Confirmed as Preferred Bidder

RNS Number : 4970E

Hargreaves Services PLC

10 May 2013

 



For immediate release                                                                                                10 May 2013

HARGREAVES SERVICES PLC

("Hargreaves" or "the Company")

Confirmed as preferred bidder for certain Scottish Coal assets

Hargreaves Services plc (AIM: HSP), the UK's leading supplier of solid fuels and bulk material logistics, is pleased to confirm that it has been named by the Joint Interim Liquidators of The Scottish Coal Company Limited ("Scottish Coal"), as the preferred bidder for certain assets of Scottish Coal and its related companies.

Hargreaves has been granted a period of exclusivity of six weeks to conduct due diligence on the Scottish Coal assets.

A further announcement will be made in due course.

Gordon Banham, CEO of Hargreaves, said:"We are pleased to be confirmed as preferred bidder for certain Scottish Coal assets. It represents an important opportunity to accelerate our strategy of creating a sustainable mining operation in Scotland founded on profitable sites operated with environmental responsibility."

For further details:

Hargreaves Services	0191 373 4485
Gordon Banham, Group Chief Executive
Iain Cockburn, Group Finance Director
Buchanan	020 7466 5000
Mark Court / Fiona Henson / Sophie Cowles
N+1 Singer (Nomad & Joint Broker)	020 7496 3000
Sandy Fraser / Nick Owen
Jefferies International Limited (Joint Broker)	020 7029 8000
Sara Hale / Harry Nicholas

 

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