Change of Listing and Update on Restructuring

RNS Number : 6325S

UK Coal PLC

04 December 2012

 



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: [phone]

David Brocksom                                               Group Finance Director, UK Coal              Tel: [phone]

Media

Anthony Cardew / Alexandra Stoneham Cardew Group                                                Tel: [phone]

Andrew Mackintosh                                       Director of Communications, UK Coal    Tel: [phone]

 

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