Coastal Energy Company (the "Company") (TSX:CEN) (AIM:CEO) announces that it granted a total of 1,538,773 incentive stock options to directors, officers, employees and contractors of the Company, pursuant to the Company's Stock Option Plan on 14 December 2011. These options are exercisable at a price of Cdn $14.04 per share, vest equally over a period of three (3) years and expire five (5) years from the date of award. The following directors and officers were granted the following options.
Total
Options
Number of Outstanding
Options
This After This
Director / Officer Grant Grant ----------------------- --------- ----------- Randy L. Bartley 635,303 4,065,807 William C. Phelps 262,281 939,193 John Griffith 211,428 853,512 Stephen M. Holder 40,799 305,272 Jerry A. Moon, Jr. 73,739 434,052--------- ----------- Subtotal directors
and officers 1,223,550 6,597,836 All other directors and officers All other employees 315,223 1,950,957--------- -----------
========= ===========
As at December 31, 2011 the Company had 113,605,881 shares of common stock issued and outstanding.
In addition, the Company granted a total of 205,628 restricted stock units ("RSUs") to directors, officers, employees and contractors of the Company, pursuant to the Company's Restricted Stock Unit Plan on 14 December 2011. These RSUs vest equally over a period of three (3) years. The following directors and officers were granted the following RSUs:
Number Total RSUs
of RSUs Outstanding
This After This
Director / Officer Grant Grant ----------------------- ------- ----------- Randy L. Bartley 66,899 66,899 William C. Phelps 27,069 27,069 John Griffith 20,321 20,321 Stephen M. Holder 5,414 5,414 Jerry A. Moon, Jr. 9,745 9,745------- ----------- Subtotal directors
and officers 129,448 129,448 All other directors and officers 37,897 37,897 All other employees 38,283 38,283------- -----------
Total all RSUs 205,628 205,628======= ===========
The Coastal Energy Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10062
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.
CONTACT: Coastal Energy Company
Email: [email protected]
+1 (713) 877-6793
Strand Hanson Limited (Nominated Adviser)
+44 (0) 20 7409 3494
Rory Murphy
Paul Cocker
Stifel Nicolas Weisel (Broker)
+44 (0) 20 3205 3615
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
Katharine Sutton
Ben Romney