30 Mar 2021capital raising announcement▲ Good
The share purchase plan was oversubscribed by about 36%, with applications for A$3.123m against a A$2m target at A$0.05. Applications are scaled back pro rata to 64.041%, completing the equity raising.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Mar 2021capital raising announcement● Neutral
Tranche 1 completed: 150m new shares issued at A$0.05, about A$7.5m. The share purchase plan opens, closing 26 March. Directors' 13.5m-share tranche (A$0.675m) still needs shareholder approval at the May AGM.
What it means for a shareholder
150m new shares at A$0.050 to raise about A$7.5m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00173% to 0.00153% of the company. To keep it you'd need 2,591 more shares - about A$130 at the issue price.
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1 Mar 2021capital raising announcement● NeutralMajor
Australis raises A$8.175m in a placement at A$0.05 (12.3% discount): 150m shares now, plus 13.5m to directors subject to AGM approval. A share purchase plan of up to A$2m follows. Funds go to restarting TMS leasing and working capital, backing partner talks.
30 Apr 2019capital raising announcement● Neutral
Tranche 2 of the February placement completed: 3.1m shares at A$0.35 (about A$1.1m) to chairman Jon Stewart and director Alan Watson, approved at the 29 April AGM. Funds are for rig and services negotiations after well six, more TMS leases and working capital.
27 Feb 2019capital raising announcement▲ Good
Tranche 1 of the placement completed: 83.9m shares at A$0.35, about A$29.4m, trading from 28 February. The chairman's and a director's A$1.1m Tranche 2 still needs AGM approval. Pro forma cash after both is stated as US$59m.
What it means for a shareholder
83.9m new shares at A$0.350 to raise about A$29.4m. That's 8.6% dilution: every existing holder's slice gets 8.6% smaller. If you held A$1,000 of shares (2,857 at the issue price), your slice goes from 0.000319% to 0.000292% of the company. To keep it you'd need 267 more shares - about A$93 at the issue price.
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18 Feb 2019capital raising announcement▲ GoodMajor
The A$30.5m placement succeeded, with 87m shares at A$0.35 and demand well above the shares available. Tranche 1 (about 83.9m shares, A$29.4m) settles 27 February; Tranche 2 (about 3.1m shares to the chairman and a director) awaits April AGM approval.
What it means for a shareholder
87.0m new shares at A$0.350 to raise about A$30.5m. That's 8.9% dilution: every existing holder's slice gets 8.9% smaller. If you held A$1,000 of shares (2,857 at the issue price), your slice goes from 0.000319% to 0.000291% of the company. To keep it you'd need 277 more shares - about A$97 at the issue price.
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15 Feb 2019capital raising announcement● NeutralMajor
Seeks to raise up to A$30.5m via a placement of about 87m shares at A$0.35, a 12.5% discount to last close. Funds go to rig and services flexibility after well six, more core leases and working capital. About A$1.1m from the chairman and a director needs shareholder approval.
29 Mar 2018capital raising announcement▲ Good
Settlement of the A$39.2m placement of 115.28m shares at A$0.34 is complete, with new shares trading from 3 April 2018. Shareholders will be asked to ratify the issue at the upcoming AGM.
What it means for a shareholder
115m new shares at A$0.340 to raise about A$39.2m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (2,941 at the issue price), your slice goes from 0.00041% to 0.000354% of the company. To keep it you'd need 473 more shares - about A$161 at the issue price.
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22 Mar 2018capital raising announcement▲ GoodMajor
Placement of 115.28m shares at A$0.34 raises about A$39.2m, a 5.6% discount to the last close. Pro forma cash is about US$47m, to fund 4-10 initial TMS wells from second half 2018. This answers the open financing thread, with debt still being sought.
13 Apr 2017capital raising announcement▲ GoodMajor
Australis completed the A$100m placement of 434.78 million shares at $0.23 to fund the Encana TMS purchase. The price was adjusted down to US$68.3m, mainly for US$10.8m of net oil sales since November. Post-deal net cash is US$22m; March production about 1,700 bbl/d.
What it means for a shareholder
435m new shares at A$0.230 to raise about A$100m. That's 38% dilution: every existing holder's slice gets 38% smaller. If you held A$1,000 of shares (4,348 at the issue price), your slice goes from 0.000609% to 0.000378% of the company. To keep it you'd need 2,646 more shares - about A$609 at the issue price.
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