United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 15, 2002
Coastal Caribbean Oils & Minerals, Ltd.
(Exact name of registrant as specified in its charter)
Bermuda 1-4668 None
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(State or other jurisdiction (Commission (IRS employer
of incorporation) File Number ) Identification No.)
Clarendon House, Church Street, Hamilton HM DX, BERMUDA None
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (441) 295-1422
Not Applicable (Former name or former address,
if changed since last report.)
FORM 8-K
COASTAL CARIBBEAN OILS & MINERALS, LTD.
Item 5. Other Events
On July 15, 2002, Coastal Caribbean Oils & Minerals, Ltd announced an
extension of the expiration date of its offering of approximately 11 million
shares of common stock exclusively to the Company's shareholders. The offering
will now expire at 4:30 P.M. EDT on July 31, 2002.
A copy of the July 15, 2002 press release issued by the Company is
filed herewith as an exhibit and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
(99) Additional Exhibits
(a) Press Release of Coastal Caribbean
Oils & Minerals, Ltd. dated
June 15, 2002.
FORM 8-K
COASTAL CARIBBEAN OILS & MINERALS, LTD.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COASTAL CARIBBEAN OILS & MINERALS, LTD.
(Registrant)
By /s/ Benjamin W. Heath
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Benjamin W. Heath
President
Date: July 15, 2002
Exhibit 99 (a)
Coastal Caribbean Oils & Minerals, Ltd.
News Release
FOR IMMEDIATE RELEASE
COASTAL CARIBBEAN EXTENDS EXPIRATION DATE
FOR RIGHTS OFFERING TO JULY 31, 2002
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APALACHICOLA, FL, July 15, 2002 -- Coastal Caribbean Oils & Minerals, Ltd. [OTC
Bulletin Board: COCBF.OB; Boston: COCBF] announced today that the expiration
time and date of its rights offering, which previously had been 4:30 p.m. on
July 15, 2002, has been extended to 4:30 p.m. on July 31, 2002.
A Coastal Caribbean spokesman said the Company has become aware that a
significant number of shareholders have not yet received the prospectus and
other offering materials and that other shareholders have only received the
materials during the past few days. The Company believes that these
circumstances are attributable to a significant delay in the mail delivery of
the Company's materials to over 1,200 shareholders whose shares are held in
brokerage accounts. The Company believes that this extension will provide
shareholders the opportunity to evaluate the offering, consult with their broker
and make an informed investment decision in an orderly manner.
Other than the extension of the expiration date, all of the other terms
of the Company's rights offering (including a shareholder's right to revoke a
subscription) remain unchanged, the spokesman said. The terms of the rights
offering are described in more detail in the Company's prospectus, dated June
17, 2002, a copy of which may be obtained by contacting the Company's
information agent, Strategic Stock Surveillance, LLC at (212) 497-9018.
Shareholders who have already subscribed need not take any additional
action due to this extension. Shareholders who held the Company's common stock
in their own name as of the June 17, 2002 record date, but have not yet received
the prospectus and other offering materials, or shareholders who have questions
concerning the rights offering, should contact American Stock Transfer & Trust
Company at (800) 937-5449.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state or other jurisdiction.
Statements included in this press release which are not historical in
nature are intended to be forward looking statements. The Company cautions
readers that forward looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
indicated in the forward looking statements. Among the risks and uncertainties
are the uncertainty of any decision favorable to Coastal Petroleum in its
litigation against the state of Florida and the substantial cost of continuing
the litigation.
Contact: James R. Joyce, at (203) 245-7664.