2 July 2014capital raising announcement● Neutral
Appendix 3B for 9,550,000 AZZGA convertible notes at $2.00, part of the 9.75m placement. 10% interest, convert 1:3 into shares, mature 30 October 2023. Administrative follow-up to the 24 June raising.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 June 2014capital raising announcement▲ GoodMajor
Antares raised $19.5m through 9.75m convertible notes at $2.00, heavily oversubscribed per the company. Notes on issue rise to 29.75m ($59.5m face). Funds go to its three Permian projects and other opportunities.
15 May 2014capital raising announcement● NeutralMajor
Antares received applications for 1,415,000 more AZZG convertible notes at $2.00, raising $2.83m for its Permian projects. Notes on issue rise to 20m ($40m face), continuing the funding path chosen after the sale was withdrawn.
7 Oct 2013capital raising announcement▲ GoodMajor
Antares placed 5m more convertible notes at $2.00 to institutions, raising $10m and taking notes on issue to 15m ($30m face). Funds are for faster drilling at Northern Star and the Southern Star northern extension.
31 July 2013capital raising announcement▲ Good
The placement of 2.98m convertible notes at $2.00 ($5.96m) is finalised, with 10m notes now on issue. The text says the 67c conversion strike is a 42% premium to the 47c close.
22 July 2013capital raising announcement▲ GoodMajor
Antares raised $5.96m by placing 2.98m convertible notes at $2.00 each to institutions, taking notes on issue to 10m ($20m face value). Funds are for faster drilling at Northern Star and the Southern Star northern extension.
17 June 2010capital raising announcement▲ GoodMajor
Antares placed 20.5m new shares at 60 cents to institutions, raising $12.3m for Eagle Ford development. The price is a 7% premium to the prior close of 56 cents. It follows the $19.2m placement at 64c in February 2010.
What it means for a shareholder
20.5m new shares at A$0.600 to raise about A$12.3m. That's 7.7% dilution: every existing holder's slice gets 7.7% smaller. If you held A$1,000 of shares (1,667 at the issue price), your slice goes from 0.000676% to 0.000624% of the company. To keep it you'd need 139 more shares - about A$83 at the issue price.
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22 Feb 2010capital raising announcement▲ GoodMajor
Antares completed a placement of 30,000,000 shares to raise $19.2m (64 cents per share, calculated), led by Patersons, with a heavy scale-back. It funds ongoing development of the Eagle Ford acreage and adds institutional holders.
What it means for a shareholder
30.0m new shares at about A$0.640 to raise about A$19.2m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (1,563 at the issue price), your slice goes from 0.000634% to 0.000565% of the company. To keep it you'd need 190 more shares - about A$122 at the issue price.
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16 Dec 2009capital raising announcement▲ GoodMajor
Antares issued 5,000,000 new shares at 40 cents (about $2.0m, calculated) to Galena Asset Management, a Trafigura subsidiary, introduced by Truestone Capital. The shares are an unsolicited placement to a new top-twenty holder.
What it means for a shareholder
5.0m new shares at A$0.400 to raise about A$2.0m. That's 2.0% dilution: every existing holder's slice gets 2.0% smaller. If you held A$1,000 of shares (2,500 at the issue price), your slice goes from 0.00101% to 0.000994% of the company. To keep it you'd need 51 more shares - about A$20 at the issue price.
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16 Sept 2009capital raising announcement▲ GoodMajor
The share purchase plan closed 9 September more than 100% oversubscribed, and the board accepted all valid applications. 16,890,000 new shares were issued, which is more than the 8m shares/$2.0m originally targeted, resolving the open SPP thread.
26 Aug 2009capital raising announcement● Neutral
Share purchase plan offer documents mailed: eligible Australian and New Zealand shareholders can apply for A$2,500 to A$15,000 of shares at 25 cents, closing 9 September 2009. Follows the 5 August announcement; no new terms.
5 Aug 2009capital raising announcement▲ GoodMajor
Antares completed a $10.0m placement of 40m shares at 25 cents, scaled back from a planned 27m shares ($6.75m) on strong demand. It also offers shareholders a share purchase plan at 25 cents, capped at $2.0m, to buy more Eagle Ford acreage.
What it means for a shareholder
40.0m new shares at A$0.250 to raise about A$10.0m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (4,000 at the issue price), your slice goes from 0.00217% to 0.00178% of the company. To keep it you'd need 867 more shares - about A$217 at the issue price.
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25 Aug 2008capital raising announcement▲ GoodMajor
Antares will place 24 million shares with US investor HEP Oil at $0.10 to raise $2.4m, a 43% premium to the prior close, mainly to fund Yellow Rose. HEP will hold about 13% afterwards.
What it means for a shareholder
24.0m new shares at A$0.100 to raise about A$2.4m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00624% to 0.00543% of the company. To keep it you'd need 1,498 more shares - about A$150 at the issue price.
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8 Jan 2008capital raising announcement● Neutral
Antares is making its first draw on the Cornell equity line, issuing A$300,000 of shares at a 2% discount to the lowest daily VWAP, provided VWAP stays above 40 cents. A 3% commission applies. A small raise, in line with the December facility.
18 Dec 2007capital raising announcement▲ GoodMajor
Antares secured an A$20m equity line with Cornell Capital (YA Global) over 36 months. It can draw up to A$300,000 per 10 trading days at a 2% discount to the lowest daily VWAP, with a 3% commission. It is optional funding, not cash raised.
26 June 2006capital raising announcement● Neutral
Antares cancelled 1,091,000 shares bought back on-market for about $412,360 under its ongoing buy-back. Routine share-count housekeeping.
8 June 2006capital raising announcement● Neutral
Antares cancelled 684,000 shares bought back on-market for $273,679 under its ongoing buy-back. Routine share-count housekeeping.
4 Apr 2006capital raising announcement● Neutral
Antares cancelled 66,000 shares bought back on-market for $28,930, part of its ongoing buy-back. Routine share-count housekeeping.
15 Feb 2006capital raising announcement● Neutral
Antares cancelled 300,000 shares bought back on-market for $118,500, as part of its ongoing buy-back. Routine share-count housekeeping.