Atlas Iron Ltd . (ATLGF)

[AISI304]

Atlas offers clarification regarding unmarketable parcel share facility

http://www.atlasiron.com.au/site/PDF/8331_1/ClarificationregardingUnmarketableParcelsalefacility

Atlas Iron Limited (ASX: AGO) would like to correct inaccurate statements made in the media yesterday regarding the Unmarketable Parcel sale facility outlined in its ASX announcement of 24 April 2018.

It was reported in a press article yesterday that the facility could “see Atlas spend about $2 million buying out smaller holders”. This is not correct.

As outlined in the ASX release earlier this week, Paterson's Securities will sell on market any shares for shareholders who participate in the facility. Atlas is not buying back those shares or advancing any funds for this purpose.

Implementation of the facility is expected to save the Company several hundred thousand dollars in printing, postage and other administrative costs.

This is particularly relevant at this time in light of the increased need to communicate directly with shareholders over the coming months in relation to the proposed Scheme of Arrangement.

Investor Enquiries:

Atlas Iron Limited Company Secretary
[phone]

Media Enquiries:

Read Corporate
[phone]

Nicholas Read
[phone]

Paul Armstrong
[phone]