Update on UK Coal

RNS Number : 3865J

Hargreaves Services PLC

11 June 2014

 



For immediate release

11 June 2014

Hargreaves Services plc

("Hargreaves" or the "Company")

Update on UK Coal

Following the initial announcement on 10 April 2014, Hargreaves Services plc (AIM: HSP), the UK's leading supplier of solid fuels and bulk material logistics, provides the following update regarding its potential involvement in the proposed UK Coal managed wind down and closure plan.

It is with regret that Hargreaves announces today that, despite the efforts of the stakeholders, it has not been possible to secure a plan that it is able to support.  In these circumstances the Company is no longer able to provide loan finance and has now withdrawn from the process.

Gordon Banham, CEO of Hargreaves, said: "It is with great regret that this announcement is made today; however we would like to recognise the help and efforts of the Government, unions and other stakeholders, including Harworth Estates, in trying to develop a plan that we could support."

For further details:

Hargreaves Services	Tel: [phone]
Gordon Banham, CEO
Iain Cockburn, Finance Director
Buchanan	Tel: [phone]
Mark Court / Fiona Henson / Sophie Cowles
N+1 Singer (Nomad & Joint Broker)	Tel: [phone]
Sandy Fraser / Nick Owen
Jefferies Hoare Govett (Joint Broker)	Tel: [phone]
Sara Hale / Harry Nicholas

 

END

 

 

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