ALERTS100%to10000%GAIN
14 years ago
About Allis-Chalmers
Allis-Chalmers Energy Inc. is a Houston-based multi-faceted oilfield services company. Allis-Chalmers provides services and equipment to oil and natural gas exploration and production companies, domestically primarily in Texas, Louisiana, New Mexico, Oklahoma, Arkansas, offshore in the Gulf of Mexico, and internationally primarily in Argentina, Brazil and Mexico. Allis-Chalmers provides directional drilling services, casing and tubing services, underbalanced drilling, production and workover services with coiled tubing units, rental of drill pipe and blow-out prevention equipment, and international drilling and workover services.
http://finance.yahoo.com/news/AllisChalmers-Energy-bw-3144622233.html?x=0&.v=1
m1999
ALERTS100%to10000%GAIN
14 years ago
Press Release Source: Allis-Chalmers Energy Inc. On Tuesday January 25, 2011, 4:27 pm EST
HOUSTON--(BUSINESS WIRE)-- Allis-Chalmers Energy Inc. (NYSE:ALY - News) today announced that it has established a record date and a meeting date for the special meeting of its stockholders to consider and vote upon, among other things, the proposal to adopt the previously announced Agreement and Plan of Merger, dated as of August 12, 2010, among Allis-Chalmers, Seawell Limited and Wellco Sub Company, pursuant to which Allis-Chalmers would become a subsidiary of Seawell.
Allis-Chalmers stockholders of record at the close of business on Friday, January 14, 2011, will be entitled to notice of the special meeting and to vote at the special meeting. The special meeting will be held on Wednesday, February 23, 2011, at 10:00 a.m. local time and will be held at the Westin Galleria Hotel, Chevy Chase Room, 5060 West Alabama Street, Houston, Texas 77056.
In addition to the approval of Allis-Chalmers’ stockholders, the completion of the transaction is subject to customary closing conditions.
If you have any questions about the merger, including how to vote your shares of Allis-Chalmers, you should contact Georgeson, Inc., the information agent for Allis-Chalmers toll free at (866) 628-6024 (banks and brokers call (212) 440-9800).
http://finance.yahoo.com/news/AllisChalmers-Energy-bw-3144622233.html?x=0&.v=1
m1999
ALERTS100%to10000%GAIN
14 years ago
HOUSTON--(BUSINESS WIRE)-- Allis-Chalmers Energy Inc. (NYSE:ALY - News) today announced that it has established a record date and a meeting date for the special meeting of its stockholders to consider and vote upon, among other things, the proposal to adopt the previously announced Agreement and Plan of Merger, dated as of August 12, 2010, among Allis-Chalmers, Seawell Limited and Wellco Sub Company, pursuant to which Allis-Chalmers would become a subsidiary of Seawell.
http://finance.yahoo.com/news/AllisChalmers-Energy-bw-3144622233.html?x=0&.v=1
m1999
ALERTS100%to10000%GAIN
14 years ago
ALY~~~~Change in Directors or Principal Officers, Other Events
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective December 29, 2010, the Compensation Committee (the "Committee") of the Board of Directors of Allis-Chalmers Energy Inc. (the "Company" or "Allis-Chalmers") approved the acceleration of the vesting of 244,383 shares of time-based restricted stock and 544,000 shares of performance-based restricted stock previously granted to Company employees, including 153,500 shares of time-based restricted stock and 429,000 shares of performance-based restricted stock previously granted to executive officers. Prior to the acceleration of vesting, the restricted stock granted to such employees had been scheduled to vest on several dates over the next five years, subject to continued employment of the employee grantees, and in the case of performance-based awards, achievement of certain performance goals. In connection with the acceleration, the Company withheld a portion of each employee's vested shares to cover federal income tax withholding obligations.
The Committee's decision to accelerate the vesting of the restricted stock was made as part of tax planning measures implemented for the benefit of the Company and the employee holders of the restricted stock. The Committee considered several factors in making this decision, including but not limited to, the anticipated effect of the accelerated vesting on the Company's financial results and the expected acceleration of all unvested equity awards during the first quarter of 2011 after stockholder approval, and upon closing, of the Company's pending merger, pursuant to the Agreement and Plan of Merger, dated August 12, 2010, by and among the Company, Seawell Limited and Wellco Sub Company.
The following table sets forth the number of shares of time-based restricted stock and performance-based restricted stock, the vesting of which was accelerated, for each of the Company's executive officers:
Time-Based Performance-Based
Name Restricted Stock Restricted Stock
Victor M. Perez 45,000 140,000
Chief Financial Officer
Theodore F. Pound 50,000 100,000
General Counsel and Secretary
Mark C. Patterson 43,500 75,000
Senior Vice President-Rental Services
Terrence P. Keane 15,000 80,000
Senior Vice President-Oilfield Services
Bruce Sauers - 34,000
Vice President and Chief Accounting Officer
http://biz.yahoo.com/e/110105/aly8-k.html
m1999
surf guy
14 years ago
Shareholder Update: Investigation of Acquisition of Allis-Chalmers by Tripp Levy PLLC
NEW YORK, August 13, 2010 (BusinessWire) -- Tripp Levy PLLC announces an investigation into the proposed acquisition of Allis-Chalmers Energy Inc. (NYSE: ALY). On August 13, 2010, Seawell Limited (NOTC:SEAW) and Allis-Chalmers Energy Inc. (NYSE:ALY) announced that the companies have entered into a merger agreement providing for the acquisition of Allis-Chalmers by Seawell in a transaction valued at approximately $ 890 million (including assumed debt). Under the agreement, Allis-Chalmers stockholders will have the right to elect to receive $ 4.25 in cash or 1.15 Seawell common shares for each share of Allis-Chalmers common stock, subject to proration. In addition, Lime Rock Partners, which owns approx. 27.5% of Allis-Chalmers’ shares said that it will vote in favor of the transaction and that it will vote against any competing transaction.
The investigation concerns, among other things, whether the consideration to be paid to Allis-Chalmers shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Allis-Chalmers. Indeed, analysts have projected that the company’s inherent value is approx. $7 per share. The investigation further concerns whether the directors of Allis-Chalmers may have breached their fiduciary duties by not acting in Allis-Chalmers shareholders' best interests in connection with the sale process of Allis-Chalmers.
If you own Allis-Chalmers common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact
Tripp Levy
Tripp Levy PLLC
125 East 82nd Street
9th Floor
New York, New York
Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Contact:
Tripp Levy PLLC
Tripp Levy, 877-772-3975
contact@tripplevy.com
manny t
16 years ago
ALY,
Allis-Chalmers Chairman & CEO, Munawar H. Hidayatallah,Named Ernst & Young Entrepreneur Of The Year® 2009 Award Finalist in ...
Date : 05/22/2009 @ 7:20AM
Source : Business Wire
Stock : Allis-Chalmers Energy Inc. (ALY)
Quote : 2.9 0.0 (0.00%) @ 8:21AM
Allis-Chalmers Chairman & CEO, Munawar H. Hidayatallah,Named Ernst & Young Entrepreneur Of The Year® 2009 Award Finalist in ...
Allis-Chalmers Energy Inc. (NYSE:ALY) today announced that its Chairman and CEO, Munawar H. Hidayatallah, is a finalist for the Ernst & Young Entrepreneur Of The Year® 2009 Award in the Houston & Gulf Coast Area Program. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Mr. Hidayatallah was selected as a finalist from nearly 550 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 18, 2009 at the InterContinental Houston Hotel.
Mr. Hidayatallah stated, “I want to thank all the stakeholders of Allis-Chalmers for helping me achieve this prestigious nomination as a finalist for the Entrepreneur of the Year 2009 award in the Houston and Gulf Coast Area Program. Allis-Chalmers is a multi-faceted oilfield service company that was ranked as the third fastest growing company among publicly traded companies in Fortune’s 100 Fastest Growing Companies list for 2008. We also had the honor of being ranked first in revenue growth by Fortune among the list of companies with a 124% three-year annual growth rate, 15th in earnings per share growth with a 96% three-year annual rate and 28th out of 100 in total return with a 47% three-year annual rate.”
The Ernst & Young Entrepreneur Of The Year awards program celebrates its 23rd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world.
Regional award winners are eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 14, 2009. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
In the Houston & Gulf Coast Area, sponsors include Bowne, Fulbright & Jaworski L.L.P., Lockton Companies, LLC and Smart Business Magazine.
About Allis-Chalmers
Allis-Chalmers Energy Inc. is a Houston-based multi-faceted oilfield services company. We provide services and equipment to oil and natural gas exploration and production companies, domestically primarily in Texas, Louisiana, New Mexico, Oklahoma, Arkansas, offshore in the Gulf of Mexico, and internationally, primarily in Argentina, Brazil and Mexico. Allis-Chalmers provides directional drilling services, casing and tubing services, underbalanced drilling, production and workover services with coiled tubing units, rental of drill pipe and blow-out prevention equipment, and international drilling and workover services. For more information, visit our website at http://www.alchenergy.com or request future press releases via email at http://www.b2i.us/irpass.asp?BzID=1233&to=ea&s=0.
About Ernst & Young’s Entrepreneur Of The Year® Awards Program
Ernst & Young’s Entrepreneur Of The Year® Award is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst & Young Entrepreneur Of The Year® award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
MWM
16 years ago
Allis-Chalmers Energy Announces Backstopped Rights Offering, Investment by Lime Rock Partners and Modified Dutch Auction Tender Offers for its Senior Notes
Houston, Texas, May 20, 2009 — Allis-Chalmers Energy Inc. (NYSE: ALY) today announced an issuance to its stockholders of rights to purchase approximately 35.7 million shares of its common stock at a subscription price of $2.50 per share. Lime Rock Partners V, L.P. has agreed, subject to certain terms and conditions, to backstop the offering by purchasing from Allis-Chalmers, at the same price, any shares not purchased by Allis-Chalmers’ existing stockholders, up to the number of shares of common stock that will constitute 34.055% of Allis-Chalmers’ common stock outstanding after the offering and the closing of the backstop commitment. Allis-Chalmers intends to use the proceeds of the offering to repay indebtedness outstanding under its bank credit facility and senior notes. If the conditions to Lime Rock’s backstop commitment are met, Allis-Chalmers expects the aggregate gross proceeds of the offering and the backstop commitment to be between approximately $79.9 and $89.3 million.
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