NSM has shares temporarily suspended

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The Independent Online
NSM, the heavily indebted coal miner, said its shares had been temporarily suspended yesterday pending details of the proposed sale of its Clee Hill plant hire subsidiary, other planned disposals and further information on its ongoing discussions with its banks.

NSM said it had now completed the disposal of Clee Hill Plant in a deal which would reduce its debts by about pounds 5m. It said a number of other "significant disposals" were in train.

The shares were suspended at 8p after NSM said it believed it was not possible to maintain an orderly market in the company's shares without full information on the disposals and the bank discussions, both of which were still progressing.