HARGREAVES SERVICES (LSE:HSP)

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Last trade:
789.5
Change:
 -9.5 (-1.19%)
Volume:
14,039
Delayed price:
14:22:42
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GBX

Hargreaves Services notes sale of Hatfield Colliery

Hargreaves Services has noted the sale of the business and assets of Hatfield Colliery Limited to Hatfield Colliery Partnership Limited, a company ultimately owned and controlled by an employee benefit trust. This transaction sees the ultimate equity ownership of the mine transfer from ING Bank to a trust run for the benefit of the employees. Hargreaves has assisted in the restructure by, among other things, entering into a new contract with HCPL on substantially the same terms as the existing off-take contract, which had approximately one year left to run. Hargreaves has also entered into a further off-take contract that extends into the second half of 2015.