Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 June 2018investor presentation● Neutral
Restates the prospectus strategy: Big Star in Dawson County, Texas has 5 wellbores (2 producing), 240 acres held by production and 1,747 net exploration acres, with no reserves or resources. Plans to optimise wells and acquire oil and gas assets.
6 June 2018listing compliance notice● Neutral
ASX removed the company's convertible notes (BNLG) from the official list at close on 6 June 2018. They had been suspended since 15 September 2015, and the removal follows the DOCA ending. Ordinary shares are unaffected.
6 June 2018listing compliance notice● Neutral
Pre-quotation letter to ASX confirms 331,000,017 shares and 75m unlisted options at reinstatement. It discloses ASIC's November 2017 Federal Court case against the company and former director James Cruickshank over continuous disclosure. ASIC seeks declarations only, not penalties or damages from the company.
6 June 2018listing compliance notice▲ GoodMajor
ASX announced the shares will be reinstated to official quotation at 10:00am on Friday 8 June 2018, ending a suspension since September 2015. There will be 331,000,017 quoted shares, plus 75m unquoted options at A$0.01 expiring 30 June 2020.
6 June 2018other● Neutral
Statement of commitments updates planned spending to actual funds raised: A$2,026,875 over two years. This includes A$880,000 on oil and gas and new project review, A$500,000 to the Creditors' Trust, and A$646,875 working capital.
6 June 2018other● Neutral
Corporate governance statement, current at reinstatement, sets out compliance with ASX governance recommendations. Administrative; the text is truncated and carries no new business information.
6 June 2018other● Neutral
Securities trading policy covering insider trading restrictions for directors and staff. Administrative document with no new business information.
6 June 2018other● Neutral
Top 20 shareholder list as at reinstatement: the top 20 hold 62.32% of the company. The largest holder (Pershing nominee) has 8.52%, and directors Joanne Kendrick and Ross Warner each hold 4.53%. Pager Partners entities also appear in the list.
6 June 2018security holder rights change● Neutral
Terms of the 75m First Placement Options: exercisable at A$0.01, expiring 30 June 2020, unquoted and freely transferable. Standard terms; repeats information already known.
4 June 2018other● Neutral
Company formally changed its name from Antares Energy to Big Star Energy after the 31 May shareholder approval. ASX reserved the ticker 'BNL' and a new website is live. Work with ASX on share reinstatement continues.
31 May 2018agm notice● Neutral
Shareholders passed all resolutions at the overdue 2015, 2016 and 2017 AGMs on a show of hands, including the remuneration reports, Michael Pollak's re-election, a new constitution, the name change to Big Star Energy and a 7.1A placement approval.
23 May 2018capital raising announcement▲ GoodMajor
Public offer closed, raising A$1.65m before costs from 165m new shares at A$0.01. It was oversubscribed and applicants were scaled back. The company is now working to complete the recapitalisation and be reinstated to ASX trading.
22 May 2018capital raising announcement● Neutral
Public offer closing date extended again, to 30 May 2018, with trading resumption now targeted for 7 June 2018. Another timetable slip.
16 May 2018capital raising announcement● Neutral
Public offer closing date extended again, to 23 May 2018, with trading resumption now targeted for 30 May 2018. Another timetable slip.
7 May 2018capital raising announcement● Neutral
Public offer closing date extended to 16 May 2018, with trading resumption now targeted for 24 May 2018. Timetable slip only.
3 May 2018regulatory community update● Neutral
ASX granted a waiver letting the company issue the Second Placement shares by 23 May 2018: 148m shares to unrelated parties and 2m to related parties, all at A$0.01. Procedural.
20 Apr 2018capital raising announcement● Neutral
Public offer closing date moved to 4 May 2018, with share trading targeted to resume 17 May 2018. Timetable change only.
11 Apr 2018capital raising announcement▲ GoodMajor
Prospectus for a public offer of 165m shares at A$0.01 to raise A$1.65m, also covering resale of the 150m First Placement Shares. It is a step toward ASX re-quotation; the document warns of the risk re-quotation requirements are not met.
9 Apr 2018capital raising announcement▲ GoodMajor
First Placement completed: 150m shares at A$0.0025 plus 75m unlisted options, raising A$376,875 before costs, following the 23 January 2018 EGM approval. First cash injected under the recapitalisation.
3 Apr 2018other● Neutral
Appendix 4G corporate governance checklist lodged with the 2017 annual report, dated 3 April 2018. Administrative; no new business information.
3 Apr 2018annual report● Neutral
2017 annual report, the first under the new board appointed 23 March 2018, with Stantons as auditor. Old directors formally ceased when the deed took effect. Text provided is truncated, so no financial figures are stated here.
23 Mar 2018director officer appointment▲ GoodMajor
The Pager deed was fully effectuated on 23 March 2018 and terminated, ending the administration; the Creditors' Trust is set up. New board: Ross Warner (chair), Joanne Kendrick (managing director), Michael Pollak; Andrew Whitten is secretary. Next: placement, prospectus, ASX reinstatement.
15 Mar 2018material agreement● Neutral
Deed effectuation deadline extended again, to 30 March 2018, to finalise effectuation. No new substance.
28 Feb 2018material agreement● Neutral
Deed effectuation deadline extended again, to 16 March 2018, to allow time to finalise effectuation. No reason beyond that is given.
19 Feb 2018regulatory community update● Neutral
ASX waived the one-month limit so related-party securities approved at the 23 January 2018 meeting can be issued by 23 April 2018: 92.5m shares at A$0.0025, 46.25m options at A$0.01 strike, and 6m shares at A$0.01.
5 Feb 2018material agreement● Neutral
Deed effectuation deadline extended to 28 February 2018 to finalise the process following the 23 January 2018 EGM. Another short delay; no detail on what remains outstanding.
19 Dec 2017security holder rights change● Neutral
Planned 15-for-1 share consolidation, cutting about 240m shares to about 16m (estimate), subject to the 23 January 2018 shareholder vote. Record date is 29 January 2018. Part of the recapitalisation, not a change in value by itself.
19 Dec 2017agm notice▲ Good
ASX and ASIC approved the meeting documents, and the EGM to vote on the Pager recapitalisation is set for 23 January 2018, with an independent expert's report from Stantons. The recapitalisation is meant to fund a return to ASX trading.
31 Oct 2017material agreement● Neutral
The deed's effectuation deadline was extended from 31 October 2017 to 31 January 2018 to allow time to convene the shareholder meeting. Draft meeting documents are with ASX and ASIC; the meeting is expected in December 2017. A further delay to the Pager recapitalisation.
25 Oct 2017auditor change● Neutral
Stantons International was appointed auditor effective 17 October 2017, after Ernst & Young resigned following the deed administrators' decision to engage a new firm. Administrative; confirms the Stantons appointment already noted.
