10 Aug 2009 17:20
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
Atlantic Coal plc
('Atlantic' or 'the Company')
Acquisition of Interest in Strategic Natural Resources plc
Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, announces that on 7 August 2009 it purchased 6,840,000 ordinary shares of 1p each in Strategic Natural Resources plc ('SNR') representing 9.99% of SNR's issued share capital, for cash at 8.25p per share. Atlantic has no other interests in SNR shares.
Atlantic is considering its position regarding a possible offer for SNR. If any offer is made, it will be at a minimum price of 15p per SNR share, such price being a premium of 84.6% to the middle market price of 8.125p per SNR share as at close of business on 7 August 2009, being the dealing day before the commencement of the offer period. If any offer is made, the consideration would be a mixture of new ordinary shares in Atlantic and cash.
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Atlantic confirms that it has 1,343,096,350 ordinary shares of 1 pence each in issue. The International Securities Identification Number (ISIN) for Atlantic's ordinary shares is GB00B142G994. This information is given in accordance with rule 2.10 of the Takeover Code.
It is emphasised that this announcement does not amount to a firm intention to make an offer and it is possible that no offer will be made.
A further announcement will be made in due course.
**ENDS**
For further information on the Company, visit: www.atlanticcoal.com or contact:
| Stephen Best | Atlantic Coal plc | Tel: 020 7182 1747 |
| Greg Kuenzel | Atlantic Coal plc | Tel: 020 7182 1747 |
| Imran Ahmad | HB Corporate Limited | Tel: 020 7510 8600 |
| Nick Athanas | HB Corporate Limited | Tel: 020 7510 8600 |
| Daniel Fox Davies | Fox Davies Capital Ltd | Tel: 020 7936 5230 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
| Chris Welsh | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
Dealing Disclosure Requirements
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of SNR by Atlantic, or of Atlantic by SNR, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
The persons responsible for this announcement are the directors of Atlantic. To the best of the knowledge and belief of the directors of Atlantic the information in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.