UK Coal Operations Limited - in administration – Update

Published at 17:11 PM on 11 July 2013

Further to the statement on 9 July, the administrators of UK Coal Operations Limited are pleased to have concluded the transfer of shares in UK Coal Mining Holdings Limited ("UKCMHL") to a newly formed Employee Benefit Trust ("EBT").


The Trust has a dual function:


-      to hold shares in the UKCMHL and its subsidiaries for the long-term benefit of current and former employees and  their families.


-      to secure the long-term safety, production and viability of the Group’s mines for the length of time that coal can be produced economically.


 As ultimate shareholder of the new group, the EBT will be responsible for the governance of the new group. However, the economic benefit will remain with the Pension Protection Fund as previously reported.





About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see for further details. © 2016 PwC. All rights reserved

« New guide urges firms to ‘lead from the top’ to battle against bribery and corruption. | Homepage | Rising sick bill is costing UK business £29bn a year – PwC research »

  • Contact us
  • +44 (0) 20 7213 1768

Specific and out of hours contacts