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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Coastal Eng | CEO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1,056.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,056.00 | 1,056.00 |
| Top Posts |
|---|
Posted at 21/11/2013 19:56 by sander4709 DD - yes thank you for your openness and timely dissemination of info. You have been a huge help with my investment decisions here. I've sold 1/3 and will wait and see what occurs with CEO over the next month.I'm also in SIA (my biggest holding now), GKP, IAE and gradually building a position in ELA so I'm sure I'll see your words of wisdom on several other boards. |
Posted at 19/11/2013 17:12 by melf Dukedosh, many thanks for keeping us updated on CEO over past few years.....very much appreciated and good luck in the future. |
Posted at 19/11/2013 16:10 by dragonsteeth Well that's me out and moving on . Been here a while, not posted much but very grateful to dukedosh and the many well informed investors here like tgg etc. I still have Mrs DTs ISA shares to sell , so may hold those for a wee while or until I pluck up courage to tell her that "Coastal Energy " wasn't really into making energy from windmills on the coast , but you've made a nice profit ;-). Good luck all with where ever your CEO money lands. |
Posted at 19/11/2013 14:28 by nermil Can someone tell me how this works? So if they don't get a 2nd offer and if $19 is the final price, but we're right now trading at slightly below this, what happens to those who don't sell out before the whole thing is completed, ie stick through to the end. Do we get a cash amount of $19 per share with CEO no longer listed? The only other time I was involved through to the end with a bid, I got equivalent shares in the buyer. But this is not that same sort of deal. What are the mechanics of things where its purely a cash deal? Happy to no longer be thousands down on this however, I was half expecting more bad news today re permits only to get something positive even if not the $25 everyone hoped for. |
Posted at 19/11/2013 08:17 by dragonsteeth this is the wthe IV stuff posted earlier (polite request : if you post a link can you go back and edit the http bit so all can see it, very difficult to read on phones otherwise.)CEPSA to Acquire Coastal Energy Company for C$19.00 Per Share Delivers Significant and Immediate Value to Coastal Energy Shareholders HOUSTON, Nov. 19, 2013 (GLOBE NEWSWIRE) -- Coastal Energy Company ("Coastal" or the "Company") (TSX:CEN) (AIM:CEO) announced today that it has entered into a definitive merger agreement providing for the acquisition by Compañia Española de Petroleos, S.A.U. ("CEPSA") of all of the issued and outstanding shares of Coastal at a price of C$19.00 per common share in cash. The purchase price represents a premium of 28% to the closing price of the Company's common shares on the TSX onNovember 18, 2013. The purchaser is a newly-incorporated CEPSA controlled entity in which Strategic Resources (Global) Limited ("SRG") is an investor. The proposed transaction has an aggregate value of approximately C$2.3 billion including the assumption of C$51 million of net debt. The transaction, which will be completed by way of statutory merger, is expected to close in the first quarter of 2014. Commenting on the acquisition, Randy Bartley, CEO of Coastal said, "This transaction delivers significant and immediate value to our shareholders. Our Board of Directors is unanimous in its view that this transaction is in the best interests of Coastal Energy Company and recommends shareholders vote in favor of this transaction." CEPSA Chief Executive Officer Pedro Miro commented, "Today's announcement reflects an important step in increasing CEPSA's E&P capabilities. Coastal's business comprises a high-quality portfolio of upstream assets located in Southeast Asia, operated by talented management and dedicated employees. We believe that Coastal provides a tremendous foundation for furthering our E&P strategy." Jho Low, spokesperson for SRG added, "We are excited to invest with CEPSA in Coastal. With our strong relationships in Asia and CEPSA's strength in the E&P, we believe we can grow Coastal's footprint in Asia and further enhance the Company's operations." The transaction will be funded by CEPSA's and SRG's available financial resources. Recommendation of the Coastal Energy Company Board of Directors The Board of Directors of the Company, after consulting with its financial and legal advisors, has unanimously determined that the transaction is in the best interest of the company and that the consideration being offered to the Company's shareholders is fair from a financial point of view. The Board of Directors has resolved to unanimously recommend that the Company's common shareholders vote their shares in favor of the merger at a meeting of shareholders to consider the transaction which is expected to occur in early January 2014. Additional Information on the Transaction The definitive merger agreement provides for, among other things, a non-solicitation covenant on the part of Coastal, subject to customary "fiduciary out" provisions, that entitles Coastal to consider and accept a superior proposal and a right in favor of the purchaser to match any superior proposal. If the definitive merger agreement is terminated in certain circumstances, including if Coastal enters into an agreement with respect to a superior proposal or if the Board of Directors of Coastal withdraws or modifies its recommendation with respect to the proposed transaction, the purchaser is entitled to a termination payment of US$76,000,000. Completion of the transaction is subject to customary closing conditions, including approval of two-thirds of the votes cast by holders of common shares in person or by proxy at the meeting of shareholders and by a majority of disinterested shareholders in accordance with applicable securities laws, and receipt of applicable government and other approvals. The transaction is not subject to any financing condition. Coastal shareholders will be asked to vote on the transaction at a special meeting of the Company's shareholders, expected to be held in early January 2014. Full details of the transaction will be included in the Company's information circular to be mailed to holders of Coastal shares in accordance with applicable securities law. A copy of the merger agreement, the information circular and related documents will be filed with Canadian securities regulators and will be available at www.sedar.com. Certain directors, senior officers and other shareholders of Coastal, representing approximately 36.5 million of the Company's issued and outstanding common shares, have entered into voting support agreements with the purchaser and have agreed to vote their shares in favor of the transaction, subject to the terms and conditions of such agreements. Credit Suisse Securities (USA) LLC has issued an opinion that the consideration to be received by the shareholders of Coastal in the transaction is fair to such shareholders from a financial point of view. Coastal's financial advisors are Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC. Coastal's legal advisors are Stikeman Elliott LLP, Cleary Gottlieb Steen & Hamilton LLP, and Walkers. Goldman Sachs International acted as financial advisor to CEPSA. PriceWaterhouseCoope |
Posted at 19/11/2013 08:09 by dragonsteeth wow just picked that up on my IG index watchlist, probably sums up my feelings for CEO at the moment - great rise , why no RNS , and too be honest I've been here nearly two years off and on will be glad to sell. |
Posted at 15/11/2013 09:21 by dukedosh After a great 5 year ride here, I no longer hold any Coastal stock. I'm still watching and will continue to update the header here until someone takes the mantle and makes a new CEO thread. I wish all fellow holders here the very best of luck and hope it happens, what ever it may turn out to be. |
Posted at 11/11/2013 22:29 by sg31 Probably CEO, most of the trading is done in Canada (CEN). Spread is normally wide in UK and liquidity problems. I have a few held in UK and vast majority in Canada. |
Posted at 11/11/2013 21:15 by davr0s Yes bit disappointing though at least it's recovered a bit in Canada this evening - can't see it dropping much below this level. One thing I find is when the price starts to drop there is no liquidity whatsoever with self trade. So last week when we were dropping I was unable to get a sell price on 1 share all afternoon and that was repeated today. When I called I was told that if I wanted to sell I needed to do it by phone and they would charge £40 for any reasonable volume. Wasnt looking to sell but bit miffed that the option is effectively closed off unless I want to hang on a phone and pay through the nose - is this a CEO share issue or something specific to self trade |
Posted at 14/6/2013 13:53 by douglasallen good to see you around duke...haven;t seen too many posts from yourself.CEO has vastly under-performed my expectations as a stock, but the company is inherently good. does the really knowledgable guy still post on the Canadian forum for CEN, or is he out now? I'm gonna stick it with CEO, on an earnings basis alone the stock is too cheap. Factor in some exploration upside and the possibility of a takeover then the stock is exceptionally cheap. Unfortunately one cannot second guess when this value will be realised; perhaps CEO will pay a special dividend to pay cash back to investors. Personally I would rather see expansion of production and growth in reserves as that will really get the stock moving. Fortunately oil still remains relatively strong and really underpins CEO's earnings. I topped up the other day at 1035p. However, I have bought previosuly at higher prices. |
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