Each one in plain English, with the numbers worked through for a shareholder.
30 Jan 2012capital raising announcement▲ GoodMajor
Placement of about 12.7m shares at 50c (A$0.33 pence-equivalent GBP) raises about $6.35m from US, UK and Australian investors, alongside the AIM listing. Funds go to Morocco and Australia exploration, AIM costs and working capital. Follows $2m raised from Range at 40c.
What it means for a shareholder
12.7m new shares at A$0.500 to raise about A$6.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (2,000 at the issue price), your slice goes from 0.00228% to 0.00199% of the company. To keep it you'd need 289 more shares - about A$145 at the issue price.
Range Resources confirms its $2m investment, 5 million shares at 40c. It says Tangiers intends to farm down Tarfaya (75%) soon and expects a 3D campaign and two wells there in 2012, plus two Australian wells. These are Range's statements of anticipated plans.
What it means for a shareholder
5.0m new shares at A$0.400 to raise about A$2.0m. That's 5.7% dilution: every existing holder's slice gets 5.7% smaller. If you held A$1,000 of shares (2,500 at the issue price), your slice goes from 0.00305% to 0.00287% of the company. To keep it you'd need 152 more shares - about A$61 at the issue price.
Range Resources subscribes for 5,000,000 shares at 40c, a $2m placement, to fund the proposed AIM admission and add working capital. This follows the 24.5c share price in August, and adds cash against the $2.43m held at 30 June.
What it means for a shareholder
5.0m new shares at A$0.400 to raise about A$2.0m. That's 5.7% dilution: every existing holder's slice gets 5.7% smaller. If you held A$1,000 of shares (2,500 at the issue price), your slice goes from 0.00305% to 0.00287% of the company. To keep it you'd need 152 more shares - about A$61 at the issue price.
27 Jan 2011capital raising announcement▲ GoodMajor
Rights issue closed on 21 January 2011 fully subscribed. Shareholders took up 79% of entitlements (32.2m options); underwriters take the remaining 8.76m. It raised about $819,000 before costs, completing the pending raising.
Re-release of the 22 December rights issue prospectus with the revised timetable (record date 6 January 2011). It covers 40.96m options at 2c, raising about $819,000, underwritten by Carmichael. No new terms.
The underwritten rights issue prospectus is lodged. ASX required a later record date (4 Jan 2011), so the issue grows to 40.96m rights at 2c, raising about $819,000 rather than about $712,000. This updates the 22 November terms; the extra rights come from the 10.69m placement shares.
22 Nov 2010capital raising announcement▲ GoodMajor
Raised $1.7m via a placement of 10.69m shares at 16 cents, the maximum under its 15% capacity. A fully underwritten rights issue (1 for 2, 2 cents per right, exercisable at 16 cents to Oct 2013) targets about $712,000. Shares would reach 81.9m.
What it means for a shareholder
10.7m new shares at A$0.160 to raise about A$1.7m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (6,250 at the issue price), your slice goes from 0.00877% to 0.00763% of the company. To keep it you'd need 938 more shares - about A$150 at the issue price.
The remaining shortfall from the entitlement issue was fully placed: 22.79m shares at 4 cents to Carmichael clients, raising $911,528. This completes the raising, bringing total shares to 71.24m, about double the earlier count.
What it means for a shareholder
22.8m new shares at A$0.040 to raise about A$911,528. That's 24% dilution: every existing holder's slice gets 24% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.0351% to 0.0266% of the company. To keep it you'd need 7,997 more shares - about A$320 at the issue price.
Shareholders took up only 12.12m of 35.62m shares offered, about 34%, leaving a 23.5m-share shortfall. Carmichael will try to place the shortfall. At 4 cents, the take-up raised about $485,000 before any shortfall placement.
Reminder letter that the 1-for-1 issue at 4 cents closes on 19 March 2010. Funds are for Tarfaya, extra ATP-587 spending and working capital. No new information.
The entitlement issue prospectus, supplementary prospectus and acceptance forms have been posted to shareholders in Australia and New Zealand. Administrative notice only.
Cover letter to shareholders for the 1-for-1 entitlement issue at 4 cents, about $1.42m before costs. Funds are for Tarfaya and working capital. Carmichael gets a 1% management fee and 5% on shortfall placed. Repeats the prospectus; no new substance.
8 Feb 2010capital raising announcement● NeutralMajor
DVM launches a 1-for-1 non-renounceable entitlement issue at 4 cents to raise about $1.42m, not underwritten, with DJ Carmichael as broker for any shortfall. The funds are mainly for the new Tarfaya project. The first raising since the 2008 prospectus; it would double the share count.
11 July 2008capital raising announcement▲ GoodMajor
DVM closed its prospectus fully subscribed, raising $750,000 before costs and gaining about 150 new shareholders. It believes it now meets the holder requirement and will seek ASX requotation. Resolves the 280-holder shortfall; the well is expected to reach its target within a week.
DVM says brokers advise enough applications under its 1 July 2008 prospectus will come in to seek re-listing on ASX. The closing date is extended to 15 July 2008. Continues the re-quotation effort after the share suspension.
A replacement prospectus dated 1 July 2008 replaces the 3 June one, and applications made under the old one will not be accepted and will be returned. The offer terms shown are unchanged: up to 3.75m shares at $0.20 with a free option, raising up to $750,000.
What it means for a shareholder
3.8m new shares at A$0.200 to raise about A$750,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
3 June 2008capital raising announcement● NeutralMajor
DVM offers up to 3.75m shares at $0.20, each with a free $0.20 option expiring 30 June 2010, to raise up to $750,000. It needs 400 holders with $2,000 parcels to be requoted and has 280. Shares are on a 1-for-7 consolidated basis.
What it means for a shareholder
3.8m new shares at A$0.200 to raise about A$750,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Update on the 2.5 cent options expiring 30 June 2007: 28.1m exercised, raising $702,544, with more notices received to convert on 9 July. All directors' remaining options have been exercised.
30 Mar 2007capital raising announcement▲ GoodMajor
Placement of 12.8m shares at 8 cents raises $1.025m, double the 4 cent price of the September 2006 placement. Funds are for expansion, possibly including using pre-emptive rights to increase its XDK stake, and assessing new projects.
What it means for a shareholder
12.8m new shares at A$0.080 to raise about A$1.0m. That's 85% dilution: every existing holder's slice gets 85% smaller. If you held A$1,000 of shares (12,500 at the issue price), your slice goes from 0.567% to 0.0833% of the company. To keep it you'd need 72,573 more shares - about A$5,806 at the issue price.
Placement of 18m shares at 4 cents to raise $720,000, plus 5m free options (2.5 cent exercise price, expiring 30 June 2007) subject to shareholder approval. Funds are for the digital media business, reviewing acquisitions and working capital.
What it means for a shareholder
18.0m new shares at A$0.040 to raise about A$720,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
