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 In these circumstances the Company is no longer able to provide loan finance and has now withdrawn from the process.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: 0191 373 4485 |
Gordon Banham, CEO |
|
Iain Cockburn, Finance Director |
|
|
|
Buchanan |
Tel: 020 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
|
|
|
N+1 Singer (Nomad & Joint Broker) |
Tel: 0207 496 3000 |
Sandy Fraser / Nick Owen |
|
|
|
Jefferies Hoare Govett (Joint Broker) |
Tel: 020 7029 8000 |
Sara Hale / Harry Nicholas |
|
