18 Dec 2012 16:30
BETTER CAPITAL PCC LIMITED 2009 Cell
18 December, 2012
Better Capital PCC Limited (the "Company") has beenupdated on the position of BECAP Fund LP and its subsidiary BECAP Capital Coal Limited (the "Lender") further to the announcement on 19 November 2012 regarding the acquisition of certain bank facilities of ATH Resources Plc and its subsidiary.
Following the debt purchase, representatives, advisors and consultants of the Lender and its subsidiaries worked with key stakeholders in an attempt to secure the acquisition of the business and further investment in its future. To date it has not been possible to reach the agreements necessary for the acquisition.
As part of the on-going process, the Lender has agreed a two month standstill period (which ends on 14 February 2013) with Aardvark TMC Limited (the main trading entity of the ATH group of companies) during which the directors will continue to seek to secure a consensual restructure of the business with all key stakeholders.
Enquiries:
Better Capital PCC Limited +44 (0)1481 716 000
Mark Huntley (Director)
Laurence McNairn (Administrator and Company Secretary)
Better Capital LLP +44 (0)20 7440 0840
Jon Moulton (Chairman)
Nick Sanders (Head of Portfolio)