Last checked at 27 Jun 2014 11:37
Coalfield Resources plc
Director / PDMR Shareholding
Coalfield Resources plc (the "Company") announces that following the announcement in respect of the appointment of Geoffrey Mason as Company Secretary of the Company made on 18 June 2014, the following declaration is made in respect of his shareholding in the Company:
At the date of his appointment, Mr. Mason was interested in a total of 27,316 shares.
-ENDS-
Enquiries
Cardew Group
Anthony Cardew / Tom Horsman T: +44 (0)20 7930 0777
Notes to Editors
Coalfield Resources plc
Coalfield Resources was, until December 2012, the parent company of the UK's largest coal miner, UK Coal. In one of the most complex restructurings in UK corporate history, Coalfield Resources, which was previously known as UK Coal plc, split its operating business into two separate units - property and mining - and gifted 75% of the property business to the trustees of the mining business pension fund. At the same time, in December 2012, it relinquished control of the coal mining operations to an Employee Benefit Trust, retaining only a minority equity stake which ranked behind the debt owed to the pension funds.
Consequent upon this restructuring, Coalfield Resources effectively became a property company through its 24.9% shareholding in Harworth Estates Property Group Limited, the property business it owns jointly with the former mining companies pension fund.
In 2013, the former mining business suffered a major fire at one of its mines which caused a failure and restructuring of that business. Coalfield Resources no longer has any equity interest in the mining business.
Harworth Estates
Harworth Estates is a leading property and development company owning and managing around 31,370 acres across some 200 projects, with consent for 8,000 new homes. It specialises in regenerating coalfields and brownfield land for industrial and commercial opportunities, low carbon energy projects, residential developments and leisure uses.