Welcome to our dedicated page for Cool news (Ticker: CLCO), a resource for investors and traders seeking the latest updates and insights on Cool stock.
Cool Company Ltd. news covers the company’s transition from a public issuer to a wholly owned subsidiary of EPS following a completed cash merger registered in Bermuda. Prior updates for CLCO included shareholder voting matters, capital-structure disclosures, governance notices, and operating and financial results tied to vessel-related revenue categories such as time and voyage charter activity and vessel management fees.
Recurring company announcements also addressed long-term incentive plan matters, restricted stock unit vesting, mandatory primary-insider trade notifications, and the treatment of common shares listed on the New York Stock Exchange and Euronext Growth Oslo during the corporate-status change.
The New York Stock Exchange (NYSE), ICR, Cravath, and CFGI are hosting a half-day event titled 'NYSE's Roadmap to Wall Street: Considerations for a US Listing' on May 23, 2024, in London. This event will guide European corporate teams through the US listing process, covering market trends, listing venues, audit, accounting, and legal considerations. Richard Tyrell, CEO of Cool Company (NYSE: CLCO), will give a keynote speech detailing CoolCo’s US listing journey. The event also includes networking opportunities and sessions on US capital markets, IPO readiness, and investor engagement.
Cool Company (TICKER: CLCO) announced a cash dividend of $0.41 per share, declared in USD but payable in NOK for shares registered in Euronext Securities Oslo (VPS). Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, payment dates will vary between the New York Stock Exchange (NYSE) and the Oslo Stock Exchange (OSE). The standard settlement cycle for trades on NYSE will be shortened to T+1 from May 28, 2024, while OSE will continue with T+2. Key dates include the last trading day with dividend rights on May 30, 2024 (NYSE) and May 29, 2024 (OSE), ex-date on May 31, 2024 (NYSE) and May 30, 2024 (OSE), and record date on May 31, 2024. Payment dates are on or about June 10, 2024 (NYSE) and June 13, 2024 (OSE).
Cool Company (NYSE: CLCO) reported its Q1 2024 financial results with key highlights. The company generated total operating revenues of $88.1 million, a decrease from $97.1 million in Q4 2023, mainly due to vessel off-hire and lower floating rates. Net income increased to $36.81 million from $22.41 million, thanks to unrealized gains on interest rate swaps. EBITDA decreased to $58.5 million from $69.4 million. The company secured a 14-year charter with GAIL (India) , upsized its term loan facility by $200 million, and declared a $0.41 per share dividend. Fleet utilization was 95%, with planned drydocks and upgrades anticipated in Q3 2024. The LNG market remains volatile but supportive with LNG prices above $9/MMBtu due to energy security concerns.
CoolCo (NYSE: CLCO / CLCO.OL) has entered into a 14-year Time Charter Party with GAIL (India) for one of its newbuild LNG carriers. The charter will commence in early 2025, upon the vessel's delivery in the Gulf of Mexico. This agreement boosts CoolCo's total revenue backlog to nearly $1.9 billion, including extension options. GAIL, an investment-grade company, is India's leading natural gas provider and may extend the charter by two additional years. The new LNG carriers are among the most efficient and lowest-emission vessels globally. This contract aims to secure LNG supply to India, a rapidly growing market.
Cool Company (NYSE: CLCO / CLCO.OL) will host its First Quarter 2024 Earnings call and webcast on May 22, 2024, at 8:00 A.M. New York / 2:00 P.M. Oslo / 1:00 P.M. London. The webcast can be accessed via the Investors section of CoolCo's website. Analysts can participate in the Q&A session through teleconference, with call details provided on the website. The presentation materials will be downloadable, and a replay of the event will be available on-demand for one year.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.