Atlantic Coal : Possible Offer Extension

21 October 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.

Atlantic Carbon Group Plc ("ACG" or the "Company")

Offer Period Extension

The Company announced on 19 September 2016 that it was in preliminary discussions with Atrum Coal NL ("Atrum" or the "Bidder") which may or may not lead to an offer being made for the entire issued share capital of the Company.

In accordance with Rule 2.6(a) of the Code, Atrum was required by no later than 5.00 p.m. on 17 October 2016 to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline was extended, with the consent of the Takeover Panel, to 5.00 p.m. on 21 October 2016 at the request of the Independent Board of the Company.

A further extension of the deadline for Atrum until 5.00 p.m. on 26 October 2016 has been granted by the Takeover Panel as the request of the Independent Board to enable the parties to progress their ongoing discussions. This deadline will only be extended further with the consent of the Panel in accordance with Rule 2.6(c) of the Code. There can be no certainty that at the end of this deadline any offer for the Company will be made by Atrum.

Further announcements will be made in due course as and when appropriate. In the meantime, shareholders are urged to take no action.

Enquiries:

Atlantic Carbon Group Plc
Adam Wilson, Chairman	0191 386 6392
Daniel Stewart & Company plc
Peter Shea / Daphne Zhang	020 7776 6550

Disclaimer

Daniel Stewart & Company plc ("Daniel Stewart") which is regulated in the United Kingdom by The Financial Conduct Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Daniel Stewart or for providing advice in relation to the matters described in this announcement.

Disclosure requirements of the Code

A copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at www.atlanticcoal.com by no later than 12 noon (London time) on 24 October 2016, being the business date following the date of this announcement.

Additional information

This announcement is not intended to, and does not, constitute or form part of an offer, invitation or the solicitation of an offer to purchase, or otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise. Any offer, if made, will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted.

The distribution of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to shareholders of ACG who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom or shareholders of ACG who are not resident in the United Kingdom will need to inform themselves about, and observe, any applicable requirements.