Universal Coal Plc [UNV] - Response to media speculation regarding strategic investors
Universal Coal plc (ASX: UNV) has advised the Company is reviewing the appointment of advisors to assist with informal approaches regarding its coking coal projects in the north of South Africa.
The Company expects increasing interest in these assets, and as a result, and following a number of informal approaches and discussions from groups within the steel sector, Universal may appoint specialist advisors to assist in securing a strategic investor for the coking and thermal coal assets.
Universal has not received a formal statement or offer from any party regarding these assets. The Company continues to be in discussions with various equity investors and industrial groups in the steel and power generation sectors regarding its operations in South Africa as part of its ongoing investor relations and communications programs.