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Additional Information
Market: AIM
Sector: Support Services
EPIC: HSP
Latest Price: 1,165.00p  (-0.21% Descending)
52-week High: 1,185.00p
52-week Low: 843.50p
Market Cap: 315.56M
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Hargreaves Services
www.hargreavesservices.co.uk
Hargreaves Services is a UK minerals and support services group involved in sourcing, producing, processing and handling carbon based and other bulk minerals throughout the UK and within Europe.
Hargreaves Services provides technical and project support services within the energy and waste industries.
Full Hargreaves Services profile here
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Hargreaves Services confirms merger discussions with UK Coal

10th Mar 2010, 4:36 pm Hargreaves Services confirms merger discussions with UK Coal

Hargreaves Services (AIM: HSP) confirmed that it is in early exploratory stages of reviewing a potential merger with UK Coal (LSE: UKC), responding to press speculation linking the company to the potential transaction.

“Discussions with UK Coal are at a very early stage and there is no certainty that any transaction will result,” the company said in its statement.

Yesterday, UK Coal said it is "not aware of any proposal from the group's major shareholder or any other source" in reponse to a Daily Mail story that had speculated that shareholder Peel Holdings, with a 28.3% of the company, had rejected an approach for its stake and was preparing its own cash-offer for the company.

Whilst refuting the media reports, the company informed investors that it has received a very early stage merger proposal from an unnamed party.

UK Coal noted yesterday that it has encountered continuing difficulties in the performance of its deep mines in recent months, which is having a material impact on its financial position. As previously reported, the company’s Daw Mill Colliery in the West Midlands has encountered delays. UK Coal said that preparation for production at the new face was hindered by difficult geological conditions and, as a result, the start of production on the new face is now expected during April, rather the end of March.

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