26 Jul 2013 07:00
| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi | |||||||
| 1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii | Coastal Energy Company Inc. | ||||||
| 2 Reason for the notification (please tick the appropriate box or boxes): | |||||||
| An acquisition or disposal of voting rights | YES | ||||||
| An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | NO | ||||||
| An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | NO | ||||||
| An event changing the breakdown of voting rights | NO | ||||||
| Other (please specify): | NO | ||||||
| 3. Full name of person(s) subject to thenotification obligation: iii | Ingalls & Snyder LLC ("I&S") | ||||||
| 4. Full name of shareholder(s)(if different from 3.):iv | I&S, on behalf of its clients, has dispositive authority over (i.e. the power and authorisation to sell at I&S’s discretion) 12,542,318 | ||||||
| 5. Date of the transaction and date onwhich the threshold is crossed orreached: v | July 24, 2013 | ||||||
| 6. Date on which issuer notified: | July 25, 2013 | ||||||
| 7. Threshold(s) that is/are crossed orreached: vi, vii | Interest in excess of 11% of issued share capital. | ||||||
| 8. Notified details: | |||||||||||||||||||||||||||||||||
| A: Voting rights attached to shares viii, ix | |||||||||||||||||||||||||||||||||
| Class/type ofshares if possible usingthe ISIN CODE | Situation previousto the triggeringtransaction | Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||
| NumberofShares | NumberofVotingRights | Numberof shares | Number of votingrights | % of voting rights x | |||||||||||||||||||||||||||||
| Direct | Direct xi | Indirect xii | Direct | Indirect | |||||||||||||||||||||||||||||
| Ordinary Shares ISIN KYG224041189 | 11,658,621 | 11,658,621 | 12,542,318 | 0 | 0 | ||||||||||||||||||||||||||||
| B: Qualifying Financial Instruments | |||||||||||||||||||||||||||||||||
| Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||||
| Type of financialinstrument | Expirationdate xiii | Exercise/ Conversion Period xiv | Number of votingrights that may beacquired if theinstrument isexercised/ converted. | % of votingrights | |||||||||||||||||||||||||||||
| n/a | |||||||||||||||||||||||||||||||||
| C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi | |||||||||||||||||||||||||||||||||
| Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||||
| Type of financialinstrument | Exercise price | Expiration date xvii | Exercise/Conversion period xviii | Number of voting rights instrument refers to | % of voting rights xix, xx | ||||||||||||||||||||||||||||
| Nominal | Delta | ||||||||||||||||||||||||||||||||
| n/a | |||||||||||||||||||||||||||||||||
| Total (A+B+C) | |||||||||||||||||||||||||||||||||
| Number of voting rights | Percentage of voting rights | ||||||||||||||||||||||||||||||||
| 12,542,318 (Note: For these purposes we have assumed that dispositive authority is equivalent to voting rights.) | 11.04% (Note: For these purposes we have assumed that dispositive authority is equivalent to voting rights). | ||||||||||||||||||||||||||||||||
| 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi | ||||
| Proxy Voting: | ||||
| 10. Name of the proxy holder: | N/A | |||
| 11. Number of voting rights proxy holder will ceaseto hold: | N/A | |||
| 12. Date on which proxy holder will cease to holdvoting rights: | N/A | |||
| 13. Additional information: | ||||
| 14. Contact name: | Frank Stolba | |||
| 15. Contact telephone number: | (001) (212) 269 7814 | |||
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