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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| West. Coal | WTN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 758.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 758.00 | 758.00 |
| Top Posts |
|---|
Posted at 28/4/2011 00:29 by sammu "IanBrewster - 26 Apr'11 - 22:26 - 1050 of 1052 My shares were in iDealing ISA today - i got 190 WLT for my 5000 WTN, so I make that just over 33%. More shares than I was expecting. Just need to figure out where to put the cash!?!?!?" Snap on all counts Ian. I'm looking at LRD, PFL and HRI - no mining, already have enough of that. I see GCE has come off a bit, I may revisit that to see if there is any value. |
Posted at 26/4/2011 22:26 by ianbrewster My shares were in iDealing ISA today - i got 190 WLT for my 5000 WTN, so I make that just over 33%. More shares than I was expecting.Just need to figure out where to put the cash!?!?!? |
Posted at 01/4/2011 10:30 by ianbrewster WTN suspendedFarewell Western Coal, Cambrian, Coal International, Energybuild (and any I have forgotten). Hello Walter |
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 22/2/2011 07:30 by knight176 i thought the deal has been done on wtn why has it not changed to us shares what left on this company it clear there are no real buyers left |
Posted at 17/2/2011 11:06 by adda I see the Telegraph has got an article on WTN in their Questor column recommending a sell(nothing to do with you then Edmond?! I am going to go for 100% Walter shares and expect to get reduced back to the 70:30% my only problem is how to treat the cash element? I need it to fall in next years CGT any ideas how this will be treated if the takeover finalises on the 01/04 but the cash is paid say after the 06/04? Tks |
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 15/2/2011 12:00 by adda Just got the pack through the post today. To make sure I am reading this right WTN holders are allowed to take up 70% in cash & 30% if you want in Walter Energy shares? Does anybody have a view which is best obviously dont want to pay more than necessary in CGT !! |
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 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 |
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