Published: January 13, 2016 |

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US- focused coal miner Atlantic Coal is set to depart from AIM after shareholders approved the resolution at a meeting yesterday.

Also approved was a change of name to Atlantic Carbon expected to become effective on or around January 24 - the shares having been cancelled on January 21.

As revealed last month, the firm is considering a takeover of a nearby rival for eight times Atlantic’s current market value, which would under AIM rules be considered a reverse takeover and not a cost effective way to pursue the deal.

Atlantic’s main asset in Pennsylvania is the Stockton mine, which is booming at present, but its mine life is finite and more anthracite resources are needed to maintain the current high production levels.

Atlantic said today that following the shares cancellation from AIM, it plans to make available to shareholders an off-market trading facility, run by Capita Asset Services, based on matching bargains, where buyers’ and sellers’ price expectations match.

The firm will review the service regularly to consider whether it remains cost-effective and in the best interests of shareholders, it added.

Source: (January 12, 2015) Proactive Investors

About Atlantic Coal
Atlantic Coal Plc is a UK based anthracite mining and processing company which is on course to become the leading US producer of high quality anthracite coal. Our focus of operations is on the North East Pennsylvanian Coalfield, USA, where we have our flagship operation Stockton Mine.

To stop by Atlantic Coal’s website, CLICK HERE

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