News Archive

12 September 2007

Directorate Change

ATH Resources plc (AIM:ATH), one of the UK’s largest coal producers, announces that John Hodgson, Group Marketing Director is to retire from the Board at the end of October 2007. John will continue as a Director of Aardvark TMC Limited (“Aardvark”), the Group’s subsidiary operating company, focussing exclusively on his specialist area of added value domestic and industrial coal sales and marketing on a part-time basis.

John joined the Group on inception in 1998 as Group Marketing Director and has been instrumental in establishing the Group’s excellent reputation for providing high quality products into all of its markets.

It is not intended that John will be replaced on the Board in the short-term. Jim Wilson as Marketing Director of Aardvark will take some additional responsibilities for coal marketing.

Commenting on John’s departure from the Board of ATH, Chief Executive Tom Allchurch said: “We would like to thank John for all of his commitment and dedication to the business. The Group looks forward to continuing to benefit from his considerable industry experience in his new role. I am enormously grateful to him for his efforts over the last nine years and in particular for the courage and example he has shown in the last three years during serious illness. We wish him all the very best in his semi-retirement.”

 

For further information:
ATH Resources
Tom Allchurch, Chief Executive		Tel: +44 (0) 1302 760 462
tom.allchurch@ath.co.uk		www.ath.co.uk
Seymour Pierce Limited
Nicola Marrin		Tel: +44 (0) 207 107 8000
	Media enquiries:
	Sarah Hollins / Georgina Bonham	Tel: +44 (0) 20 7398 7715
	georgina.bonham@abchurch-group.com	www.abchurch-group.com

Notes to Editors

ATH Resources is an AIM-listed operator of opencast coal mines in the UK with its current four operational mines, Skares Road, Grievehill, Glenmuckloch and Laigh Glenmuir in East Ayrshire in Scotland.  The Company is currently the third largest producer of coal in the UK producing approximately 2.1 million tonnes per annum.  Coal was used to generate 38 per cent of the UK’s electricity in 2006 and the Company holds coal supply contracts with four of the UK’s main electricity generating companies.

The management team has been in place since 1998.  It acquired the rights to operate (and subsequently acquire) the Skares Road mine with support from The Alchemy Plan. Following ATH Resources’ incorporation in October 2003, and backed by a follow on investment from The Alchemy Plan, the Company acquired the Garleffan mine in November 2003. Garleffan is currently being restored having finished coaling in June 2006. ATH Resources listed on the AIM market of the London Stock Exchange in June 2004.

In June 2005, having raised £18 million by way of an Open Offer, the Group acquired two new opencast sites, Grievehill and Glenmuckloch in Scotland. The acquisition increased the Group’s reserve base by 160% and provided longer term stability to the business.

In addition to its operating mines, the Company also has a number of other coal mining projects in Scotland and two through its French subsidiary, SRMMC including a series of six existing coal concessions in south-central France, covering an area of 36km, 2 with an estimated resource of approximately 4.5 million tonnes of recoverable coal.

In May 2006, the Group acquired Doncaster-based A Ogden & Sons Limited, subsequently rebranded ATH Regeneration Ltd, a successful coal recovery, land remediation and regeneration business with a particular focus on colliery spoil heap reclamation projects.  ATH paid net £9.5 million for the business.  The acquisition, which was earnings enhancing, allowed ATH to build on its skills as a regenerator of land, whilst developing strong relationships with key English planning authorities.  The Company has been successfully integrated into the Group. The operational diversification that the acquisition brings to the Group will be a significant driver of ATH’s organic growth going forward.

For the year ending 1 October 2006, the Group achieved turnover of £54.1 million, an increase of 38% on its 2005 year end, while EBITDA was up 68% to £19.2 million for the same period.

Further information on ATH Resources can be found at www.ath.co.uk.

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