Gains New York Quotation To Expand (1633N)
30 August 2011 - 4:01PM
UK Regulatory
TIDMATC
RNS Number : 1633N
Atlantic Coal PLC
30 August 2011
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
30 August 2011
Atlantic Coal plc ("Atlantic" or the "Company")
Gains Quotation on the OTCQX in New York
Atlantic Coal plc, the AIM listed open cast coal production and
processing company with activities in Pennsylvania, USA, is pleased
to announce that Atlantic shares will be admitted to trading, under
the symbol 'ATCLY', on the OTCQX Market International platform of
the Pink Sheets LLC ("OTCQX") in New York for the recently
established sponsored unlisted American Depositary Receipt ("ADR")
facility, for which BNY Mellon acts as depositary bank. The entire
issued ordinary share capital will continue to trade on the AIM
market in London, United Kingdom under the symbol ATC.
The Board believe that quotation on OTCQX will benefit existing
shareholders by making its shares more accessible to US investors
and providing Atlantic Coal with increased visibility within the
country where its primary asset the Stockton Colliery ("Stockton"),
a producing anthracite mine in Pennsylvania, is located. With
production increasing at Stockton and improvements in financial
performance as announced on 23 August 2011, the Board believes that
the Company is now in a position to benefit from the listing,
especially in relation to its defined growth strategy to increase
its resource base through the acquisition of synergistic assets in
the region.
Rodman and Renshaw, LLC will serve as Atlantic's Participating
American Liaison on OTCQX, providing guidance on its requirements
and assisting with the Company's capital and corporate access
initiatives in the United States.
Atlantic Managing Director Steve Best said, "We are delighted to
have an ADR programme and to be quoted on OTCQX market today which
is a key milestone for Atlantic in building market awareness in the
Company and expanding its shareholder base. We already have a
strong presence in the prime anthracite coal field through the
Stockton Colliery, which has a current reserve of 3.1 million tons
of run of mine anthracitic coal and we are committed to increasing
this, in what is a prime anthracite coal field. In line with this
we have been evaluating various assets and the Board believes that
quotation on OTCQX will assist and strengthen our position in this
regard."
Investors can find current financial disclosure and real-time
quotes for the Company on www.otcqx.com.
**ENDS**
For further information on the Company, visit:
www.atlanticcoal.com or contact:
Steve Best Atlantic Coal plc Tel: 020 3328 5670
Nick Naylor Allenby Capital Limited Tel: 020 3328 5656
Alex Price Allenby Capital Limited Tel: 020 3328 5656
Peter Rose FoxDavies Tel: 020 3463 5030
Simon Leathers FoxDavies Tel: 020 3463 5010
Hugo de Salis St Brides Media & Finance Tel: 020 7236 1177
Ltd
Elisabeth Cowell St Brides Media & Finance Tel: 020 7236 1177
Ltd
Notes
Atlantic Coal plc is an AIM listed coal production and
processing company focussed predominantly on open cast mining and
the processing of anthracite coal in Pennsylvania, USA. The
Company's primary asset is the Stockton Colliery, a producing
surface coal mine and adjacent anthracite preparation plant
encompassing an area of approximately 900 hectares located in Hazel
Creek in North-East Pennsylvania, which has current Proven Reserves
of 3.2 million tons run-of-mine coal.
Atlantic's strategy is to create a significant mid-tier coal
company; both through the expansion of activities at Stockton and
identifying additional sites in Pennsylvania to build its
production and resource profile, primarily by acquiring defined
assets in stable, recognised, high quality coal regions. The Board
has identified opportunities to expand within the region and is
involved in ongoing negotiations regarding adjacent sites, with the
intention of acting as a regional consolidator in the Pennsylvanian
Coal Field. Expansion within the local area has the potential to
minimise upfront deal costs as a result of existing and proven
infrastructure, equipment, facilities and market demand.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's
largest electronic marketplace for broker-dealers to trade unlisted
stocks. Its OTC Link (TM) platform supports an open network of
competing broker-dealers that provide investors with the best
prices in over 10,000 OTC securities. In 2010, securities on OTC
Link traded over $144 billion in dollar volume, making it the third
largest U.S. equity trading venue after NASDAQ and the New York
Stock Exchange. OTC Markets categorizes the wide spectrum of
OTC-traded companies into three tiers - OTCQX (the
quality-controlled marketplace for investor friendly companies),
OTCQB((R)) (the U.S. reporting company marketplace for development
stage companies), and OTC Pink((TM)) (the speculative trading
marketplace) - so investors can identify the level and quality of
information companies provide. To learn more about how OTC Markets
Group makes the unlisted markets more transparent, informed, and
efficient, visit www.otcmarkets.com.
About BNY Mellon
BNY Mellon acts as depositary for more than 2,100 American and
global depositary receipt programmes, acting in partnership with
leading companies from 67 countries. With an unrivalled commitment
to helping securities issuers succeed in the world's rapidly
evolving financial markets, the Company delivers the industry's
most comprehensive suite of integrated depositary receipt,
corporate trust and stock transfer services. Additional information
is available at www.bnymellon.com/dr.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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