Last checked at 4 Dec 2012 08:01
04 December 2012
UK COAL PLC
("UK COAL" or "the Company")
Change of listing category on the Official List
and Update on Restructuring
UK Coal announces that following the passing of a resolution by its shareholders at the general meeting held on 5 November 2012, the Company's listing category was transferred from "premium listing (commercial company)" to "standard listing" at 8.00am today.
UK Coal continues to progress towards the restructuring announced earlier in the year, which was set out in the circular sent to shareholders on 18 October 2012 (the "Circular"). The Company today confirms that the substantive terms and conditions of this complex restructuring have now been agreed and are in a form substantially similar to those set out in the Circular. Most of the documentation required to implement the restructuring has now been prepared or is in the course of final preparation and agreement with key stakeholders.
UK Coal anticipates that the restructuring will be implemented over the coming weekend and will notify the market of the outcome of this process early next week.
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Enquiries
Analysts and investors
Jonson Cox Chairman, UK Coal Tel: 01302 755 002
David Brocksom Group Finance Director, UK Coal Tel: 01302 755 002
Media
Anthony Cardew / Alexandra Stoneham Cardew Group Tel: 020 7930 0777
Andrew Mackintosh Director of Communications, UK Coal Tel: 020 7930 0777