Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Oct 2017capital raising announcement▲ GoodMajor
Retail entitlement offer closed 16 October raising about $102m at $0.75, taking the total to about $301m for the Lattice purchase. Retail take-up was about 53%; Seven Group takes the ~64m unclaimed shares, lifting its stake to 25.6%.
5 Oct 2017capital raising announcement● Neutral
Beach confirms it has dispatched the retail entitlement offer booklet and the letter to ineligible shareholders. Only eligible Australian and New Zealand retail holders can take part in the $0.75, 3-for-14 offer. Administrative step with no new terms.
2 Oct 2017capital raising announcement● Neutral
Lodgement of the retail entitlement offer booklet: 3 new shares for every 14 held at $0.75, closing 16 October. Unused rights are non-renounceable and lapse without value. Repeats terms already announced.
2 Oct 2017capital raising announcement▲ GoodMajor
Beach's institutional entitlement offer raised about $201m of the $301m, with roughly 98% take-up including Seven Group. The $100m retail offer at $0.75 a share (3 for 14) opens 5 October and closes 16 October.
26 Apr 2012capital raising announcement● NeutralMajor
Beach completes the retail entitlement offer, raising A$78.7m at A$1.40. Retail holders took only about A$10.5m; underwriters take the remaining ~48.7m shares. Total raising is A$345.3m. Shares are allotted 3 May and trade 4 May.
What it means for a shareholder
48.7m new shares at about A$1.62 to raise about A$78.7m. That's 3.7% dilution: every existing holder's slice gets 3.7% smaller. If you held A$1,000 of shares (619 at the issue price), your slice goes from 0.0000493% to 0.0000474% of the company. To keep it you'd need 24 more shares - about A$39 at the issue price.
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5 Apr 2012capital raising announcement▲ Good
Beach confirms it has received net A$260m from the institutional entitlement offer (A$114m) and the 3.95% convertible notes (A$146m). Retail offer is now put at about A$81m, closing 20 April. Funds go to Cooper Basin, Egypt and Tanzania spending over 2-3 years.
4 Apr 2012capital raising announcement● Neutral
Retail offer booklet: eligible holders can buy 1 new share per 8 held at $1.40, closing 20 April 2012, to raise about $78m. Entitlements cannot be traded and lapse if unused. Repeats terms already announced, including the $150m notes at 3.95%.
4 Apr 2012capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand, and other ineligible holders, that they cannot join the retail entitlement offer. Notes the institutional part raised about $117m and retail about $78m. Administrative notice.
29 Mar 2012capital raising announcement▲ GoodMajor
Beach completes the institutional offer, raising about A$117m at A$1.40, and prices A$150m of five-year convertible notes at 3.95%, convertible at A$2.00. Both were heavily oversubscribed per management. A retail offer of about A$78m follows, closing 20 April.
27 Mar 2012capital raising announcement● Neutral
Preliminary offering circular for Beach's convertible notes, sold outside the United States via Citi, Goldman Sachs and Macquarie. Coupon, size and conversion price are still blank; Beach's last close was A$1.575. Final terms follow on pricing.
27 Mar 2012capital raising announcement● NeutralMajor
Beach launches a A$345m raise: a fully underwritten 1-for-8 entitlement offer at A$1.40 (about A$195m, 11.1% discount to last close) plus about A$150m of convertible notes due 2017. Funds capex over 2-3 years across Cooper Basin, Egypt and Tanzania.
27 Mar 2012capital raising announcement● Neutral
ASX circular restating the timetable for Beach's fully underwritten 1-for-8 entitlement offer at $1.40 (about $195m) and the planned $150m convertible notes. Retail offer closes 20 April 2012. Administrative notice, nothing new.
5 Oct 2011capital raising announcement▲ GoodMajor
Adelaide Energy shareholders rejected the option grant to Beach, so Beach instead took 59.5m ADE shares at $0.165 (about A$9.8m). This lifts Beach's stake to about 19.95%. ADE is Beach's 10% partner in PEL 218.
15 Aug 2011capital raising announcement▲ GoodMajor
Beach commits $12.1m to Adelaide Energy: 14m shares at 16.5c now, then a further 59.5m shares and 75m options (40c strike, to 2016) if shareholders approve. This would give Beach 19.95%, deepening ties in the Nappamerri Trough shale gas play.
22 Nov 2010capital raising announcement● Neutral
Victoria Petroleum, which operates the Cooper permits Impress holds 40% of, raised A$26m at 37c a share and holds 10.15% of Impress. It says it is assessing Beach's proposal. This is a possible complication for the Impress scheme (inference).
19 Aug 2010capital raising announcement● Neutral
Somerton's media release on its $13.8m raising puts Beach's holding at 46.07% (earlier context said 51.9%). Somerton is evaluating an incomplete, non-binding Beach farm-in offer and targets unconventional oil.
13 Aug 2010capital raising announcement● NeutralMajor
Somerton, 51.9% held by Beach per earlier context, is raising $13.8m at 13c: a $0.7m placement and a 2-for-1 rights issue, 90% underwritten. Beach backs it and signs a Strategic Alliance Agreement providing support services; $0.7m repays Mitsui.
21 Aug 2009capital raising announcement▲ Good
Beach entered a conditional underwriting agreement with CommSec for its dividend reinvestment plan, covering five dividends including the 2c special dividend (possibly partially underwritten). Special dividend DRP shares priced at market less 5%. Underwriting is not certain; conditions are partly outside Beach's control.
6 June 2008capital raising announcement▲ GoodMajor
Beach completed its oversubscribed placement: 133,637,474 shares at A$1.43 raised A$191m. Eligible holders on the 16 June record date can buy up to A$5,000 of shares at the same price, and a 1-for-10 bonus option issue at A$2.00 follows.
6 June 2008capital raising announcement▲ Good
Media release on the completed placement: 133,637,474 shares at A$1.43 raised A$191m, to fund the three Egyptian acquisitions (about A$150m including development; potential 8 mmb net 2P in FY09). Repeats the 6 June raising news; BP pre-emption expires 28 June.
What it means for a shareholder
134m new shares at A$1.43 to raise about A$191m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (699 at the issue price), your slice goes from 0.0000785% to 0.0000683% of the company. To keep it you'd need 105 more shares - about A$150 at the issue price.
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2 June 2008capital raising announcement● NeutralMajor
Beach announced a roughly A$190m placement to fully fund its three Egyptian acquisitions, about A$150m including development costs, plus a share purchase plan (up to A$5,000 each) and a 1-for-10 bonus options issue at A$2.00. Other Middle East/North Africa deals are being evaluated.
20 Dec 2006capital raising announcement● Neutral
Re-release of Beach's 19 December press release on the FIELDS redemption, distributed under another company's code. About 40 million shares at A$1.39 are issued 21 December, taking Beach to about 883m shares.
What it means for a shareholder
40.0m new shares at A$1.39 to raise about A$55.6m. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held A$1,000 of shares (719 at the issue price), your slice goes from 0.0000853% to 0.0000814% of the company. To keep it you'd need 34 more shares - about A$47 at the issue price.
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19 Dec 2006capital raising announcement▲ GoodMajor
About 40 million Beach shares (about A$55.6m at A$1.39) will be issued 21 December to FIELDS holders who redeemed. This is far below the up-to-90.6m maximum. Shares on issue rise to about 883m; only 4.5% of FIELDS remain.
6 Nov 2006capital raising announcement● NeutralMajor
Beach's 2-for-7 rights issue (about A$247m, A$1.39 per share) left a shortfall of 50,069,714 shares, with about 72% of rights taken up. The underwriters cover the shortfall. This completes the funding for the Delhi acquisition debt paydown.
27 Oct 2006capital raising announcement● Neutral
ASX cover announcement for the FIELDS holder prospectus: up to 90.6m shares at A$1.39, up to A$126m, for working capital. Conditional on AGM approval on 23 November; allotment expected 21 December. Duplicates the prospectus.
What it means for a shareholder
90.6m new shares at A$1.39 to raise about A$126m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (719 at the issue price), your slice goes from 0.000108% to 0.0000954% of the company. To keep it you'd need 98 more shares - about A$136 at the issue price.
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27 Oct 2006capital raising announcement● NeutralMajor
Beach lodges a prospectus offering eligible FIELDS holders up to 90.6m new shares at A$1.39, raising up to A$126m, closing 11 December. Subject to shareholder approval at the 23 November AGM. Follows the Delhi acquisition funding arrangements.
13 Oct 2006capital raising announcement▲ GoodMajor
Beach says 97% of its last 50.6 million options were exercised, adding A$49m of working capital. Shares on issue are now about 664 million. The A$247m rights issue at A$1.39 for the Delhi acquisition is still to come.
3 Oct 2006capital raising announcement● NeutralMajor
Beach lodged the prospectus for its 2-for-7 renounceable rights issue at A$1.39, raising about A$247m from ~178m new shares, underwritten by Euroz and CommSec. Closes 31 Oct; proceeds repay part of the debt used for the Delhi acquisition.
15 Sept 2006capital raising announcement● Neutral
Beach confirms it has issued the 81,074,064 placement shares and gives the required compliance notice. Shares on issue now total 624,897,671, with 40.4m listed bonus options outstanding. Completes the placement announced 13 September.
13 Sept 2006capital raising announcement● NeutralMajor
Beach placed about 81 million shares at A$1.39 to raise A$112.7m from Euroz clients, to pay down the Delhi acquisition debt and fund FIELDS note redemptions. This is the placement part of the funding, alongside the A$247m underwritten 2-for-7 rights issue.
