TIDMATC
RNS Number : 4236F
Atlantic Coal PLC
23 May 2013
Atlantic Coal plc/Index: AIM/Epic: ATC/Sector: Mining
23 May 2013
Atlantic Coal plc ("Atlantic Coal" or the "Company")
Unaudited preliminary results for the year ended 31 December
2012
Atlantic Coal plc, the AIM listed opencast coal production and
processing company with activities in Pennsylvania, USA, is pleased
to announce its unaudited preliminary results for the year ended 31
December 2012.
2012 Highlights:
-- Increased production and sales experienced at Stockton during
2012 - 161,529 tons of clean coal produced and sales of 140,213
tons achieved (2011: 100,139 and 106,403 respectively)
-- Strengthened revenues of US$19,657,105 generated for the year
(2011: US$13,991,971) and a net gross profit of US$4,011,955 (2011:
US$226,946)
-- Reduced Group loss of US$2,661,557 (2011: loss of US$3,149,606)
-- Successful relocation of the Norfolk Southern Railroad
diversion providing access to approximately 1.0 million tons ("Mt")
of previously unworkable coal
Current Year Highlights:
-- Exercising of lease option agreement over the fully permitted
410 Pott & Bannon anthracite coal mining property in Schuykill
County believed to contain 4.1 Mt of clean coal.
-- 67% increase in clean coal production at Stockton and 91%
increase in coal sales in Q1 2013 to 53,131 tons and 53,324 tons
respectively (Q1 2012: 31,729 tons and 27,913 tons)
-- Completion of reclamation works at the Gowen Mine.
Chairman's Statement
This has been successful year for Atlantic Coal, in operational
terms, having completed the railroad diversion at our Stockton
Colliery and significantly increased both production and revenues
which, along with the acquisition of the Pott & Bannon site 25
miles away, have had a dramatic effect on the current and future
production profile of the Company and we are focussed on building
on this further in 2013.
In terms of total company Reserves, Stockton has 1.7Mt of
saleable coal and having produced 161,529 tonnes of washed
anthracite during 2012, we are currently ranked as Pennsylvania's
fifth largest producer of anthracite. Post period end, we exercised
our option to acquire a 20 year lease over the Pott & Bannon
anthracite site from Reading Anthracite Company ("RAC") which we
believe to contain 4.1Mt of saleable anthracite and importantly,
benefits from proximate established infrastructure. The
Resource/Reserve numbers will be confirmed shortly, but initial
indications underpin our confidence that this site has the
potential to more than triple our existing Reserves and production
capabilities.
The Pott & Bannon acquisition was a transformational
transaction for Atlantic Coal and having negotiated for the
majority of the GBP6.0 million transaction to be paid by coal from
our current sites, minimising the cash element payable, we believe
that this represents value for shareholders. The full terms can be
found in the announcement dated 21(st) January 2013 but in summary,
the US$6.0 million consideration payable to RAC will be satisfied
through:
-- US$500,000 cash that was being held in escrow was released to
RAC which has been applied against the sums due in respect of the
grant of the Lease
-- The delivery of 25,000 short tons of clean coal at a price of
US$120 per short ton worth US$3.0 million
-- US$2.5 million due from at the earlier date of either 12
months after mining operations commence at the property and 31
January 2015 and this sum shall be satisfied in either: (1) tons of
ROM or clean coal from any mine controlled by Atlantic Coal or; (2)
by the issue and allotment of a corresponding number of new
ordinary shares (to be determined by Atlantic Coal's Volume
Weighted Average Price for the preceding three months) in Atlantic
Coal to RAC (or, in certain circumstances, to RAC's shareholders)
(the "Consideration Shares"); or (3) in any combination of (1) and
(2). The exact method of satisfaction will be agreed between
Atlantic Coal and RAC in advance. If the parties cannot agree, then
each party will have the right to designate how half of the
US$2,500,000 will be satisfied.
On 15 February 2012 we announced that we had entered into an
option agreement to acquire additional anthracite mining assets in
Pennsylvania. This option, which was exercisable entirely at the
Company's discretion at an exercise price of US$35 million, expired
on 31(st) March 2013. Subsequent to the expiry of the option the
Company held a number of discussions with the vendor in connection
with the further extension of the option exercise period. However,
following these discussions, it was determined by the Atlantic Coal
board of directors that an agreement on principal terms could not
be achieved that would be acceptable to the Company and in the best
interests of the Company's shareholders. The Company terminated
discussions with the vendor and announced this to the market on 13
May 2013.
Included in the Group loss is $1,867,046 of new venture costs,
the majority of which relate to the above option agreement. Due to
the size of the purchase price this acquisition would have
constituted a Reverse Takeover under AIM rules which resulted in in
the Company incurring large due diligence costs including an
independent Competent Person's Report on both the acquisition
target and the existing business as well as both legal and
financial due diligence.
Operations Review
Stockton Colliery
During our last 5 years of operation, Stockton has provided us
with a highly strategic position in the Pennsylvanian Coal Field.
This anthracite-rich region is mined by family operations in the
majority and as the only public company operating in the area, we
have built a solid network and production footprint in the
region.
With its current reserves, the Stockton Colliery has an eight
year mine life and includes an anthracite preparation plant capable
of washing 300,000 tons of coal per annum of various sizes on the
premises for use in different industries.
Production hit record highs during the second half of 2012
following the successful diversion of the railroad which previously
passed through our tenure, which completed in April 2012. . This
provided us with access to over approximately 1.0Mt of previously
unworkable coal reserves at Stockton. Clean coal production hit
161,529 tons for the year (2011: 100,139 tons), representing an
increase of 61% year on year and we removed 3,728,597 Bank Cubic
Yards ("BCY") of overburden (2011: 3,257,776) representing year on
year growth of 14%. The average sales price, excluding low value
number 5 coal, achieved for the year was $150.91 (2011:
US$142.33).
The vast majority of Stockton's product is sold into the US and
Canadian market to regional industry but importantly, we expanded
our sales channels during the period as we completed our first
shipment outside North America. The cargo comprised 11,000 tons of
anthracite and was shipped from Fairless Hills Port, Philadelphia
to Germany, thereby demonstrating our mine to port
capabilities.
Pott & Bannon
The 410 acre Pott & Bannon site is located 25 miles from
Stockton and is ideally located close to major east-coast
transportation hubs.
Like Stockton, the Pott & Bannon site will mine the high
quality Mammoth Seam. The Directors believe that the site could
contain up to 13.6 million tons run-of-mine coal, equating to
approximately 4.1Mt of washed, saleable anthracite. The average
strip ratio was estimated to be 3.9 ROM. These estimates are based
on information provided to the Company in January 2012 and is
outlined in a report commissioned by RAC in January 1999 and
prepared by John T. Boyd & Company. The Company is in the
process of confirming these resource details with a qualified
competent person.
In terms of strategy for this site, following the receipt of
this updated reserve report, we will be actively pursuing an early
route to production. We have agreed with RAC to use our best
endeavours to deploy mining equipment at the property to achieve a
minimum production of 400,000 tons of ROM coal in the second year
of the Lease, provided that market conditions warrant such a level
of production. The delivery of coal to RAC as part of the purchase
consideration is being accelerated, together with permit transfer
arrangements and mine planning such that I am extremely hopeful
that site operations will commence in H1 2014.
Coal purchase agreement
As part of this transaction we also entered into a coal purchase
agreement, the full details of which can be found in the
announcement dated 21(st) January 2013. Under the terms of the
lease, RAC will have the option to purchase (at certain pre-agreed
prices) up to 50 per cent. of all sizes of standard coal each
year.
However, in the event that any portion of the US$2,500,000
consideration is paid by Atlantic Coal to RAC in the form of ROM or
clean coal from the property, then the RAC's right to purchase 50
per cent. of all sizes of standard coal from the property shall be
reduced on a ton-for-ton basis at the price of US$120 per ton until
such time as the entire consideration has been satisfied in full at
which point RAC's purchase option rights under the coal purchase
agreement will be restored in full.
Gowen Mine
Reclamation of the final 238 acres of the Gowen Mine was, apart
from grass seeding which was undertaken last month, completed
during 2012. Over 500 acres has now been reclaimed at Gowen
removing old underground and early strip mining dereliction,
rehabilitating the topography, reinstating water courses and
establishing vegetation producing substantial environmental
improvements and eradicating over 150 years of coal mining
dereliction in this area. Reclamation costs at Gowen in 2012
amounted to $1,474,202, completing a major programme of reclamation
expenditure by the Company.
Financial Review
Key financial highlights for the year to 31 December 2012
are:
2012 2011
Cash at bank $1,902,348 $6,027,771
Sales $19,657,105 $13,991,971
Gross profit $4,011,995 $226,946
Gross margin 20.41% 1.62%
Debt $6,795,468 $5,599,114
Restoration obligations $4,850,340 $5,895,601
-- The Group's cash position during 2012 decreased as we used
existing cash balances to repay debt and finance leases, complete
the Norfolk Southern Railroad diversion, complete Gowen Mine
reclamation and pursue opportunities to acquire additional
anthracite mining assets. As a result we have improved the
production capacity at our Stockton colliery and secured
significant additional coal reserves.
-- The improved trading performance of the Stockton colliery is
reflected in the increase in sales and gross profit as well as
gross margin.
-- Total debt increased in 2012 through the acquisition of
additional mining equipment through finance lease[s].
-- Restoration obligations decreased as the reclamation of the
Gowen site completed in 2012, with the exception of seeding which
was completed in April 2013.
Outlook
Having significantly bolstered our production capabilities
through acquisition and maximised production at Stockton, we look
forward to an exciting year marked by growth and value
accretion.
While our production capability has dramatically improved,
anthracite prices did soften in Q1 2013 to an average of $139.84
and we continue to see further weakness in Q2. Although some
softening after the end of the "winter home heating market season"
is normal we are experiencing an abnormal level of reduction due to
aggressive pricing by one particular producer, however, we consider
this to be short term in nature and anticipate a price recovery by
Q3 of this year.
In tandem with maintaining our production levels at Stockton,
the rapid development of the Pott & Bannon site will be a high
priority for us. We also seek to identify and evaluate
opportunities, including joint ventures, for the acquisition of
additional anthracite mining assets. These future and potential
milestones will facilitate our strategy of becoming one of the
major producers of high quality anthracite in the Pennsylvanian
area and I look forward to updating shareholders regularly as to
our progress along the way.
Finally, I would like to take this opportunity to thank our
experienced team and supportive shareholder base and look forward
to a succesful year for the Company.
**ENDS**
For further information on the Company, visit:
www.atlanticcoal.com or contact:
Steve Best Atlantic Coal plc Tel: 020 3328 5670
Nick Naylor Allenby Capital Limited Tel: 020 3328 5656
Mark Connelly Allenby Capital Limited Tel: 020 3328 5656
Alex Price Allenby Capital Limited Tel: 020 3328 5656
Elisabeth Cowell St Brides Media & Finance Tel: 020 7236 1177
Ltd
STATEMENT OF FINANCIAL POSITION
As at 31 December 2012
Company number: 05315929 Group Company
----------------------------- ----------------------------
As at 31 As at 31 As at 31 As at
December December December 31 December
2012 2011 2012 2011
$ $ $ $
Non-Current Assets
Property, plant and equipment 10,039,151 10,037,008 267,494 316,614
Land, coal rights and restoration
costs 8,283,967 7,980,327 - -
Investment in subsidiaries - - - -
Trade and other receivables - 9,441 26,159,465 22,786,441
Other assets 50,050 43,752 - -
---------------------------------------- ------------- -------------- ------------- -------------
18,373,168 18,070,528 26,426,959 23,103,055
--------------------------------------- ------------- -------------- ------------- -------------
Current Assets
Inventories 3,733,963 1,471,210 - -
Trade and other receivables 3,108,737 1,833,404 673,666 652,456
Other assets 320,979 197,971 - -
Cash and cash equivalents 1,902,348 6,027,771 1,014,699 5,941,398
---------------------------------------- ------------- -------------- ------------- -------------
9,066,027 9,530,356 1,688,365 6,593,854
--------------------------------------- ------------- -------------- ------------- -------------
Total Assets 27,439,195 27,600,884 28,115,324 29,696,909
---------------------------------------- ------------- -------------- ------------- -------------
Current Liabilities
Trade and other payables 4,338,233 3,119,637 636,977 229,036
Borrowings 5,806,892 3,828,776 - -
Provision for restoration
costs 391,049 1,841,251 - -
---------------------------------------- ------------- -------------- ------------- -------------
10,536,174 8,789,664 636,977 229,036
--------------------------------------- ------------- -------------- ------------- -------------
Non-Current Liabilities
Borrowings 988,576 1,770,338 - -
Provision for restoration
costs 4,459,291 4,054,350 - -
---------------------------------------- ------------- -------------- ------------- -------------
5,447,867 5,824,688 - -
--------------------------------------- ------------- -------------- ------------- -------------
Total Liabilities 15,984,041 14,614,352 636,977 229,036
---------------------------------------- ------------- -------------- ------------- -------------
Net Assets 11,455,154 12,986,532 27,478,347 29,467,873
---------------------------------------- ------------- -------------- ------------- -------------
Equity Attributable to
Equity Holders of the Company
Share capital 4,595,188 4,595,188 4,595,188 4,595,188
Share premium 38,670,457 38,661,407 38,670,457 38,661,407
Merger reserve 15,326,850 15,326,850 1,428,144 1,111,305
Reverse acquisition reserve (12,999,288) (12,999,288) - -
Other reserves 88,510 131,837 88,510 131,837
Translation reserve (2,391,623) (3,521,802) (6,509,238) (7,779,350)
Retained losses (31,834,940) (29,207,660) (10,794,714) (7,252,514)
---------------------------------------- ------------- -------------- ------------- -------------
Total Equity 11,455,154 12,986,532 27,478,347 29,467,873
---------------------------------------- ------------- -------------- ------------- -------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 December 2012
Group
----------------------------
For the year For the year
ended 31 ended 31
December December
2012 2011
$ $
--------------------------------------- --- --- --- ------------- -------------
Revenue 19,657,105 13,991,971
Cost of sales (15,645,110) (13,765,025)
Gross profit 4,011,995 226,946
Administration expenses (3,044,098) (3,158,662)
Exceptional expenses (1,867,046) -
Other (losses)/gains (1,060,232) 202,344
Other income 143,660 -
--------------------------------------- --- --- --- ------------- -------------
Operating Loss (1,815,721) (2,729,372)
Finance income 1,392 50,153
Finance costs (847,228) (470,387)
Loss Before Taxation (2,661,557) (3,149,606)
Income tax expense - -
--------------------------------------- --- --- --- ------------- -------------
Loss for the Year (2,661,557) (3,149,606)
------------------------------------------------------ ------------- -------------
Loss attributable to the owners
of the Parent (2,661,557) (3,149,606)
------------------------------------------------------ ------------- -------------
Loss per share attributable to the owners
of the Parent during the year:
Basic and diluted (0.07) cents (0.09) cents
CONSOLIDATED STATEMENT OF CASH FLOWS
For the year ended 31 December 2012
Group
---------------------------
For the
year For the year
ended 31 ended 31
December December
2012 2011
$ $
--------------------------------------------------------------- --- --- ------------ -------------
Cash flows from operating activities
Loss before taxation (2,661,557) (3,149,606)
Adjustments for:
* Finance income (1,392) (50,153)
* Finance costs 847,228 470,387
* Depreciation 1,452,172 946,592
* Depreciation - Stockton Mine 791,664 418,303
57,989 -
* Loss on disposal of property, plant and equipment
* Gain on Mayford debt settlement - (78,388)
* Accretion and accrued restoration costs 279,888 481,851
* Reclamation work performed (1,450,202) (1,766,825)
* Provision for doubtful debts - (16,522)
* Foreign exchange gains/(losses) 1,028,457 (179,930)
Increase in trade and other receivables (903,581) (16,483)
Increase in inventories (2,262,752) (229,978)
Increase/(decrease) in trade and other
payables 1,197,908 (1,228,487)
------------------------------------------------------------------------- ------------ -------------
Net cash used in operating activities (1,624,178) (4,399,239)
------------------------------------------------------------------------- ------------ -------------
Cash flows from investing activities
Purchase of property, plant and equipment (654,842) (3,487,321)
Purchase of land, coal rights and restoration
costs (970,253) (777,136)
Increase in deposits (454,306) (508,055)
Interest paid - (290,791)
Interest received 1,392 50,153
------------------------------------------------------------------------- ------------ -------------
Net cash used in investing activities (2,078,009) (5,013,150)
------------------------------------------------------------------------- ------------ -------------
Cash flows from financing activities
Proceeds from issue of share capital - 19,997,820
Transaction costs of share issue - (1,028,575)
Proceeds from exercise of options &
warrants - 1,550,495
Refinancing of equipment through finance 1,286,167 -
lease
Proceeds from borrowings 850,000 -
Repayments of borrowings (406,161) (3,944,281)
Interest paid (611,980) (284,628)
Finance lease payments (1,642,537) (664,934)
------------------------------------------------------------------------- ------------ -------------
Net cash (used in)/ from financing
activities (524,511) 15,625,897
Net (decrease)/increase in cash and
cash equivalents (4,226,698) 6,213,508
Exchange gains/(losses) on cash and
cash equivalents 101,275 (478,170)
------------------------------------------------------------------------- ------------ -------------
Cash and cash equivalents at beginning
of year 6,027,771 292,433
------------------------------------------------------------------------- ------------ -------------
Cash and cash equivalents at end of
year 1,902,348 6,027,771
------------------------------------------------------------------------- ------------ -------------
COMPANY CASH FLOW STATEMENT
For the year ended 31 December 2012
Company
--------------------------------
For the year For the
ended 31 year ended
December 31 December
2012 2011
$ $
------------------------------------------------------------------- --- ------------- -----------------
Cash flows from operating activities
Loss before tax (3,259,638) (12,920,669)
Adjustments for:
* Finance income (541) (50,153)
* Finance expense - 247,937
* Depreciation 68,990 5,862
* (Reversal of impairment)/impairment of investment and
loans (316,839) 10,713,692
Decrease/(increase) in trade and other
receivables 350,538 (127,670)
Increase/(decrease) in trade and other
payables 387,252 (222,426)
------------------------------------------------------------------------ ------------- -----------------
Net cash used in operating activities (2,770,238) (2,353,427)
------------------------------------------------------------------------ ------------- -----------------
Cash flows from investing activities
Loans to subsidiary (3,826,473) (9,508,822)
Repayments received from subsidiary 1,900,037 166,472
Interest received 541 50,153
Purchase of property, plant & equipment (6,841) (324,935)
Increase in deposits (325,000) (502,799)
Net cash used in investing activities (2,257,736) (10,119,931)
------------------------------------------------------------------------ ------------- -----------------
Cash flows from financing activities
Proceeds from issue of share capital - 19,997,820
Transaction costs of share issue - (1,028,575)
Proceeds from exercise of options & warrants - 1,550,495
Interest paid - (284,628)
Repayment of borrowings - (1,425,303)
Net cash from financing activities - 18,809,809
------------------------------------------------------------------------ ------------- -----------------
Net (decrease)/increase in cash and cash
equivalents (5,027,974) 6,336,451
Exchange gains/(losses) on cash and cash
equivalents 101,275 (478,170)
------------------------------------------------------------------------ ------------- -----------------
Cash and cash equivalents at beginning
of year 5,941,398 83,117
Cash and cash equivalents at end of year 1,014,699 5,941,398
------------------------------------------------------------------------ ------------- -----------------
NOTES TO THE FINANCIAL STATEMENTS
Basis of Preparation of Financial Statements
The Financial Statements have been prepared in accordance with
International Financial Reporting Standards (IFRS) as adopted by
the European Union and International Financial Reporting
Interpretations Committee (IFRIC) interpretations and the parts of
the Companies Act 2006 applicable to companies reporting under
IFRS. The Financial Statements have also been prepared under the
historical cost convention.
The Financial Statements are presented in US Dollars rounded to
the nearest dollar.
Atlantic Coal Plc, the legal parent, is domiciled and
incorporated in the United Kingdom.
The preparation of financial statements in conformity with IFRS
requires the use of certain critical accounting estimates. It also
requires management to exercise its judgement in the process of
applying the Group's Accounting Policies. The areas involving a
higher degree of judgement or complexity, or areas where
assumptions and estimates are significant to the Financial
Statements are disclosed in Note 2.
The financial information set out above does not constitute the
Company's statutory accounts within the meaning of Section 435 of
the Companies Act 2006. The figures for the year ended 31 December
2012 are based on unaudited accounts for the year ended 31 December
2012. The directors anticipate that the auditor's report, to be
issued with the Group's statutory accounts for the year ended 31
December 2012 will be unqualified.
The unaudited preliminary announcement has been prepared on the
basis of accounting policies set out in the Group's statutory
accounts for the year ended 31 December 2011.
The comparatives for the year ended 31 December 2011 are derived
from the statutory accounts for the year ended 31 December 2011.
These statutory accounts, which contain an unqualified audit report
under Section 495 of the Companies Act 2006 and which did not make
any statement under Section 498 of the Companies Act 2006, have
been delivered to the registrar of companies in accordance with
Section 441 of the Companies Act 2006.
The Company will announce its full audited financial statements
and accompanying notes in June 2013.
Segmental Information
Management has determined the operating segments based on
reports reviewed by the Board of Directors that are used to make
strategic decisions. During the year the Group had interests in two
geographical segments, the United Kingdom and the United States of
America ("USA"). Activities in the UK are mainly administrative in
nature whilst the activities in the USA relate to coal production
and sale of coal.
The reportable operating segments derive their revenue from the
sale of prepared coal to industrial and retail customers.
For the year ended 31 December For the year ended 31 December
2012 2011
--------------- ---------------------------------------------------------- -----------------------------------------------------------
Intra-segment Intra-segment Total
balances balances
USA UK Total USA UK
$ $ $ $ $ $ $ $
--------------- ------------- ------------ -------------- ------------- ------------- ------------- -------------- -------------
Revenue from
external
customers 19,657,105 - - 19,657,105 13,991,971 - - 13,991,971
Gross profit 4,011,955 - - 4,011,955 226,946 - - 226,946
Operating
profit/(loss) 1,761,297 (3,260,179) (316,839) (1,815,721) (720,182) (12,722,882) 10,713,692 (2,729,372)
Impairment - 316,839 (316,839) - - (10,713,692) 10,713,692 -
Depreciation 1,383,182 68,990 - 1,452,172 940,730 5,862 - 946,592
Depreciation
- Stockton
Mine 791,664 - - 791,664 418,303 - - 418,303
EBITDA 3,936,143 (3,191,189) (316,839) 428,115 742,034 (12,717,020) 10,713,692 (1,261,294)
--------------- ------------- ------------ -------------- ------------- ------------- ------------- -------------- -------------
Capital
expenditure 2,462,807 6,841 - 2,469,648 4,525,156 320,235 - 4,845,391
--------------- ------------- ------------ -------------- ------------- ------------- ------------- -------------- -------------
Total assets 25,483,336 28,115,324 (26,159,465) 27,439,195 20,680,975 29,696,909 (22,777,000) 27,600,884
--------------- ------------- ------------ -------------- ------------- ------------- ------------- -------------- -------------
Total
liabilities 41,795,166 636,977 (26,448,102) 15,984,041 37,907,730 229,036 (23,522,414) 14,614,352
--------------- ------------- ------------ -------------- ------------- ------------- ------------- -------------- -------------
A reconciliation of operating loss to loss before taxation is
provided as follows:
For the year ended For the year ended
31 December 2012 31 December 2011
$ $
---------------------------------------- ------------------- -------------------
Operating loss for reportable segments (1,815,721) (2,729,372)
Finance income 1,392 50,153
Finance costs (847,228) (470,387)
Loss before tax (2,661,557) (3,149,606)
---------------------------------------- ------------------- -------------------
Information about major customers
Revenues of approximately $3.056 million (2011: $2.633 million)
were derived from a single external customer. These revenues were
all generated in the USA.
Cash and Cash Equivalents
Group Company
------------------------- ----------------------------
As at 31 As at As at As at
December 31 December 31 December 31 December
2012 2011 2012 2011
$ $ $ $
-------------------------- ---------- ------------- ------------- -------------
Cash at bank and in hand 1,902,348 6,027,771 1,014,699 5,941,398
-------------------------- ---------- ------------- ------------- -------------
Loss per Share
The calculation of the basic loss per share of 0.07 cents (31
December 2011 loss per share: 0.09 cents) is based on the loss
attributable to ordinary shareholders of $2,661,557 (31 December
2011 loss: $3,149,606) and on the weighted average number of
ordinary shares of 3,868,772,016 (31 December 2011: 3,583,708,122)
in issue during the year.
The basic and diluted loss per share is the same, as the effect
of the exercise of share options and warrants would be to decrease
the loss per share.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR AJMPTMBTTMLJ
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