Past year: ▲ 82%(3.30c – 6.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
12 Dec 2016capital raising announcement▲ GoodMajor
The rights issue raised the maximum A$772,207 (772.2m shares at 0.1c) and was oversubscribed, with shortfall applications of A$406,215 to be scaled back. About 386.1m options will also be issued. This funds the upfront cost of the Indonesian acquisition.
28 Nov 2016capital raising announcement● Neutral
Administrative notice that the prospectus and personalised entitlement forms have been sent to eligible shareholders for the A$772,207 rights issue. No new information.
21 Nov 2016capital raising announcement● Neutral
Letter telling shareholders with addresses outside Australia and New Zealand they cannot take part in the rights issue. No other new information.
21 Nov 2016capital raising announcement● Neutral
Chairman's letter to eligible shareholders restating the rights issue terms: 3-for-5 at 0.1c, up to A$772,207, record date 23 November. Adds no new information.
18 Nov 2016capital raising announcement● NeutralMajor
Bass launches a non-underwritten 3-for-5 rights issue at 0.1c to raise up to about A$772,207, with a free option for every two new shares. Funds pay the upfront cost of the Indonesian acquisition announced 19 October.
18 Nov 2016capital raising announcement● Neutral
Prospectus for the A$772,207 rights issue (up to 514.8m shares as stated in the prospectus; other documents say 772.2m) at 0.1c, with attaching options. The offer is not underwritten and the document calls it highly speculative. Repeats the 18 November terms.
8 June 2016capital raising announcement● NeutralMajor
The rights issue closed with acceptances for 439.6m shares (about $439,619). The remaining 43.0m shares (about $43,010) go to underwriter Adelaide Equity Partners, so the full roughly $483,000 is raised. New shares are expected to trade on 14 June.
17 May 2016capital raising announcement● Neutral
Administrative notice that the offer document and personalised acceptance forms have been sent to eligible shareholders for the $483,000 rights issue. No new information.
10 May 2016capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand they cannot join the rights issue. It also discloses an underwriting fee of 6% of the amount underwritten. Otherwise it repeats known terms.
10 May 2016capital raising announcement● Neutral
Shareholder letter restating the rights issue terms: 3 for 5 at 0.1c, up to 482.6m shares and about $483,000, record date 16 May. It repeats the 9 May announcement and adds no new information.
9 May 2016capital raising announcement● NeutralMajor
Bass launches a fully underwritten 3-for-5 rights issue at 0.1c per share to raise up to about $483,000, underwritten by Adelaide Equity Partners. Funds are for finding new oil and gas project interests and working capital, following the unsuccessful farm-out marketing.
9 May 2016capital raising announcement● Neutral
Offer booklet for the 3-for-5 rights issue at 0.1c per share, closing 3 June 2016 and underwritten by Adelaide Equity Partners. It carries the terms already announced on 9 May; no new business information in the visible text.
31 Mar 2015capital raising announcement▲ GoodMajor
The rights issue closed with shareholders taking 127.8m shares, about $639,170. The remaining 73.3m shares go to underwriter Merchant Corporate Finance, so the raising is completed in full, about $1m in total, as underwritten.
12 Mar 2015capital raising announcement● Neutral
Administrative notice that rights issue booklets and forms were sent to shareholders on 12 March 2015. Terms are unchanged: 1-for-3 at 0.5c, closing 26 March.
4 Mar 2015capital raising announcement● Neutral
Administrative shareholder letter restating the rights issue terms (1-for-3 at 0.5c, up to about $1m) and timetable, with closing on 26 March 2015. No new information.
3 Mar 2015capital raising announcement● Neutral
Offer booklet for the 1-for-3 rights issue at 0.5c, closing 26 March 2015, underwritten by Merchant Corporate Finance. It is the formal document for the raising already announced; text is truncated and no new figures appear.
3 Mar 2015capital raising announcement▲ GoodMajor
BAS launches a 1-for-3 non-renounceable rights issue at 0.5c to raise up to about $1m (about 201m shares), fully underwritten by Merchant Corporate Finance. Directors and Cooper take up entitlements, and Cooper sub-underwrites up to 20m shares. Funds go to seismic interpretation and new projects.
13 Nov 2014capital raising announcement▲ GoodMajor
Gordon and three incoming directors commit to a placement of 85 million shares at 0.5c to raise $425,000, subject to shareholder approval and their election. A non-renounceable entitlement issue at the same price will follow the AGM. ASIC extended the AGM deadline to 16 December.
What it means for a shareholder
85.0m new shares at A$0.005 to raise about A$425,000. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0386% to 0.0332% of the company. To keep it you'd need 32,800 more shares - about A$164 at the issue price.
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17 Sept 2012capital raising announcement▲ GoodMajor
BAS issued 74.04m shares, completing the entitlement issue and raising about $1.1m after GMP placed the shortfall. Shares on issue are now 518.3m. Chairman says BAS is funded for its near-term committed work programme.
What it means for a shareholder
74.0m new shares at about A$0.0149 to raise about A$1.1m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (67,309 at the issue price), your slice goes from 0.013% to 0.0114% of the company. To keep it you'd need 9,615 more shares - about A$143 at the issue price.
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12 Sept 2012capital raising announcement● Neutral
The entitlement issue closed with shareholders applying for 54.17m shares, raising $812,605. Underwriter GMP will place the 19.87m-share shortfall. Take-up was about 73% of the roughly 74m shares offered.
17 Aug 2012capital raising announcement● Neutral
Offer booklet for the fully underwritten 1-for-6 entitlement issue at 1.5c, raising up to $1,110,614, closing 7 September. Directors say they will take up their full entitlements. Restates terms already announced.
14 Aug 2012capital raising announcement● Neutral
Shareholder letter on the 1-for-6 entitlement issue at 1.5c, about a 12% discount to the five-day average price. It would issue up to about 74m shares to raise about $1.1m, closing 7 September. Restates the terms already announced.
What it means for a shareholder
74.0m new shares at about A$0.0149 to raise about A$1.1m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (67,273 at the issue price), your slice goes from 0.013% to 0.0114% of the company. To keep it you'd need 9,605 more shares - about A$143 at the issue price.
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13 Aug 2012capital raising announcement▲ GoodMajor
BAS placed 56.2m shares at 1.5c with Cooper Energy ($843,089, taking Cooper to 16.7%) and launched a fully underwritten 1-for-6 entitlement issue at 1.5c to raise about $1.1m. Dr Mackie leaves; Andrew Whittle becomes interim Managing Director. Company says it is funded through 2013.
What it means for a shareholder
56.2m new shares at A$0.015 to raise about A$843,089. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (66,667 at the issue price), your slice goes from 0.0172% to 0.015% of the company. To keep it you'd need 9,655 more shares - about A$145 at the issue price.
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13 Aug 2012capital raising announcement▲ Good
Cooper Energy confirms buying 56.2m BAS shares, taking it to 16.7%, and sub-underwriting the rights issue, which could lift it to 19.9%. Cooper says BAS's value is not fully reflected in its share price. Counterparty view of the same deal.
17 Oct 2011capital raising announcement▲ GoodMajor
BAS allotted 97.0m shares, completing the underwritten rights issue at 2.5c and raising about $2.43m after the underwriter placed the shortfall. Shares on issue are now 388.04m. Funds are for Windermere-3 and Gippsland/Bass Basin work.
What it means for a shareholder
97.0m new shares at about A$0.0251 to raise about A$2.4m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (39,918 at the issue price), your slice goes from 0.0103% to 0.00823% of the company. To keep it you'd need 9,978 more shares - about A$250 at the issue price.
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12 Oct 2011capital raising announcement● Neutral
The rights issue closed with only $537,339 (21.5m shares) taken up by shareholders. Underwriter GMP Securities will place the remaining 75.5m shortfall shares, so the raise still proceeds.
8 Sept 2011capital raising announcement● NeutralMajor
BAS launches a fully underwritten (GMP Securities) 1-for-3 non-renounceable rights issue at 2.5 cents, raising up to about $2.43 million, a 20% discount to 3.1 cents. Funds include $1.56 million for Windermere-3. Cash was $2.1 million at end August.
8 Sept 2011capital raising announcement● Neutral
Offer booklet for the 1-for-3 rights issue at 2.5 cents, raising up to about $2.4 million, closing 7 October 2011. Windermere-3 results are expected in November 2011. Repeats the same-day notice.
30 Oct 2009capital raising announcement▲ GoodMajor
The rights issue closed oversubscribed, raising $3.11m at 3 cents from 103.6m shares. A further 31.9m shares were placed to sub-underwriters at 3 cents for $958,360, taking the total to $4.07m before costs. Shares on issue rise to 291,030,250, from about 155m. This resolves the funding thread for now.
What it means for a shareholder
31.9m new shares at A$0.030 to raise about A$958,360. That's 24% dilution: every existing holder's slice gets 24% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0322% to 0.0246% of the company. To keep it you'd need 10,260 more shares - about A$308 at the issue price.
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2 Oct 2009capital raising announcement● Neutral
Formal letter of offer for the 2-for-3 rights issue at 3.0 cents, now a 39% discount to the 4.9 cent close on 1 October. The offer closes 20 October. Terms are unchanged from the September notice.
