18 May 2017capital raising announcement● Neutral
ADX extends the closing of its 1-for-5 offer at 1.3c (about $2.4m) from 23 to 26 May 2017, because many Western Australian holders had only just received the prospectus. Allotment moves to 2 June.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 May 2017capital raising announcement● Neutral
Letter to holders of parcels worth under $500, giving them priority access to shortfall shares at 1.3c to reach a marketable parcel of 38,462 shares. ADX is also considering a sale facility for unmarketable parcels; no decision made.
12 May 2017capital raising announcement● Neutral
ADX confirms the prospectus has been posted and the 1-for-5 offer at 1.3c (about $2.4m) opens today, closing 23 May 2017. Funds cover Nilde, Dougga and Parta work, farm-out talks and general costs. Timetable confirmation only.
3 May 2017capital raising announcement● Neutral
Advance letter to eligible shareholders on the 1-for-5 offer at 1.3c, closing 23 May 2017. Untaken entitlements lapse into the shortfall; no shareholder approval needed. Administrative notice repeating known terms.
3 May 2017capital raising announcement● Neutral
Letter telling shareholders with registered addresses outside Australia, New Zealand and the British Virgin Islands that they cannot take part in the 1.3c entitlement offer. Administrative notice.
1 May 2017capital raising announcement● Neutral
Prospectus for the 1-for-5 entitlement offer at 1.3c, raising up to $2,415,445. It describes the shares as highly speculative. Formal document for the already-announced raising; no new terms in the visible text.
1 May 2017capital raising announcement● NeutralMajor
ADX launches a 1-for-5 non-renounceable entitlement offer at 1.3c to raise about $2.4m, with shortfall available, lead managed by QA Capital. Funds go to Nilde and Dougga appraisal planning, Parta seismic and farm-out talks. Shares on issue would rise to about 1.115 billion if fully taken up.
1 May 2017capital raising announcement● Neutral
Letter to optionholders on the 1-for-5 offer at 1.3c. Options carry no entitlement unless exercised and shares issued before the 10 May record date. Last close was 1.5c. Administrative notice.
15 Nov 2016capital raising announcement● Neutral
Required disclosure on Tranche 1 of the placement: 46,014,748 shares issued, taking shares on issue to 844,213,866, with 0.27% dilution on the 7.1A portion. Lead manager QA Capital receives a 5% placement fee plus 1% management fee; placement not underwritten.
9 Nov 2016capital raising announcement● NeutralMajor
ADX raises $802,000 in a two-tranche placement at 0.7c: $322,000 now (46.0m shares) and $480,000 (68.6m shares) subject to shareholder approval at a mid-December meeting. Investors get one free option (2c, expiring 30 Nov 2017) per two shares. Funds go to Nilde and Dougga work, easing the cash shortfall.
11 May 2016capital raising announcement● Neutral
Placement details: 114.286m shares issued, taking shares on issue to 770,764,273 (8.52% dilution on the 7.1A portion). Lead manager QA Capital gets 5% placement fee plus 1% management fee and 5m options at 2c expiring 28 April 2017.
2 May 2016capital raising announcement▲ GoodMajor
ADX completed a placement of 114.286 million new shares at 0.7 cents to raise $800,000, led by QA Capital. The funds go mainly to Nilde appraisal and feasibility work and to working capital.
What it means for a shareholder
114m new shares at A$0.007 to raise about A$800,000. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (142,857 at the issue price), your slice goes from 0.0218% to 0.0185% of the company. To keep it you'd need 24,870 more shares - about A$174 at the issue price.
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10 Nov 2014capital raising announcement▲ Good
The share purchase plan, priced at 0.9 cents and capped at $250,000, closed 5 November oversubscribed by about 40%. Proceeds join the October placement to fund Tunisia and Romania exploration and working capital. Completes the raising begun on 14 October.
17 Oct 2014capital raising announcement● Neutral
Offer documents for the share purchase plan sent to eligible shareholders: up to A$15,000 each at 0.9 cents, capped at $250,000. Each director intends to apply for their full 1,666,666 shares. Administrative follow-up to the 14 October announcement.
14 Oct 2014capital raising announcement● Neutral
ADX offers eligible Australian and New Zealand shareholders up to A$15,000 each of shares at 0.9 cents, capped at A$250,000 (27.8 million shares). The price is a stated 17% discount to the recent average. Closes 5 November; follows the placement.
14 Oct 2014capital raising announcement● NeutralMajor
ADX completes a placement of 83.3 million new shares at 0.9 cents to raise $750,000, led by BBY. Funds go to Tunisia and Romania exploration work and working capital. A share purchase plan of up to $250,000 at the same price follows, diluting existing holders.
What it means for a shareholder
83.3m new shares at A$0.009 to raise about A$750,000. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (111,111 at the issue price), your slice goes from 0.0204% to 0.0177% of the company. To keep it you'd need 16,971 more shares - about A$153 at the issue price.
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16 Oct 2013capital raising announcement● NeutralMajor
ADX raised A$1.02m by placing 60 million shares at 1.7 cents to one institutional investor, for exploration and working capital. Shares on issue rise to 545,367,175 after settlement.
What it means for a shareholder
60.0m new shares at A$0.017 to raise about A$1.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (58,824 at the issue price), your slice goes from 0.0121% to 0.0108% of the company. To keep it you'd need 7,272 more shares - about A$124 at the issue price.
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22 Aug 2012capital raising announcement● NeutralMajor
ADX placed 47,058,825 new shares at 1.7 cents to raise $800,000, mainly for working capital. Shares on issue rise to 485,367,175. Romania is funded by the RAG farm-out; Dougga appraisal and Sicily drilling still depend on future farm-outs.
What it means for a shareholder
47.1m new shares at A$0.017 to raise about A$800,000. That's 9.7% dilution: every existing holder's slice gets 9.7% smaller. If you held A$1,000 of shares (58,824 at the issue price), your slice goes from 0.0134% to 0.0121% of the company. To keep it you'd need 6,316 more shares - about A$107 at the issue price.
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18 Nov 2011capital raising announcement● NeutralMajor
ADX completed a placement of 25,000,000 shares at 8 cents to raise $2.0m, led by Patersons, taking shares to 436m. A share purchase plan of up to $1.0m at 8 cents is to follow. Funds are for Tunisia and Romania work and working capital.
What it means for a shareholder
25.0m new shares at A$0.080 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 (12,500 at the issue price), your slice goes from 0.00304% to 0.00287% of the company. To keep it you'd need 760 more shares - about A$61 at the issue price.
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29 Dec 2010capital raising announcement▲ Good
ADX reports the Riedel Resources offer of up to 35m shares at 20c ($7m) has closed successfully. Riedel (to trade as ASX:RIE) will advise its listing timetable, continuing the minerals spin-off.
What it means for a shareholder
35.0m new shares at A$0.200 to raise about A$7.0m. That's 8.1% dilution: every existing holder's slice gets 8.1% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.00125% to 0.00115% of the company. To keep it you'd need 439 more shares - about A$88 at the issue price.
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10 Dec 2010capital raising announcement▲ GoodMajor
ADX completed its placement of 60,240,964 shares at 8.3c to raise $5m gross, which the chairman says was substantially oversubscribed. Funds go to Tunisia and Romania programs, Lambouka well costs, acquisitions and working capital. This resolves the placement flagged earlier in December.
What it means for a shareholder
60.2m new shares at A$0.083 to raise about A$5.0m. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (12,048 at the issue price), your slice goes from 0.00356% to 0.00302% of the company. To keep it you'd need 2,143 more shares - about A$178 at the issue price.
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22 Nov 2010capital raising announcement● Neutral
The Riedel Resources IPO is now open: up to 35m shares at 20c ($7m), with a 10m-share priority offer to ADX holders closing 8 December. Listing is targeted for 23 December 2010, continuing the minerals spin-off lodged on 12 November.
What it means for a shareholder
35.0m new shares at A$0.200 to raise about A$7.0m. That's 9.4% dilution: every existing holder's slice gets 9.4% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.00148% to 0.00134% of the company. To keep it you'd need 517 more shares - about A$103 at the issue price.
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2 June 2010capital raising announcement● Neutral
The rights issue closed 28 May with valid applications for 26.93m of 48.21m shares (about $4.04m at 15c). The 21.27m-share shortfall goes to underwriter Veritas, so the full roughly $7.23m is expected to be raised.
4 May 2010capital raising announcement● NeutralMajor
A fully underwritten (Veritas) 1-for-6 non-renounceable rights issue at 15c raises about $7.23m, with a free option per two new shares exercisable at 25c by 31 March 2011. Funds target the two Tunisian wells, 3D seismic, Romania studies and working capital. Closes 28 May.
21 Oct 2009capital raising announcement● NeutralMajor
Placed 28.57m shares at 10.5c to raise $3.0m for working capital, from sophisticated and institutional investors including RAB Energy Fund and Truestone clients. Slightly above August's 10c placement.
What it means for a shareholder
28.6m new shares at A$0.105 to raise about A$3.0m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held A$1,000 of shares (9,524 at the issue price), your slice goes from 0.00365% to 0.00329% of the company. To keep it you'd need 1,044 more shares - about A$110 at the issue price.
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27 Aug 2009capital raising announcement● Neutral
Issued 622,180 shares at 10c in lieu of consulting fees, taking quoted shares to 254.47m. Small non-cash issue.
27 Aug 2009capital raising announcement▲ GoodMajor
Placed 25.16m shares at 10c to raise $2.516m from sophisticated and institutional investors, including RAB Energy Fund. Funds go to working capital and the Kerkouane bond, ahead of Sambuca drilling in the first half of 2010. Price is double the 5c raising earlier in 2009.
What it means for a shareholder
25.2m new shares at A$0.100 to raise about A$2.5m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00437% to 0.00394% of the company. To keep it you'd need 1,100 more shares - about A$110 at the issue price.
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27 Feb 2009capital raising announcement● Neutral
Share Purchase Plan documents mailed: offers of $2,000, $3,500 or $5,000 at 90% of the 5-day average price, closing 20 March 2009. Last close was 2.5 cents. Total raise size not stated in the extracted text.
25 Feb 2009capital raising announcement● NeutralMajor
AuDAX announced a Share Purchase Plan for Australian and New Zealand shareholders, up to $5,000 each at 90% of the recent 5-day average price. Funds are for exploration, working capital and a drilling bond for Tunisia. Total raise size not stated.
28 Aug 2008capital raising announcement● NeutralMajor
AuDAX agreed to place up to 2,222,222 shares at 9 cents to raise up to A$2.0m, to complete the Pantelleria acquisition and for working capital. The share count appears to be a typo (corrected in the next release). Placement price is well below January's 30c.