On 5th December 2012, Will Wright, Brian Green and Allan Graham of KPMG were appointed Joint Administrators of ATH Resources plc.
ATH Resources plc is the parent company of the trading business which operates four open cast mine businesses in Ayrshire, Scotland.
The four mines will continue to trade and operate as normal and are unaffected by the administration of their parent company. The administrators are looking at the restructuring options for the trading subsidiaries including selling the businesses.
Will Wright, Joint Administrator, said: “Our appointment only affects the group’s parent company and the main trading businesses within the group are unaffected by our appointment. They continue to trade as normal under the control of their directors.
“We are now looking at all the options, including a sale of the business, working with the directors and the other key stakeholders to try and find a solution that sees trading of the parent company continue.”
Share trading in AIM-listed ATH Resources plc has been suspended.
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The BIG Partnership
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Notes to editors
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.