Contura Announces Final Results of Tender Offer

Contura Will Acquire 530,000 Shares at $60.00 Per Share

BRISTOL, Tenn., December 21, 2017 – Contura Energy, Inc., a leading U.S. coal supplier, today announced the final results of its previously announced modified “Dutch Auction” tender offer to repurchase up to $31.8 million of its common stock, which expired at 12:00 midnight, New York City time, at the end of the day on December 15, 2017.

Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, Contura accepted for payment an aggregate of 530,000 shares of common stock at a purchase price of $60.00 per share. Because the number of shares tendered at or below the $60.00 purchase price (or by shareholders electing to tender at the ultimate purchase price determined under the tender offer terms) exceeded the amount that Contura offered to purchase, the resulting proration factor, after giving effect to the priority for “odd lots,” was approximately 92.6%. The depositary will promptly pay for all the shares accepted for purchase and will return all other shares tendered.

The tender offer was made pursuant to Contura’s Offer to Purchase dated September 26, 2017, as amended by the press releases dated October 25, 2017 and November 6, 2017, and the related Letter of Transmittal, in which Contura offered to purchase up to $31.8 million of its common stock at a purchase price not less than $58.00 and not more than $64.00 per share.

Contura may purchase additional shares in the future on the open market subject to market conditions and/or in private transactions, tender offers or otherwise. Whether Contura makes additional repurchases in the future will depend on many factors, including but not limited to its business and financial performance, the business and market conditions at the time, including the price of the shares, restrictions contained in its debt agreements and other factors Contura considers relevant.

D.F. King & Co., Inc. is serving as information agent for the tender offer and can be reached at (800) 309-2984 or cnte@dfking.com. Jefferies LLC and Stifel, Nicolaus & Company, Incorporated are acting as dealer managers. Computershare Trust Company, N.A. is acting as the depositary for the tender offer.

Any questions regarding the tender offer may be directed to the information agent toll-free at (800) 309-2984.

 

FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements, including statements relating to Contura’s intention to repurchase shares. These forward-looking statements are based on Contura’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Contura’s control. You should also review the risk factors and other information contained in, or incorporated by reference in, the Offer to Purchase. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Contura to predict these events or how they may affect Contura. Except as required by law, Contura has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur.

 

ABOUT CONTURA ENERGY
Contura Energy is a private, Tennessee-based coal supplier with affiliate mining operations across major coal basins in Pennsylvania, Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Contura Energy reliably supplies both metallurgical coal to produce steel and thermal coal to generate power. For more information, visit www.conturaenergy.com.