May 30, 2016 1:04 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Shannon-Pocahontas Coal Corporation

Company Overview

Shannon-Pocahontas Coal Corporation operates as a subsidiary of Alpha Natural Resources, Inc. On August 3, 2015, Shannon-Pocahontas Coal Corporation filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Eastern District of Virginia. It is in joint administration with Alpha Natural Resources, Inc.

4 North 4th Street

Richmond, VA 23219

United States

Phone:

276-619-4410

Key Executives for Shannon-Pocahontas Coal Corporation

Shannon-Pocahontas Coal Corporation does not have any Key Executives recorded.

Shannon-Pocahontas Coal Corporation Key Developments

Sale Procedure Approved for Alpha Natural Resources, Inc.

The US Bankruptcy Court gave an order approving the sale procedures relating to the sale of certain assets of Foundation PA Coal Company, LLC, an affiliate of Alpha Natural Resources, Inc. on December 22, 2015. The Court approved the sale of its certain assets in open market transactions. The debtor’s assets include 4,016,146 shares of Rice Energy Inc. All sales will be market transactions with unrelated third party buyers for cash consideration and no sale shall be made for less than the then-current trading price on the NYSE. The debtor will serve a quarterly notice which will include number shares to be disposed, minimum share price and anticipated fees.

Motion for Asset Sale Filed by Alpha Natural Resources, Inc.

Foundation PA Coal Company, LLC, an affiliate of Alpha Natural Resources, Inc. filed a motion in the US Bankruptcy Court for the sale of certain assets on December 3, 2015. The debtor seeks the Court’s approval for the sale of its certain assets in open market transactions. The debtor’s assets include 4,016,146 shares of Rice Energy Inc. All sales will be market transactions with unrelated third party buyers for cash consideration and no sale shall be made for less than the then-current trading price on the NYSE. The debtor will serve a quarterly notice which will include number shares to be disposed, minimum share price and anticipated fees.

Bidding Procedure Approved for Alpha Natural Resources, Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Alpha Natural Resources, Inc. on November 6, 2015. The Court approved the sale of certain assets to the highest bidder in an auction. The debtor’s assets include mining properties and related infrastructure assets. To qualify as a qualified bidder, interested parties should submit their bids by January 20, 2016. Each qualified bidder must make a good faith deposit of $0.1 million. The debtor has scheduled an auction on January 27, 2016. The sale hearing is scheduled February 9, 2016. The debtor filed a modified asset schedule on November 30, 2015. As per this, additional assets were added to be sold at the auction.

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