HARGREAVES SERVICES PLC

Legal Proceedings Report • Oct 10, 2018

National Storage Mechanism | Additional information

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

RNS Number : 6269D

Hargreaves Services PLC

10 October 2018

Hargreaves Services plc

(the "Hargreaves" or the "Group")

Wolf Minerals Limited

The Board of Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, notes the latest announcement, made today, by Wolf Minerals Limited ("Wolf") (AIM: WLFE). The Group supplies contract mining services to Wolf's tungsten mining operation at Hemerdon, Devon.

The latest announcement from Wolf states that it has been unable to satisfactorily conclude its discussions with its key financial stakeholders and therefore is not in a position to meet its short term working capital requirements in order to continue operations at its mine. Consequently, Wolf's wholly owned subsidiary, Wolf Minerals (UK) Limited, which is a customer of the Group, has ceased trading effective immediately and voluntary administrators have been appointed.

It is not yet clear how the administrators intend to proceed and as a result Hargreaves is not able to add any further information to the statement issued by the Group on 9 October 2018.

For further details: 

Hargreaves Services plc Gordon Banham, Chief Executive Officer John Samuel, Group Finance Director	0191 373 4485
Buchanan (Financial PR) Mark Court/Sophie Wills/Henry Wilson	0207 466 5000
N+1 Singer (Nomad and Joint Corporate Broker) Sandy Fraser/Rachel Hayes	0207 496 3000
Investec (Joint Corporate Broker)                                                            0207 597 4000 Sara Hale/Helene Comitis

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUROURWRARAAA