Coastal Energy Announces Insider Transaction
February 05 2010 - 12:20PM
Marketwired
Coastal Energy Company (the "Company" or "Coastal") (TSX-V: CEN)
(AIM: CEO), an independent exploration and production company with
assets in Thailand, announces that it was notified January 21, 2010
of the following sales transaction of ordinary shares in the
Company ("Ordinary Shares"):
Shares % of
Shares Owned Total
Transaction this Following Outstanding
Shareholder Title Date Transaction Price Transaction *
----------- -------- ------------ -------- ------- ----------- ---------
John Zaozirny Director Jan 21, 2010 25,000 C$ 5.39 75.000 0.07%
All other
Directors 3,249,475 2.98%
----------- -------- ------------ -------- ------- ----------- ---------
Total all
Directors 3,314,475 3.05%
* Based on total common stock currently issued and outstanding of
109,072,593 shares.
This sale was undertaken in conjunction with an exercise of
25,000 incentive stock options by Mr. Zaozirny.
Update on Block Admission
The Company received approval from the London Stock Exchange for
the block admission to trading on AIM of 113,078,222 Ordinary
Shares on November 6, 2009 (the "Block Admission). As at the date
of this announcement the Company has issued 109,072,593 Ordinary
Shares under the terms of the Block Admission and therefore have
received approvals to issue, in the future, a further 4,005,629
Ordinary Shares. Further updates will be provided on a semi-annual
basis from the date of this announcement.
Additional information, including the Company's complete
competent person's report may be found on the Company's website,
www.CoastalEnergy.com or may be found in documents filed on SEDAR,
www.sedar.com.
These securities have not been registered under United States
Securities Act of 1933 (the "US Securities Act") or the securities
laws of any state and may not be offered or sold in the United
States or to US persons (as defined in Regulation S under the US
Securities Act) unless an exemption from registration is
available.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This news release is not for dissemination in the United States
or through United States newswire services
Enquiries: Coastal Energy Company Randy L. Bartley Chief
Executive Officer +1 713 877 6705 William C. Phelps Chief Financial
Officer +1 713 877 6727 Email: Email Contact Strand Hanson Limited
(Nominated Adviser) +44 (0) 20 7409 3494 Rory Murphy Paul Cocker
Thomas Weisel Partners (Broker) +44 (0) 20 7877 4300 Paul Colucci
Macquarie Capital (Europe) Limited (Broker) +44 (0) 20 3037 2000
Ben Colegrave Paul Connolly Buchanan Communications +44 (0) 20 7466
5000 Tim Thompson Catherine Breen Katharine Sutton
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