HARGREAVES SERVICES PLC

Legal Proceedings Report • Apr 10, 2014

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 5482E

Hargreaves Services PLC

10 April 2014

For immediate release	10 April 2014

Hargreaves Services plc

("Hargreaves" or the "Company")

Re Government announcement on UK Coal

Hargreaves Services plc (AIM: HSP), the UK's leading supplier of solid fuels and bulk material logistics, notes the Government's decision today to support, in principle, the managed wind down and closure of UK Coal.  

Hargreaves confirms that it is working closely with Government and key stakeholders with the intention of providing marketing and operational support on commercial terms, including the provision of a £5m secured loan.

Gordon Banham, CEO of Hargreaves, said: "The planned closure of UK Coal marks a sombre day for the UK's coal industry. We, alongside Government and other stakeholders, feel a responsibility to support a well-managed and respectful wind-down of UK Coal's operations, which employ around 2,000 people. In addition to the proposed £5m loan, we would assist in the marketing of UK Coal stocks and provide a range of support services."

For further details:

Hargreaves Services	Tel: 0191 373 4485
Gordon Banham, CEO
Iain Cockburn, Finance Director
Buchanan	Tel: 020 7466 5000
Mark Court / Fiona Henson / Sophie Cowles
N+1 Singer (Nomad & Joint Broker)	Tel: 0207 496 3000
Sandy Fraser / Nick Owen
Jefferies Hoare Govett (Joint Broker)	Tel: 020 7029 8000
Sara Hale / Harry Nicholas

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCKMGMDMGZGDZM