TIDMATC

RNS Number : 4646X

Atlantic Coal PLC

15 February 2012

15 February 2012

Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

Atlantic Coal plc ("Atlantic" or the "Company")

Statement re press speculation

Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, notes the recent press speculation concerning a potential acquisition of additional anthracite mining assets.

The Company confirms that it has entered into an option agreement to acquire anthracite mining assets in Pennsylvania. The option, which is exercisable entirely at the Company's discretion, has an exercise price of US$35 million and the exercise period ends on 31(st) October 2012. Due to the size of the exercise price, the acquisition of the assets in question would be likely to constitute a reverse transaction under the AIM Rules for Companies and would therefore, inter alia, be subject to shareholder approval.

However, the Company has yet to commence the in-depth due diligence process incorporating, inter alia, legal and accounting due diligence and the preparation of as Competent Persons Report. This process is likely to take a number of months to complete. There is also no guarantee that the option will be exercised and that an acquisition will ultimately be concluded. The Company will update shareholders as and when appropriate.

**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 
 Mark Connelly      Allenby Capital Limited      Tel: 020 3328 5656 
 Simon Leathers     Fox Davies Capital Limited   Tel: 020 3463 5010 
 Andy Frangos       Cornhill Capital Ltd         Tel: 020 7710 9618 
 Hugo de Salis      St Brides Media & Finance    Tel: 020 7236 1177 
                     Ltd 
 Elisabeth Cowell   St Brides Media & Finance    Tel: 020 7236 1177 
                     Ltd

This information is provided by RNS

The company news service from the London Stock Exchange

END

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