LONDON, UNITED KINGDOM--(Marketwired - Feb. 13, 2014) - Cenkos Securities PLC of 6-8 Tokenhouse Yard, London, EC2R 7AS, United Kingdom ("Cenkos") announced today that on 6th February, 2014, Cenkos, the Nominated Adviser and broker in the United Kingdom to EastCoal Inc. (the "Issuer") and in respect of its common shares which are listed on both the TSX Venture Exchange and admitted to trading on AIM (the "Common Shares"), acquired an aggregate of 3,996,435 Common Shares at a price of GBP£0.001 per share and 350,000 Common Shares at a price of CAD$0.00183 per share and disposed of an aggregate of 120,000 Common Shares at a price of GBP£0.0055 per share and 500,000 Common Shares at a price of CAD$0.00999 per share (the "Dealings").
Prior to the Dealings, Cenkos beneficially owned and exercised full control and direction over an aggregate of 5,239,919 Common Shares of the Issuer. As a result of the Dealings, Cenkos beneficially owned and exercised control and direction over an aggregate of 8,966,354 Common Shares representing an interest of approximately 12.32% of the Issuer's 72,802,849 issued and outstanding shares (the "Issued Shares").
On 7th February, 2014 Cenkos disposed of 47,013 Common Shares at a price of GBP£0.004 per share and a further 15,000 Common Shares at a price of GBP£0.005 per share. As a result of these disposals, Cenkos beneficially owned and exercised full control and direction over 8,904,341 Common Shares representing an interest of 12.23% of the Issued Shares.
Further on 10th February, 2014 Cenkos disposed of 300,000 Common Shares at a price of GBP£0.004. As a result of this Cenkos beneficially owns and exercises full control and direction over 8,604,341 Common Shares representing an interest of 11.82% of the Issued Shares.
The transactions described herein took place through the facilities of the TSX Venture Exchange in Canada and the AIM of the London Stock Exchange in the United Kingdom. The transactions were carried out in order to provide liquidity in the Common Shares as the Issuer's UK market maker and broker and not for the purposes of exercising control or direction over the Issuer. Depending on market conditions and other factors, Cenkos may, from time to time, acquire additional securities of the Issuer, continue to hold or dispose of some or all of the securities.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
For additional information, or for a copy of the early warning report filed in respect of the above transactions, please contact Amber Wood at Cenkos Securities PLC on 0044 207 397 8983.