Hargreaves Services plc
(the "Hargreaves" or the "Group")
Wolf Minerals Limited
The Board of Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, notes the latest announcement, made today, by Wolf Minerals Limited ("Wolf") (AIM: WLFE). The Group supplies contract mining services to Wolf's tungsten mining operation at Hemerdon, Devon.
The latest announcement from Wolf states that it has been unable to satisfactorily conclude its discussions with its key financial stakeholders and therefore is not in a position to meet its short term working capital requirements in order to continue operations at its mine. Consequently, Wolf's wholly owned subsidiary, Wolf Minerals (UK) Limited, which is a customer of the Group, has ceased trading effective immediately and voluntary administrators have been appointed.
It is not yet clear how the administrators intend to proceed and as a result Hargreaves is not able to add any further information to the statement issued by the Group on 9 October 2018.
For further details:
Hargreaves Services plc Gordon Banham, Chief Executive Officer John Samuel, Group Finance Director |
0191 373 4485 |
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Buchanan (Financial PR) Mark Court/Sophie Wills/Henry Wilson |
0207 466 5000 |
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N+1 Singer (Nomad and Joint Corporate Broker) Sandy Fraser/Rachel Hayes |
0207 496 3000 |
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Investec (Joint Corporate Broker) 0207 597 4000 Sara Hale/Helene Comitis |
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