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ATH Resources

  • BY: Andrew Hore |
  • POSTED: 05/12/2012 |

A subsidiary of BECAP Fund has placed ATH Resources into administration following the failure of the coal miner to repay debt on demand.

BECAP acquired the debt last month and committed £15m to the new special purpose vehicle BECAP Capital Coal, which holds the bank facilities and certain rights. The debt facilities were £18m at the end of September but they needed to be increased.

The administrator is KPMG.

Trading in the shares has been suspended at 0.33p, which valued ATH at £130,000.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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