News: UNV Universal Coal Responds To Terracom's Announcement Of An Unsolicited Bid

Feb 6 (Reuters) - Universal Coal PLC (UNV) :

• RESPONDS TO TERRACOM'S ANNOUNCEMENT OF AN UNSOLICITED BID
• NO FORMAL OFFER HAS BEEN MADE TO UNIVERSAL'S SHAREHOLDERS
• NOTES THAT TERRACOM HAS NOT YET PUBLISHED AN OFFER DOCUMENT IN CONNECTION WITH POSSIBLE OFFER TO BUY REMAINING SHARES IN CO
• BID COMMITTEE CURRENTLY CONSIDERS PROPOSED TERMS IN TERRACOM ANNOUNCEMENT TO BE INADEQUATE AND INCOMPLETE
• BID COMMITTEE CONCERNED THAT IMPLIED OFFER PRICE MAY SIGNIFICANTLY UNDERVALUE CO
• BID PANEL CONCERNED IMPLIED OFFER PRICE DOES NOT TAKE INTO ACCOUNT CO'S NEAR-TERM GROWTH PROFILE
• REMAINS FOCUSED ON DELIVERING ON BUSINESS PLAN AS AN INDEPENDENT ENTITY

Source text https://reut.rs/382xEwJ

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