Atlantic Coal PLC Interim Results -5-
September 27 2012 - 1:00AM
UK Regulatory
A reconciliation of the movements in the number of options and
warrants outstanding and exercisable during the period is as
follows:
Number
Outstanding as at 1 January 2012 560,283,449
---------------------------------- ------------
Exercised -
Expired -
Outstanding as at 30 June 2012 560,283,449
---------------------------------- ------------
Exercisable at 30 June 2012 560,283,449
9. Other Reserves
Share option
reserve
$
At 1 January 2012 131,837
Options and warrants exercised -
Options and warrants expired -
At 30 June 2012 131,837
-------------
10. Borrowings
On 7 March 2012 Stephen Best, a Director of Atlantic Coal took
assignment of a debt totalling GBP153,890 owed to Religare Capital
Markets Plc by Coal Contractors (1991) Inc. The fair value of the
debt at the date of assignment was GBP153,890.
11. Events after balance sheet date
On 31 July 2012 the loan reassigned from Religare Capital Plc to
Stephen Best on 7 March 2012 was repaid in full with a cash payment
of GBP132,532.
On 25 September 2012 the Company agreed an extension with
Reading Anthracite Company to extend the lease option agreement
over the Pott & Bannon anthracite mining property until 27
March 2013 which will enable the completion of due diligence. There
were no costs incurred by Company in receiving this extension.
Further details in relation this extension are contained in the
Company's announcement on 26 September 2012.
12. Approval of interim financial statements
The Condensed interim financial statements were approved by the
Board of Directors on 26 September 2012.
13. Copies of report:
Copies of these Interim results will be sent to shareholders
upon request. Otherwise, shareholders will be able to download a
copy of the interim results from the Company's website
www.atlanticcoal.com. Further copies will be available from the
Company Secretary, Manu Consulting Limited, at Atlantic Coal Plc,
200 Strand, London WC2R 1DJ.
Independent Review Report to Atlantic Coal Plc
Introduction
We have been engaged by Atlantic Coal Plc to review the
condensed set of Financial Statements in the half-yearly financial
report for the six months ended 30 June 2012 which comprise the
condensed consolidated income statement, condensed consolidated
statement of comprehensive income, condensed consolidated balance
sheet, consolidated statement of changes in equity, condensed
consolidated cash flow statement and related notes. We have read
the other information contained in the half-yearly financial report
and considered whether it contains any apparent misstatements or
material inconsistencies with the information in the condensed set
of Financial Statements.
Directors' Responsibilities
The half-yearly financial report is the responsibility of, and
has been approved by, the Directors. The Directors are responsible
for preparing the half-yearly financial report in accordance with
the AIM Rules for Companies.
The annual Financial Statements of the Group are prepared in
accordance with IFRSs as adopted by the European Union. The
condensed set of Financial Statements included in this half-yearly
financial report has been prepared in accordance with the
requirements of the AIM Rules for Companies.
Our Responsibility
Our responsibility is to express to the Company a conclusion on
the condensed set of Financial Statements in the half-yearly
financial report based on our review. This report, including the
conclusion, has been prepared for and only for the Company for the
purpose of the AIM Rules for Companies and for no other purpose. We
do not, in producing this report, accept or assume responsibility
for any other purpose or to any other person to whom this report is
shown or into whose hands it may come save where expressly agreed
by our prior consent in writing.
Scope of review
We conducted our review in accordance with the International
Standard on Review Engagements 2410 "Review of Interim Financial
Information Performed by the Independent Auditor of the Entity"
issued by the Auditing Practices Board for use in the United
Kingdom. A review of interim financial information consists of
making enquiries, primarily of persons responsible for financial
and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit
conducted in accordance with International Standards on Auditing
(UK and Ireland) and consequently does not enable us to obtain
assurance that we would become aware of all significant matters
that might be identified in an audit. Accordingly, we do not
express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that
causes us to believe that the condensed set of Financial Statements
in the half-yearly financial report for the six months ended 30
June 2012 is not prepared, in all material respects, in accordance
with the AIM Rules for Companies.
Littlejohn LLP
Chartered Accountants and Registered Auditors
1 Westferry Circus
Canary Wharf
London
E14 4HD
26 September 2012
This information is provided by RNS
The company news service from the London Stock Exchange
END
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