ATH Resources plc Statement regarding Share Price Movement (0276S)

TIDMATH

RNS Number : 0276S

ATH Resources plc

26 November 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 
 26 November 2012

ATH Resources plc

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

Statement regarding Share Price Movement

ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, notes the recent price movement and confirms that it has appointed KPMG LLP to explore the sale of the Company, its business and assets or restructuring options that may be available to the Directors of the Group.

It should be noted that this work is at a very early stage and there can be no certainty that a transaction will be entered into or as to the terms of any such transaction, should one be commenced. However, the Directors believe that in the eventuality that a transaction is undertaken, it is unlikely existing shareholder value will be maintained.

As a result of this announcement an Offer Period has commenced in relation to the Company.

The Board will make further announcements as necessary in due course.

In accordance with Rule 2.10 of the Code, the Company confirms that it has 40,075,158 Ordinary Shares of 0.5p each in issue, and admitted to trading on AIM under the UK ISIN GB00B013H730.

A copy of this announcement will be made available on the Company's website at www.ath.co.uk

For further information:

 
 ATH Resources plc 
 David Port, Non-Executive Chairman     Tel: +44 (0) 7836 693798 
  Alistair Black, Chief Executive      Tel: +44 (0) 1302 760 462 
                                                   www.ath.co.uk 
 
 
 Seymour Pierce Ltd 
 Stewart Dickson / Richard Redmayne       Tel: +44 (0) 207 107 8000 
  (Financial Adviser, Nominated Adviser 
  & Broker) 
                                              www.seymourpierce.com

Media enquiries:

 
 Hudson Sandler 
 Andrew Leach / Charlie Jack / Katie   Tel: +44 (0) 20 7796 4133 
  Matthews 
                                           www.hudsonsandler.com

Seymour Pierce Limited ("Seymour Pierce"), which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for ATH and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than ATH for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to other jurisdictions should inform themselves of, and observe, any applicable requirements.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

This information is provided by RNS

The company news service from the London Stock Exchange

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