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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| West. Coal | LSE:WTN | London | Ordinary Share | CA95801T1075 | COM SHS NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 758.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 758.00 | GBX |
West. Coal (WTN) Share Charts1 Year West. Coal Chart |
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1 Month West. Coal Chart |
Intraday West. Coal Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 31/10/2011 | 22:22 | Western Coal Corp. LSE & TSE charts Oct 09 | 1,059 |
| 14/6/2010 | 08:55 | Western Canadian Coal Corp. | 3,310 |
| 19/5/2010 | 20:49 | Western Canadian Coal - LSE & TSE charts June 08 | 3,756 |
| 02/10/2009 | 17:15 | WTN - A thread that’s about mining. | 7 |
| 26/7/2006 | 10:44 | WTN - Another Simeon7 XMAS Bonanza! | 58 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 07/9/2011 17:24 by ianbrewster Hear we go again... up 23% in USMining firm Anglo American PLC (AAL.LN) is considering a bid for U.S. miner Walter Energy (WLT) of $120 a share, and has arranged financing supporting an offer as high as $150 a share, The Times of London reported Wednesday on its website, without citing sources. Anglo is said to be planning to discuss the matter this weekend. Bhp Billiton Ltd. (BHP.AU) also may be interested in Walter Energy, the newspaper reported. |
Posted at 27/4/2011 09:50 by ianbrewster For illustrative purposes only, and using the example of an individual holding 1,000 Western common shares: if such shareholder elected to receive Cash Consideration in respect of all of their Western common shares held, the shareholder would be entitled to receive CDN$11,500 (being CDN$11.50 for each Western common share held); if such shareholder elected to receive Share Consideration in respect of all of their Western common shares, the shareholder would be entitled to receive approximately CDN$7,670 and 38 Walter common shares (being Cash Consideration for 665 of their Western common shares and Share Consideration for 335 of their Western common shares); and if such shareholder elected, or was deemed to have elected, to receive Cash Consideration in respect of 70% of their Western common shares and Share Consideration in respect of 30% of their Western common shares, the shareholder would be entitled to receive approximately CDN$10,405 and 11 Walter common shares (being Cash Consideration for 899 of their Western common shares and Share Consideration for 101 of their Western common shares). |
Posted at 08/4/2011 17:39 by steve36 Hopefully there is hardly anyone reading this now, so I can confess to being naive about the disposal process. I understood that I was a restricted shareholder (not sure whether that was because shares were acquired on AIM or because they were held through a nominee) so could not elect for shares rather than cash. I assumed that meant I would automatically receive 70% in cash and 30% in shares. I now discover that I am deemed to have elected for 30% in shares and have been pro rated back to 10%. Given the huge disparity in value it was pretty obvious that anyone who could would elect for shares and I doubt that anyone actually elected to receive cash. It would appear that the restricted shareholders who could not elect have been stitched up. Added to which, completing the deal two days before the end of the UK tax year so that gains crystallised a year earlier than necessary seems almost deliberately aimed to upset UK PI's. Still overall made a significant profit (something like 35x recovery from the low point) and the fact that I have 10% conversion into Walter shares at $140 is probably better than if I had received 30% at $110, which is around where the price was when the deal was announced. So, overall not bad but just a tad disappointed and annoyed with myself at how things ended. Thanks for the contributions to this BB if anyone is still around. One of the better ones. Good luck all. |
Posted at 03/3/2011 10:45 by ianbrewster Peter, the main driver of the WTN price is the Walter share price.if you hold on, you will get 70% of shares in cash @ CAD 11.50 and 30% WLT which you could sell for USD111.01 my calcs give a value of £7.49 per WTN share (less cost of selling WLT) against a £7.38 (less costs) that you would get if she sells now. What to do? exchange rates could move either way, WLT shares could move either way... |
Posted at 15/2/2011 14:55 by steve36 CGT - yes, you should be able to split your existing cost of WTN shares between cash received and Walter shares (based on market value of each at the time of the deal) and only pay CGT on the cash element received (in 2010/11 if it happens before 6 April) until you sell the Walter shares. If you transferred WTN shares to your wife and she requested 100% Walter shares but was forced into cash through the scaling back mechanism, I don't see why that would be challenged. If she got shares from you and immediately sold them or requested cash on the disposal that might be considered a bit dodgy though. |
Posted at 10/12/2010 23:26 by oilbagger Looks like market is pricing tightly a 70% cash 30% share distributionCash contribution at 70% is worth CAD$8.05 Share contribution at 30% is worth CAD$4.05 (using Walter price of US$117.24, exchange rate of 1.0094 and 0.114 Walter shares for every WTN) so 30% of 0.114x117.24x1.0094 giving a total of CAD$12.10 against a closing price of CAD$12 Interestingly if you were able to get all your WTN shares converted to Walter shares each WTN share would be worth CAD$13.49 |
Posted at 24/11/2010 18:13 by hpotter I'm going to hold WTN at least until the T/O is confirmed (about another 1 week). Surely the share price will be then go to only a few % less than C$11.50. Wish I'd kept all my shares from Cambrian days but at least I've got a few k left.I think that the risk of Walter pulling out is less than of a rival bid appearing. The rise in Walter share price suggests the market thinks WTN is a good deal for them. I wonder what the cash % will be? |
Posted at 19/11/2010 21:06 by hpotter Am I right in my reading of the RNS. The price is $11.50, no matter what the Walter Energy share price. The cash or number of shares just gets adjusted to $11.50.Hence no change in WTN share price although the Walter Energy share price has increased. |
Posted at 18/11/2010 08:17 by topinfo DJ Western Coal Corp Business Combination TIDMWTN RNS Number : 4036W Western Coal Corporation 18 November 2010 ? +------------------- | | 1000 - 885 Dunsmuir | | | Street | | | Vancouver, B.C. V6C | | | 1N5 | | | Phone | | | 604-608-2692 | | | info@westerncoal.com | | | www.westerncoal.com | | | | +------------------- | | | | +------------------- | | | | +------------------- News ReleaseWTN 10-28 Western Coal Enters Into Exclusive Negotiations For Potential Business Combination With Walter Energy Western Also Announces Sale of Shares by Audley to Walter Vancouver, BC, November 18, 2010 - Western Coal Corp. (TSX: WTN, WTN.WT and AIM: WTN) (the "Company" or "Western") announced today that it has entered into an exclusivity agreement with, and received a proposal regarding a strategic business combination (the "Combination") from Walter Energy, Inc. (NYSE: WLT) ("Walter"), a leading US producer and exporter of hard coking coal for the global steel industry. If concluded, the Combination proposal contemplates a plan of arrangement transaction whereby Western shareholders would receive a mixture of cash and Walter shares valued at $11.50 per Western share. The proposed value represents a premium of 55.8% to Western's closing price yesterday of $7.38 on the Toronto Stock Exchange. The proposal values Western's equity at $3.3 billion, based on Western's 291.1 million common shares outstanding on a fully diluted basis (excluding common shares held by wholly-owned subsidiaries of the Company). The Combination would create one of the world's largest pure-play publicly-traded producers of metallurgical coal with geographically diversified assets in Canada, the US and the UK and with strong market positions in Asia, South America, North America and Europe. The combined company would have synergistic technical expertise in both open- pit and underground coal mining. The combined company's market capitalization and enhanced financial strength would position it well to execute on strategic growth plans. Western expects to produce 6.1 million tonnes of coal for the fiscal year ending March 31, 2011, growing to 10 million tonnes for fiscal 2013. Walter, based in Tampa, FL, has stated that it expects to produce 6.6 million tonnes of coal in the calendar year 2010, growing to 8.6 million tonnes in the calendar year 2012. The vast majority of production for both companies is metallurgical coal. Due Diligence Period Walter's proposal is subject to due diligence and negotiation of definitive agreements. During the due diligence period, Western has agreed to work exclusively with Walter for a period of up to 14 days expiring December 1, 2010. If a definitive agreement is not reached, no penalties will be incurred by either party. The Combination would be subject to approval by shareholders of Western and regulatory authorities. Walter's proposal is not binding on either party, except with respect to the exclusivity obligations. Western cautions that no definitive agreement has been entered into and accordingly no assurance can be given that the negotiations between Western and Walter will lead to a transaction that is consistent with Walter's proposal or to any transaction at all. Western does not intend to make any further announcements or communications regarding this potential transaction until either a definitive agreement has been reached or discussions are terminated without such an agreement being reached. Western has retained RBC Capital Markets as its financial advisor, Goodmans LLP as its Canadian legal advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as its US legal advisor. Western's UK advisors are Trowers & Hamlins LLP (legal) and Cenkos Securities plc (Nominated Advisor). Western has established a committee of its independent directors to consider the Walter proposal. Deloitte & Touche LLP is acting as independent financial advisor to the special committee. Walter's agreement with Audley Western also announced that it was informed today by its largest shareholder, Audley European Opportunities Master Fund Limited ("Audley"), that Audley has signed an agreement to sell approximately 54.5 million common shares of Western (representing approximately 19.8% of Western's 276.1 million basic common shares outstanding, excluding common shares held by wholly-owned subsidiaries of the Company) to Walter at a price of $11.50 per share, or total consideration of approximately $630 million, subject to adjustment in certain circumstances. Western is not a party to the share purchase agreement. Under the share purchase agreement, the Western shares would be sold in two instalments. Upon the satisfaction of certain closing conditions, Walter would acquire approximately 25.3 million common shares for cash, with the balance to be acquired for cash or Walter stock immediately upon the combination of Western and Walter or, in any event, no later than April 30, 2011. The sale by Audley to Walter of 54.5 million common shares of Western is subject to the expiration or termination of the applicable waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act and compliance with any other applicable competition laws. Western has been advised that a copy of the share purchase agreement will be filed by Audley on SEDAR (www.sedar.com) and by Walter on EDGAR (www.sec.gov). About Western Coal Western Coal is a producer of high quality metallurgical coal from three mines in northeast British Columbia (Canada), high quality metallurgical coal and compliant thermal coal from four mines located in West Virginia (USA), and high quality anthracite and metallurgical coal in South Wales (UK). Other interests owned include a 24% interest in Mandalay Resources Corporation (MND: TSX), 40% interest in Xtract Energy (XTR: AIM), and a 20% interest in NEMI Northern Energy & Mining (NNE.A: TSX). The Company is headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock exchanges under the symbol "WTN". More information can be found at www.westerncoal.com Forward-Looking Information This release may contain forward-looking statements that may involve risks and uncertainties. Such statements relate to the Company's expectations, intentions, plans and beliefs including, in particular, statements relating to a potential strategic business combination between the Company and Walter and the terms of any such transaction. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements as a result of various important factors, including, but not limited to: the Company's ability to negotiate a potential strategic business combination with Walter; the price, terms and conditions of any such transaction; the benefits of any such transaction and its impact on the Company's business;, changes in commodity prices; strengths of various economies; the effects of competition and pricing pressures; the oversupply of, or lack of demand for, the Company's products; currency and interest rate fluctuations; various events which could disrupt the Company's construction schedule or operations; the Company's ability to obtain additional funding on favourable terms, if at all; and the Company's ability to anticipate and manage the foregoing factors and risks. Additionally, statements related to the quantity or magnitude of coal deposits are deemed to be forward looking statements. The reliability of such information is affected by, among other things, uncertainties involving geology of coal deposits; uncertainties of estimates of their size or composition; uncertainties of projections related to costs of production; the possibilities in delays in mining activities; changes in plans with respect to exploration, development projects or capital expenditures; and various other risks including those related to health, safety and environmental matters. Readers are referred to the documents filed by the Company on SEDAR. -30- For further information: +------------------- | Western Coal Corp. | Buchanan | Cenkos | | David Jan | Communications | Securities | | Head of Investor | Bobby Morse / | Nominated | | Relations | Katharine Sutton | Advisor and | | +1 604 694 2891 | +44 (0)207 466 5000 | Broker | | David.jan@westerncoa | | | Ivonne Cantu / | | | | +44 207 397 8900 | +------------------- This information is provided by RNS The company news service from the London Stock Exchange MSCGMMMMRRKGGZG |
Posted at 31/3/2010 11:57 by edmondj FT Alphaville latches onto fresh 500p target from Arbuthnot:NH I imagine you are referring to the bid for McArthur Coal overnight NH by Peabody NH $3.3bn deal NH and it has certainly boosted the share prices of a few coal miners over here Caledon Resources PLC (CDN:LSE): Last: 51.75, up 2.5 (+5.08%), High: 52.25, Low: 50.00, Volume: 1.47m GCM Resources PLC (GCM:LSE): Last: 163.00, up 18.5 (+12.80%), High: 167.00, Low: 151.00, Volume: 327.08k Western Coal Corp (WTN:LSE): Last: 400.00, down 2.5 (-0.62%), High: 402.50, Low: 401.50, Volume: 12.74k NH and as luck would have it NH I have some comment NH from Arbuthnot NH Overnight, the first major piece of M&A activity since BHP secured a 55% increase in the coking coal benchmark price commenced with major US Coal producer Peabody Energy making an approach for Australian producer Macarthur Coal. Macarthur's share price closed up 16% at A$14.05 after rejecting the all cash, conditional proposal of A$13.00 a share. NH Re-emergence of M& A reminds us of 2008. This re-emergence of M&A activity is major news for the coal sector and is likely to again lift valuations across the board, particularly for independent companies operating in the Bowen Basin in Australia, similar to the peak in M&A activity witnessed in 2008 during the high point in coal prices. NH Peabody have offered A$3.3bn (US$3.1bn) in cash for Macarthur Coal, conditional on dropping Macarthur's current bid for Gloucester Coal and gaining shareholder & FIRB approval. Given Macarthur's current planned production of c.5mtpa, this bid values Macarthur on forward estimates of 7x EV/EBITDA, 12x PE and $2.5/t EV/Resource tonne. Since the share price has moved past the offer price, these metrics have increased to 7.5x EV/EBITDA and 13x PE. During the 2008 peak in prices and M&A commotion, multiples as high as $5/t and 10x EV/EBITDA we paid for coal assets. NH So does its position as Second largest Independent PCI supplier. Given Macarthur Coal's position as the largest independent seaborne producer of PCI coal, we expect Western Coal will also benefit from this news given its position as the second largest PCI producer in the same market (there is also positive read across for Caledon Resources given its position in the Bowen basin and suppressed valuation). Western's multiples are undemanding On our numbers, Western, which is planning production of 5.4Mt in FY11, lifting to 7Mt in FY12, trades on forward multiples of 5x EV/EBITDA, 9x PE and $3.5/t on the mining EV/resource metric, giving Western 30-40% upside on its financial metrics. NH Buy Western Our valuation on Western has proved too conservative; therefore we raise our target price (which has been surpassed) to 500p on the back of the re-emergence of major M&A activity and likely valuation increases that will result. We therefore maintain our Buy recommendation on Western Coal. Caledon Resources Macarthur Coal News on the back of the Macarthur Coal News we also re-iterate our strong buy and 80p TP on Caledon. |
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