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ATH Resources

  • BY: Andrew Hore |
  • POSTED: 01/03/2013 |

Aim-quoted Hargreaves Services has acquired the debt of coal miner ATH Resources from Better Capital but there will be nothing for ATH shareholders.

Hargreaves paid Better Capital £5m for £12.5m of debt secured over the assets of ATH and its subsidiaries. Hargreaves has been keen to become involved in surface mining in Scotland.

Hargreaves intends to restructure the business with the help of its management. This should enable viable sites to continue producing coal and create a new structure to sort out historic restoration obligations. The Scottish government is supportive.

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

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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