Maltby Colliery Redundancy Consultation Process

RNS Number : 1584O

Hargreaves Services PLC

08 October 2012

 



For immediate release

8 October 2012

HARGREAVES SERVICES PLC

(the "Group" or "Hargreaves")

Maltby Colliery Redundancy Consultation Process

Hargreaves Services plc (AIM: HSP), the UK's leading supplier of solid fuels and bulk material logistics, announces that it will today issue the employees at Maltby Colliery with notification of potential redundancies.

This follows the Group's preliminary results statement, issued on 25^th September 2012, in which the intention to review and consider the future of Maltby Colliery was highlighted. The Company will shortly begin consultation regarding potential redundancies. This consultation process will last for a minimum of 90 days. Initiating this process is considered to be prudent business practice and does not indicate that a decision on the future of Maltby has been taken. The relevant Government department is being notified.

The Board of Hargreaves still expects to receive reports later in October that will advise on the geological, financial and health and safety risks associated with the T125 panel at the mine. The decision by the Board on the future of the colliery will be based on the conclusions of these reports.

For further details:

Hargreaves Services	0191 373 4485
Gordon Banham, CEO
Iain Cockburn, Finance Director
Buchanan	020 7466 5000
Tim Anderson/Fiona Henson
N+1 Brewin	020 7248 4400
Sandy Fraser/Nick Owen
Jefferies Hoare Govett	020 7029 8000
Sara Hale/Harry Nicholas

 

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