Blue Energy Limited (ASX:BUL): announcements explained, share price and valuation

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

13 Nov 2006capital raising announcement▲ GoodMajor

EIV closed its oversubscribed placement, raising $5.658 million through 37.7 million shares at 15 cents. It resolves the October raising, which had a $5.25m top end. Funds go to Cooper Basin expansion and CBM development.

What it means for a shareholder

37.7m new shares at A$0.150 to raise about A$5.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

Create a free account to see this worked out for your own holding.

Discuss in chat

10 Oct 2006capital raising announcement▲ GoodMajor

EIV is placing 20-35 million shares at 15 cents to raise $3m-$5.25m, to fund Cooper Basin development and CBM work. Chairman Martino retires and Norm Zillman replaces him. Sharif Oussa becomes Managing Director, replacing Doherty, who stays as non-executive director.

What it means for a shareholder

35.0m new shares at A$0.150 to raise about A$5.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

Create a free account to see this worked out for your own holding.

Discuss in chat