any proposals from parties who may be interested in investing in or acquiring the business.

The Company will update the market on developments in due course.

-End-

Contacts and enquiries:

 
ATH Resources plc                              Tel: +44 (0) 1302 760 462 
David Port, Non Executive Chairman                         www.ath.co.uk 
Alistair Black, Chief Executive 
Andrew Weatherstone, Finance Director 
 
Seymour Pierce Limited                         Tel: +44 (0) 207 107 8000 
Stewart Dickson (Nominated Adviser)                www.seymourpierce.com 
Richard Redmayne / Katie Ratner (Broker) 
 
Hudson Sandler                                 Tel: +44 (0) 207 796 4133 
 Andrew Leach / Charlie Jack / Katie Matthews      www.hudsonsandler.com

This information is provided by RNS

The company news service from the London Stock Exchange

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