Royal Energy Resources Statement of Intention Not to Make an Offer for Atlantic Carbon Group PLC
October 11 2016 - 4:51PM
Marketwired
Royal Energy Resources Statement of Intention Not to Make an
Offer for Atlantic Carbon Group PLC
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
CHARLESTON, SC-(Marketwired - Oct 11, 2016) - On September 20,
2016, Atlantic Carbon Group PLC ("Atlantic") announced under Rule
2.4 of the City Code of Takeovers and Mergers ("Code") that it had
received a preliminary approach from Royal Energy Resources, Inc.
("Royal") (OTCQB: ROYE) regarding a possible offer. On September
26, 2016, Royal confirmed that it was in discussions with
Atlantic.
Following due diligence on the limited information made
available by Atlantic, Royal has determined that there is
insufficient engagement regarding a potential offer and therefore
Royal does not intend to make an offer for Atlantic.
This announcement is made in accordance with Rule 2.8 of the
Code. As a result of this announcement, Royal will, except with the
consent of the UK Panel on Takeovers and Mergers, be bound by the
restrictions contained in Rule 2.8 of the Code.
A copy of this news release will be posted on
www.royalenergy.us.
About Royal Energy Resources, Inc.
Royal Energy Resources, Inc. is a diversified energy company
focused on coal and energy related assets and activities, including
energy infrastructure investments. Royal's portfolio of companies
operate nine mines, including four underground and five surface
mines, located in Kentucky, Ohio, West Virginia and Utah. In
addition to operating coal properties, Royal has royalty-based
investments in conventional and refined coals, as well as joint
ventures to provide sand for fracking operations, and for the
transportation of hydrocarbons and drilling support services in the
Utica Shale region, and other oil and natural gas basins in the
United States. Additional information regarding Royal is available
on its web site - www.royalenergy.us
Forward Looking Statements
This press release includes forward-looking statements as
defined in Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934 relating to matters such
as prospects, anticipated operating and financial performance.
Actual prospects and performance may differ from anticipated
results due to economic conditions and other risks, uncertainties
and circumstances partly or totally outside the control of the
Company. These and other risks are described in the Company's
reports filed with the United States Securities and Exchange
Commission. These forward-looking statements are made only as of
the date of this communication and Royal Energy Resources, Inc.
undertakes no obligation to update or revise these forward-looking
statements.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
Royal undertakes no obligation to publicly update or revise any
forward-looking statements after the date they are made, whether as
a result of new information, future events or otherwise, unless
required by law.
Investor Contact: William Tuorto +1 843-900-7693
info@royalenergy.us
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