For immediate release |
10 April 2014 |
Hargreaves Services plc
("Hargreaves" or the "Company")
Re Government announcement on UK Coal
Hargreaves Services plc (AIM: HSP), the UK's leading supplier of solid fuels and bulk material logistics, notes the Government's decision today to support, in principle, the managed wind down and closure of UK Coal.
Hargreaves confirms that it is working closely with Government and key stakeholders with the intention of providing marketing and operational support on commercial terms, including the provision of a £5m secured loan.
Gordon Banham, CEO of Hargreaves, said: "The planned closure of UK Coal marks a sombre day for the UK's coal industry. We, alongside Government and other stakeholders, feel a responsibility to support a well-managed and respectful wind-down of UK Coal's operations, which employ around 2,000 people. In addition to the proposed £5m loan, we would assist in the marketing of UK Coal stocks and provide a range of support services."
For further details:
Hargreaves Services |
Tel: 0191 373 4485 |
Gordon Banham, CEO |
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Iain Cockburn, Finance Director |
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Buchanan |
Tel: 020 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
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N+1 Singer (Nomad & Joint Broker) |
Tel: 0207 496 3000 |
Sandy Fraser / Nick Owen |
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Jefferies Hoare Govett (Joint Broker) |
Tel: 020 7029 8000 |
Sara Hale / Harry Nicholas |
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