Past year: ▼ 20%(10.0c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Aug 2018capital raising announcement● Neutral
The institutional part of the $0.10 entitlement offer raised about $2.59m, including $2.1m from DGR Global. The retail offer opens now and closes 28 August; the full $10.1m remains underwritten by a Mather-associated entity.
10 Aug 2018capital raising announcement● Neutral
Retail offer booklet for the 1-for-4 entitlement offer at $0.10 to raise about $10.1m, closing 28 August 2018. Shareholders taking up their full entitlement can apply for shortfall shares. Fully underwritten by Samuel Holdings. Repeats terms already announced.
8 Aug 2018capital raising announcement● NeutralMajor
Armour launched a 1-for-4 entitlement offer at $0.10 a share to raise about $10.1m, fully underwritten by an entity associated with chairman Nicholas Mather. Funds support the FY2019 Kincora well program starting with Myall Creek 4A, plus corporate and operating costs and creditors.
18 Oct 2017capital raising announcement▲ GoodMajor
The $4.25m entitlement offer closed with about 94% take-up; the roughly $0.25m shortfall went to DGR Global as sub-underwriter. Armour will place up to a further $1m at 7.6c. The DGR debt facility is now fully extinguished and its security released.
22 Sept 2017capital raising announcement● Neutral
Armour dispatched the entitlement offer booklet to eligible shareholders. The 1-for-6 offer at 7.6c, about $4.26m, is fully underwritten. Administrative notice; no new terms.
15 Sept 2017capital raising announcement● Neutral
Notice to shareholders outside Australia, New Zealand, Hong Kong, Singapore and the British Virgin Islands that they cannot take part in the entitlement offer. Administrative; no new information. The letter cites an incorrect 31 August record date.
15 Sept 2017capital raising announcement● Neutral
Cover letter to eligible shareholders repeating the entitlement offer terms: 1-for-6 at 7.6c, about $4.26m, underwritten by Bizzell, closing 13 October. No new information.
14 Sept 2017capital raising announcement● Neutral
Offer booklet for the 1-for-6 non-renounceable entitlement offer at 7.6c, raising up to about $4.25m, fully underwritten by Bizzell Capital Partners. It closes 13 October 2017. This is the offer flagged earlier; the booklet states the shares should be considered speculative.
14 Sept 2017capital raising announcement● Neutral
Notice to optionholders about the 7.6c entitlement offer. Options carry no participation rights and would need exercising before the record date; exercise prices are above the share price, so action is unlikely. Repeats known terms. The letter's record date (15 Sep) conflicts with the 19 Sep stated elsewhere.
14 Sept 2017capital raising announcement● NeutralMajor
Armour launches the 7.6c entitlement offer: about 56.0m new shares to raise roughly $4.26m, underwritten by Bizzell (a director-controlled entity). Shares would rise to about 392.0m. Funds go to the Kincora restart, creditors and working capital.
What it means for a shareholder
56.0m new shares at about A$0.0761 to raise about A$4.3m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (13,146 at the issue price), your slice goes from 0.00391% to 0.00335% of the company. To keep it you'd need 2,191 more shares - about A$167 at the issue price.
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30 May 2017capital raising announcement▲ GoodMajor
Conditions were met for M.H. Carnegie's second tranche, triggering $5.75m of subscriptions plus about $7m from other investors pending shareholder approval. Noteholders and trustee approved the increase to $45m. The entitlement offer is expected within a month.
26 Apr 2017capital raising announcement▲ GoodMajor
Armour is lifting its convertible note issue by up to $10m to $45m, taking the total raising to over $50m. A $1m placement at 7.6c is done; the 1-for-6 entitlement offer at 7.6c (about $4.25m, Bizzell underwritten) follows. $19m of notes subscribed so far.
26 Apr 2017capital raising announcement● Neutral
Armour issued 13,157,895 shares at 7.6c in the placement, about $1m, with a 6% fee payable to Bizzell Capital Partners. The 2,070,005 shares issued under the 7.1A capacity dilute holders by 0.62%. Funds go to the Kincora restart. Note: the text also states $0.76, which looks like a typo.
6 Apr 2017capital raising announcement● Neutral
Armour paid the interest on its convertible notes to 31 March 2017 by issuing 5,620,358 more notes at $0.11 rather than cash. This preserves cash but adds to notes on issue, now 179,081,543, convertible into shares one for one.
16 Dec 2016capital raising announcement▲ GoodMajor
MH Carnegie signed definitive agreements for up to $18.25m of convertible notes and paid the first $2.5m. A further $10.8m was subscribed by related parties, including DGR's $9.4m in part repayment of its loan. Notes are 15%, convertible at $0.11, due September 2019.
21 Nov 2016capital raising announcement● NeutralMajor
Armour launched a recapitalisation of up to $40m: convertible notes of up to $35m at 15%, with MH Carnegie committing up to $17.5m, plus a 1-for-6 entitlement offer at 7.6c raising about $4.05m. DGR would take $10.4m of securities in part repayment of its loan. Subject to definitive agreements and shareholder approval.
1 Sept 2016capital raising announcement▲ GoodMajor
The 40,063,785 Armour shares taken over in the AEGP settlement were resold to institutional and sophisticated investors at 7.6c, raising about $3.05m. Proceeds go to final payments owed to Origin and working capital. This resolves the share disposal flagged on 16 August.
23 Oct 2012capital raising announcement● Neutral
Lakes Oil is offering $10 converting notes at 10% interest, converting at 0.2c per share. Armour, a 12.99% holder, intends to subscribe to lift its stake to 15%, up to about $1.4m. Proceeds fund Otway-1 and further wells with Armour.
20 Apr 2012capital raising announcement● Neutral
Replacement prospectus (dated 20 March 2012) offering 150 million shares at $0.50 to raise $75 million, with one attaching option per four shares expiring 31 August 2014. Underwritten to $50 million by Samuel Holdings. Re-release of the offer document already summarised.
What it means for a shareholder
150m new shares at A$0.500 to raise about A$75.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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20 Apr 2012capital raising announcement▲ GoodMajor
ASX circular confirms the IPO raised $75 million from 150 million shares at $0.50, with one free option per four shares. Quotation starts 26 April 2012; 78.95 million shares are escrowed 24 months. Activity is shale gas exploration in northern Australia.
What it means for a shareholder
150m new shares at A$0.500 to raise about A$75.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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