News blog
Atlantic Coal/Strategic Natural Resources
- BY: Andrew Hore |
- POSTED: 10/08/2009 |
- COMMENTS: Add yours
Atlantic Coal has acquired a 9.99% stake in fellow coal miner Strategic Natural Resources and is considering a full bid.
US-focused Atlantic has paid 8.25p a share for the stake in South Africa-based SNR. Atlantic says that it is considering a bid of 15p a share. The payment would be in a combination of cash and Atlantic shares.
HB Corporate is nominated adviser to both companies.
The news sparked a 4.875p jump in the SNR share price to 13p a share, which values the coal miner at £8.9m.
On 16 July 2009, SNR revealed that it was in talks with JSE-listed Absolute Holdings Ltd about a bid for Absolute.
Shares in Atlantic rose 0.075p to 0.65p each, which values the company at £8.73m.
Atlantic has raised £280,000 via a placing at 0.66p a share. That paid for half of the £564,000 spent on the SNR stake.
Atlantic lost £3.93m on revenues of £2.23m in 2008.
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- 2.4mNumber of messages posted on SocialGo networks
- $38mCost savings generated by ideas from WalMart staff over a two month period
- 19.4m
Number of people passing through Johannesburg Airport in 2007
- News Blog
- All micro news
Geong International Ltd
Geong International Ltd says that it considered a Hong Kong listing but it has no intention of moving ahead with this.
1PM
Asset finance provider 1PM has secured £700,000 of additional funding from two separate loans.
African Land
African Land is the latest agricultural business planning to join Aim.
Fiske
Broker Fiske says its second quarter trading was disappointing and it expects markets to continue to be lacklustre.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|