Aankondiging • Sep 27
Cool Company Seeks to Delist from New York Stock Exchange and Euronext Growth Oslo Upon Completion of the Merger Cool Company Ltd. and EPS Ventures announced they are in advanced discussions regarding a potential transaction under which EPS would acquire all of the outstanding shares of CoolCo that are not already held by EPS in exchange for $9.65 in cash per common share. The transaction would be implemented through a cash merger of a wholly owned subsidiary of EPS with and into CoolCo under the laws of Bermuda. Following completion of the merger, the company would be wholly owned by EPS and would seek to be delisted from the New York Stock Exchange and Euronext Growth Oslo. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$9.31, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total loss to shareholders of 15% over the past year. Aankondiging • Sep 24
EPS Ventures Ltd signed a agreement in principle to acquire remaining 40.7% stake in Cool Company Ltd. (OB:CLCO) for approximately $210 million. EPS Ventures Ltd signed a agreement in principle to acquire remaining 40.7% stake in Cool Company Ltd. (OB:CLCO) for approximately $210 million on September 24, 2025. A cash consideration valued at $9.65 per share will be paid by EPS Ventures Ltd. Upon completion, EPS Ventures Ltd will own 100% stake in Cool Company Ltd and would seek to be delisted from the New York Stock Exchange and Euronext Growth Oslo.
The Board of Directors of CoolCo (the “Board”) has established an independent Special Committee, comprised solely of independent and disinterested directors, with its own independent legal and financial advisors, to review and negotiate the terms of the potential transaction. The Special Committee intends to recommend to the Board the approval of the proposed terms of the transaction, subject to the completion of mutually acceptable definitive agreements. The Company and EPS are targeting a closing of the potential transaction during the fourth quarter of 2025 or the first quarter of 2026, subject to requisite approvals of the transaction, including by holders of a majority of the common shares of CoolCo and the satisfaction of certain other customary closing conditions.
Evercore Partners Limited acted as financial advisor for Cool Company Ltd. Credit Agricole CIB Holdings Limited acted as financial advisor for EPS Ventures Ltd. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for EPS Ventures Ltd. Latham & Watkins LLP acted as legal advisor for Cool Company Ltd. New Risk • Aug 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (17% net profit margin). Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.22 (down from US$0.48 in 2Q 2024). Revenue: US$81.8m (up 3.7% from 2Q 2024). Net income: US$11.9m (down 55% from 2Q 2024). Profit margin: 14% (down from 33% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 74%. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.7%. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 16% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (22% net profit margin). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$7.02, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total loss to shareholders of 35% over the past year. Reported Earnings • May 22
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: US$0.17 (down from US$0.68 in 1Q 2024). Revenue: US$85.5m (up 2.3% from 1Q 2024). Net income: US$9.07m (down 75% from 1Q 2024). Profit margin: 11% (down from 44% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 40%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Oil and Gas industry in the US. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$5.36, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Oil and Gas industry in the US. Total loss to shareholders of 45% over the past year. Reported Earnings • Apr 06
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$1.83 (down from US$3.25 in FY 2023). Revenue: US$322.5m (down 11% from FY 2023). Net income: US$98.1m (down 44% from FY 2023). Profit margin: 30% (down from 48% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Oil and Gas industry in the US. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to US$5.40, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total loss to shareholders of 46% over the past year. Reported Earnings • Feb 28
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$1.83 (down from US$3.25 in FY 2023). Revenue: US$338.5m (down 6.3% from FY 2023). Net income: US$98.1m (down 44% from FY 2023). Profit margin: 29% (down from 48% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is expected to decline by 2.0% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$7.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total loss to shareholders of 20% over the past year. Declared Dividend • Nov 25
Third quarter dividend reduced to US$0.15 Dividend of US$0.15 is 63% lower than last year. Ex-date: 2nd December 2024 Payment date: 13th December 2024 Dividend yield will be 16%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but not covered by cash flows (113% cash payout ratio). The dividend has increased by an average of 1.2% per year over the past 2 years and payments have been stable during that time. EPS is expected to decline by 9.0% over the next 2 years. However, it would need to fall by 74% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 22
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: US$0.15 (down from US$0.72 in 3Q 2023). Revenue: US$82.4m (down 6.7% from 3Q 2023). Net income: US$8.15m (down 79% from 3Q 2023). Profit margin: 9.9% (down from 44% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 61%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Oil and Gas industry in the US. Aankondiging • Nov 21
Cool Company Ltd. Declares Dividend for the Third Quarter of 2024, Payable on or Around December 13, 2024 In line with Cool Company Ltd.’s variable dividend policy, the Board has declared a Third Quarter dividend of $0.15 per common share. The record date is December 2, 2024 and the dividend will be distributed to DTC-registered shareholders on or around December 9, 2024, while due to the implementation of the Central Securities Depositories Regulation in Norway, the dividend will be distributed to Euronext VPS-registered shareholders on or around December 13, 2024. Aankondiging • Nov 07
Cool Company Ltd., Annual General Meeting, Nov 19, 2026 Cool Company Ltd., Annual General Meeting, Nov 19, 2026. Reported Earnings • Aug 30
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: US$0.48 (down from US$0.84 in 2Q 2023). Revenue: US$83.4m (down 2.9% from 2Q 2023). Net income: US$26.1m (down 42% from 2Q 2023). Profit margin: 31% (down from 52% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 39%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Oil and Gas industry in the US. Aankondiging • Aug 29
Cool Company Ltd. Announces Cash Dividend, Payable on or About September 16, 2024 Cool Company Ltd. announced cash dividend amount of $0.41 per share. Payment date is On or about September 16, 2024. Record date is September 9, 2024. Ex-date is September 9, 2024. Reported Earnings • May 23
First quarter 2024 earnings released: EPS: US$0.68 (vs US$0.84 in 1Q 2023) First quarter 2024 results: EPS: US$0.68 (down from US$0.84 in 1Q 2023). Revenue: US$88.1m (up 2.7% from 1Q 2023). Net income: US$36.6m (down 19% from 1Q 2023). Profit margin: 42% (down from 52% in 1Q 2023). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Oil and Gas industry in the US. Aankondiging • May 22
Cool Company Ltd. Announces Dividend Cool Company Ltd. announced Dividend amount: $0.41 per share, Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK. NYSE: Last day including right: May 30, 2024. Ex-date: May 31, 2024. Record date: May 31, 2024. Payment date: On or about June 10, 2024. OSE: Last day including right: May 30, 2024. Ex-date: May 30, 2024. Record date: May 31, 2024. Payment date: On or about June 13, 2024. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: US$3.25 (vs US$2.31 in FY 2022) Full year 2023 results: EPS: US$3.25 (up from US$2.31 in FY 2022). Revenue: US$361.4m (up 74% from FY 2022). Net income: US$174.7m (up 87% from FY 2022). Profit margin: 48% (up from 45% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in the US. Aankondiging • Feb 28
Cool Company Ltd. Announces Dividend, Payable on or About March 18, 2024 Cool Company Ltd. announced Dividend amount: $0.41 per share, Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK. Last day including right: March 7, 2024. Ex-date: March 8, 2024. Record date: March 11, 2024. Payment date: On or about March 18, 2024. Due to the implementation of Central Securities Depository Regulation in Norway, dividends payable to shares registered in the VPS will be distributed on or about March 21, 2024. Buy Or Sell Opportunity • Feb 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to US$10.69. The fair value is estimated to be US$13.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 154% over the last year. Earnings per share has grown by 51%. Revenue is forecast to grow by 4.2% in 2 years. Earnings are forecast to decline by 37% in the next 2 years. Aankondiging • Nov 30
Cool Company Ltd. Approves Executive Changes Cool Company Ltd. at its AGM held on November 29, 2023 approved to elect Mr. Sami Iskander, Ms. Joanna Zhou and Mr. Richard Tyrrell as a Director of the Company. New Risk • Nov 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 17% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Aankondiging • Nov 29
Cool Company Ltd. Approves Cash Dividend, Payable on or Around December 15, 2023 In line with the Cool Company Ltd.’s variable dividend policy, the Board has declared a Third Quarter dividend of $0.41 per ordinary share. The record date is December 7, 2023 and the dividend will be distributed to DTC-registered shareholders on or around December 15, 2023, while due to the implementation of the Central Securities Depositories Regulation in Norway, the dividend will be distributed to Euronext VPS-registered shareholders on or around December 20, 2023. Ex-date: December 6, 2023. Aankondiging • Aug 31
Cool Company Ltd. Approves Cash Dividend, Payable on or About September 18, 2023 Cool Company Ltd. approved cash dividend amount: $0.41 per share; Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK. Last day including right: September 7, 2023; Ex-date: September 8, 2023; Record date: September 11, 2023; Payment date: On or about September 18, 2023. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about September 22, 2023. Date of approval: August 30, 2023. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$12.87, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Oil and Gas industry in the US. Simply Wall St's valuation model estimates the intrinsic value at US$18.00 per share. Aankondiging • May 23
Cool Company Ltd. Announces Dividend, Payable on or About June 9, 2023 Cool Company Ltd. announced Dividend amount: $0.41 per share Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK. Last day including right: May 30, 2023 Ex-date: May 31, 2023 Record date: June 1, 2023 Payment date: On or about June 9, 2023. Board Change • Mar 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.