27 June 2011capital raising announcement● Neutral
Update on the placement. Text not readable, so no figures can be given.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 May 2011capital raising announcement● Neutral
Share purchase plan prospectus offering a priority offer to eligible shareholders (record date 11 May), closing 13 June, alongside the placement. Visible text gives no price or size.
24 May 2011capital raising announcement● NeutralMajor
Placement prospectus lodged 23 May for the capital raising, offers closing 13 June with a general meeting on 17 June. The visible text carries no raise size or price; it flags Birch and Niobrara as early-stage and high risk.
12 May 2011capital raising announcement● NeutralMajor
Announces a Niobrara Shale acquisition and a capital raising. Text is largely unreadable, so the size, price and acreage terms cannot be confirmed here; later releases describe Niobrara acreage with at least 85% WI and 65% NRI.
25 Jan 2011capital raising announcement● NeutralMajor
The placement closed, with 39.9 million shares placed at 3 cents to raise $1,197,000 before costs. Confirms the 17 January announcement.
What it means for a shareholder
39.9m new shares at A$0.030 to raise about A$1.2m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0113% to 0.00992% of the company. To keep it you'd need 4,492 more shares - about A$135 at the issue price.
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17 Jan 2011capital raising announcement● NeutralMajor
Announces a placement of up to 40 million shares at 3 cents to raise $1.2m before costs, for US exploration. No shareholder approval needed, using the 15% capacity. Priced well below the earlier 5c rights issue.
What it means for a shareholder
40.0m new shares at A$0.030 to raise about A$1.2m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0113% to 0.00992% of the company. To keep it you'd need 4,504 more shares - about A$135 at the issue price.
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1 Feb 2010capital raising announcement● Neutral
Appendix 3B for 75m listed underwriter options at $0.10 (expiring 29 Jan 2011 per the form), issued at $0.002 each as approved at the 30 Nov AGM. Administrative follow-through on the rights issue underwriting.
1 Feb 2010capital raising announcement● Neutral
Final 223,823 rights issue shares (replacing withdrawn applications) and attaching options were allotted on 29 January, completing the rights issue. Issued shares now total 286,051,718.
21 Dec 2009capital raising announcement● Neutral
Allotted a further 21.1m rights shares plus the underwriter's 99.2m shortfall shares, taking issued shares to 285.8m. Withdrawals of 223,823 shares will be reallocated by directors. The roughly $7.15m raising is essentially done.
15 Dec 2009capital raising announcement▼ Bad
Underwriter Allegra has paid $4.47m for 89.5m of the 99.2m shortfall shares. Because some sub-underwriters had problems, Austin agreed to extend the deadline to 17 Dec for the remaining 9.7m shares ($487k).
3 Dec 2009capital raising announcement● Neutral
Allotted 22.5m rights issue shares with 11.2m attaching 10c options (to Nov 2011); issued shares now 165.5m. Another 21.3m shares follow on 21 Dec, and the 99.2m underwriter shortfall shares will be issued as the underwriter applies.
30 Nov 2009capital raising announcement● NeutralMajor
Shareholders took up only 43.8m shares ($2.19m, 31.98%) of the rights issue. The underwriter, Allegra, must cover the 99.2m-share shortfall ($4.96m), so the full roughly $7.15m is expected within 5 working days. Funds Park City and PEL 105.
18 Nov 2009capital raising announcement▼ Bad
Supplementary prospectus for the 1-for-1, 5c rights issue (about $7.151m). The company warns it could be materially adverse to investors and lets earlier applicants withdraw until 18 Dec. Close stays 25 Nov; allotment moves to 21 Dec. Truncated, so the reason is not visible.
16 Nov 2009capital raising announcement● Neutral
The rights issue closing date moves from 18 to 25 November because a supplementary prospectus is coming. Resolution 10, covering the Newtak securities issue, is pulled from the 30 November AGM and will go to a later extraordinary meeting.
4 Nov 2009capital raising announcement● Neutral
Prospectus and acceptance forms for the 1-for-1 rights issue have been sent to eligible shareholders. Administrative notice only.
22 Oct 2009capital raising announcement● Neutral
Rights issue prospectus: 1-for-1 at 5 cents to raise about $7,151,000 before costs, with a 10c option per two new shares expiring 19 November 2011. Fully underwritten by Allegra Capital. Text is truncated, so the risk and project sections are not visible.
22 Oct 2009capital raising announcement● Neutral
Timetable for the rights issue: prospectus lodged 22 October, offer opens 4 November and closes 18 November, normal trading of new securities from 27 November. Administrative detail of the already announced offer.
22 Oct 2009capital raising announcement● Neutral
Formal offer of 143,025,859 new shares at 5 cents, 1-for-1, with a free 10c option per two shares expiring 19 November 2011. Record date 30 October; offer closes 18 November. Underwritten by Allegra. Follows the 8 October notice.
What it means for a shareholder
143m new shares at A$0.050 to raise about A$7.2m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00699% to 0.00466% of the company. To keep it you'd need 10,000 more shares - about A$500 at the issue price.
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8 Oct 2009capital raising announcement● NeutralMajor
Austin plans a fully underwritten 1-for-1 rights issue at 5 cents to raise about $7.2 million, underwritten by Allegra Capital. One free option (10c, two years) comes per two shares. Proceeds fund PEL 105, Kentucky expansion, acquisitions, working capital and paying down a loan facility.
5 Nov 2008capital raising announcement● NeutralMajor
A private Houston-based investor takes a AU$1 million placement of 5 million shares at A$0.20, well below the $0.31 of the recent share purchase plan and placement. The money is restricted to Moses Austin recompletions; further capital raising is said to be under way.
What it means for a shareholder
5.0m new shares at A$0.200 to raise about A$1.0m. That's 8.7% dilution: every existing holder's slice gets 8.7% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.0095% to 0.00867% of the company. To keep it you'd need 475 more shares - about A$95 at the issue price.
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20 June 2008capital raising announcement● NeutralMajor
Austin plans a placement of up to 14.5m shares at $0.31 (up to $4.5m) to institutions and private investors, plus up to 5m more within three months. The SPP raised about $2.5m. Shareholder approval is sought at a meeting around 30 July 2008.
What it means for a shareholder
14.5m new shares at A$0.310 to raise about A$4.5m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (3,226 at the issue price), your slice goes from 0.00613% to 0.0048% of the company. To keep it you'd need 889 more shares - about A$276 at the issue price.
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9 May 2008capital raising announcement● Neutral
SPP booklet gives terms: $0.31 per share, parcels of $1,000 to $5,000, opening 14 May and closing 30 May 2008, shares trading from 11 June. Repeats the Park City progress and the US$5 million investor funding. Detail of the 9 May announcement.
9 May 2008capital raising announcement● NeutralMajor
Austin offers eligible Australian and NZ shareholders a share purchase plan at $0.31 per share, a 10% discount to market, up to $5,000 each. Proceeds fund Park City development and general administration. No total target size is stated.
4 Apr 2008capital raising announcement▲ GoodMajor
The private investment is now finalised and funding has started, with better terms: the investor's payments and royalties (5% and 4.375%) start only on 1 January 2009. Austin keeps 65.625% net revenue interest through 2008, then 56.25%. Releases say US$5M; earlier ones said A$5m.
11 Mar 2008capital raising announcement▲ GoodMajor
Austin signed a non-binding letter of intent for a A$5m investment from a private Australian group to fund the first year of Park City development. Terms were not given in this release; details followed on 14 March.
5 June 2006capital raising announcement● NeutralMajor
Austin Exploration, an early-stage oil and gas explorer, offers 50 million new shares at $0.20 to raise $10 million, with up to $2 million more in oversubscriptions and a $9 million minimum. This is its initial public offer.
What it means for a shareholder
50.0m new shares at A$0.200 to raise about A$10.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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