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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM 12b-25
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NOTIFICATION OF LATE FILING
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(Check one) x Form 10-K o Form 20-F o Form 11-K o Form 10-Q o Form N-SAR o Form N-CSR
For Period Ended: December 31, 2019
o Transition Report on Form 10-K
o Transition Report on Form 20-F
o Transition Report on Form 11-K
o Transition Report on Form 10-Q
o Transition Report on Form N-SAR
For the Transition Period Ended:
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:
PART I — REGISTRANT INFORMATION
Contura Energy, Inc.
Full Name of Registrant
Former Name if Applicable
340 Martin Luther King Jr. Blvd.
Address of Principal Executive Office (Street and Number)
Bristol, Tennessee 37620
City, State and Zip Code
PART II - RULES 12B-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
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(a)
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The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
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x
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(b)
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The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
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(c)
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The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
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PART III - NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Contura Energy, Inc. (Contura or the Company) is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, within the prescribed time period because it requires additional time to complete its financial statements and its assessment of the Company’s internal control over financial reporting; accordingly, the Company’s independent registered accounting firm, KPMG LLP, has not yet completed its audits of the Company’s financial statements and the Company’s internal control over financial reporting as of December 31, 2019. Contura anticipates that it will file its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as soon as possible and within the fifteen-day grace period provided by Rule 12b-25 of the Securities Exchange Act of 1934, as amended.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification
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Charles Andrew Eidson
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423
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573-0300
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(Name)
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(Area Code)
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(Telephone Number)
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(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the Registrant was required to file such report(s) been filed? If answer is no, identify report(s). x Yes o No
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
x Yes o No
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
Contura expects to report fiscal 2019 coal revenues of $2.3 billion which increased $261.1 million, or 12.9%, for the year ended December 31, 2019 compared to the prior year period. The increase was primarily due to higher coal sales volume of 6.1 million tons resulting from inclusion of a full year of activity from the properties acquired in the merger with ANR, Inc. and Alpha Natural Resources Holdings, Inc. which was completed on November 9, 2018. The Company also expects to report net loss of $316.3 million for the for the year ended December 31, 2019, which includes a pre-tax asset impairment charge of $66.3 million and a goodwill impairment of $124.4 million, compared to net income of $299.2 million in the prior year period. The Company expects the assessment of the Company’s internal control over financial reporting to include material weaknesses related to our risk assessment process, the sufficiency of trained personnel to effectively assess and implement necessary controls, and process level controls over the valuation of coal inventory and elements of our procurement process.
The foregoing fiscal 2019 estimates are preliminary and unaudited. These results are as of the time of this filing and, although they are believed to be reliable, they may be subject to change after the completion of customary year-end processes and reviews as well as the completion of KPMG's audit.
Cautionary note regarding forward looking statements
This filing contains forward-looking statements that involve risks and uncertainties. The foregoing statements about expected financial results are forward-looking statements within the meaning of and made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While these forward-looking statements are based upon information presently available to the Company and assumptions that it believes to be reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond the Company’s control. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward- looking statements included in this filing are made only as of the date hereof. The Company does not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
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Contura Energy, Inc.
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(Name of Registrant as Specified in Charter)
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has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
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Date:
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March 17, 2020
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By:
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/s/ Charles Andrew Eidson
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Name:
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Charles Andrew Eidson
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Title:
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Executive Vice President and Chief Financial Officer
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(Principal Financial Officer and Principal Accounting Officer)
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