Each one in plain English, with the numbers worked through for a shareholder.
18 May 2009capital raising announcement▲ Good
Allotment completed on 15 May: 134,529,914 shares at 1.5c (106.3M rights issue plus 28.2M placement), raising $2.018M. Shares on issue rise to 453,370,569. About $850,000 of cut-back applications await shareholder approval for a further placement.
What it means for a shareholder
135m new shares at A$0.015 to raise about A$2.0m. That's 36% dilution: every existing holder's slice gets 36% smaller. If you held A$1,000 of shares (66,667 at the issue price), your slice goes from 0.0278% to 0.0178% of the company. To keep it you'd need 37,389 more shares - about A$561 at the issue price.
13 May 2009capital raising announcement▲ GoodMajor
The 1.5c rights issue closed heavily over-subscribed, raising about $2.018M: $1.594M from the rights issue plus $424,000 from extra applications. About $1M more in applications will need shareholder approval. Chairman says MEC is moving to fund a PEP 11 well (Baleen prospect).
Offer documents for the 1.5c rights issue were posted to shareholders; the offer closes 8 May and extra shares may be applied for. Brokers get a 4% stamping fee. Administrative step in the known raising.
Bounty despatches the required notice of the 1-for-3 rights issue at 1.5c (up to about $1.59M, 106.3M shares). It says funds are needed to keep participating in its projects. Offer documents follow on 17 April. Procedural notice of a known raising.
Offer document for the 1-for-3 rights issue at 1.5c, raising up to about $1.59M, opens 17 April and closes 8 May 2009. Shareholders may apply for extra shares; the issue is partly underwritten. Maximum shares on issue after the issue: 425,120,855.
Bounty launches a 1-for-3 non-renounceable rights issue at 1.5c, up to 106.3M shares to raise about $1.59M. The price is a 48% discount to the prior close; only 10% is underwritten. Funds go to Cooper, Surat and Tanzania work and working capital.
What it means for a shareholder
106m new shares at about A$0.015 to raise about A$1.6m. That's 31% dilution: every existing holder's slice gets 31% smaller. If you held A$1,000 of shares (66,855 at the issue price), your slice goes from 0.0279% to 0.0193% of the company. To keep it you'd need 29,627 more shares - about A$443 at the issue price.
Bounty placed 34M shares at 4 cents (about $1.36M) to exempt investors, within its 15% placement capacity. Shares on issue rise to 300.84M. Funds go to drilling, development and working capital; continues the raising authorised 30 July.
What it means for a shareholder
34.0m new shares at A$0.040 to raise about A$1.4m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.0104% to 0.00913% of the company. To keep it you'd need 3,544 more shares - about A$142 at the issue price.
Bounty issued 7.105M shares at 3.5 cents (about $249,000) under the authority approved on 30 July. Shares on issue rise to 266.84M. Proceeds go to drilling, development and working capital.
What it means for a shareholder
7.1m new shares at A$0.035 to raise about A$249,000. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.0119% to 0.0116% of the company. To keep it you'd need 846 more shares - about A$30 at the issue price.
The share purchase plan is fully subscribed at $2.44M, including a further 19.86M shares at 3.5 cents (about $695,000) with the shortfall placed. Shares on issue reach 259.74M. A further $360,000 from investors awaits shareholder approval, for about $2.80M in total.
What it means for a shareholder
19.9m new shares at A$0.035 to raise about A$695,000. That's 7.6% dilution: every existing holder's slice gets 7.6% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.0119% to 0.011% of the company. To keep it you'd need 2,366 more shares - about A$83 at the issue price.
Bounty extends the share purchase plan close from 20 March to 31 March 2008, giving holders time to consider the Kiliwani North gas discovery. Allotment moves to 4 April. Price stays at 3.5 cents.
The share purchase plan opens: up to $5,000 per holder at 3.5 cents, targeting about $1.99M from up to 56.99M shares. Funds go to Wisteria-1, Nyuni and Utopia. Brokers get a 4% fee. Closing date stated as 20 March (one cover note says 21 March).
28 Feb 2008capital raising announcement● NeutralMajor
Bounty launches a share purchase plan at 3.5 cents per share, an 11% discount to the five-day average price. Proceeds fund Wisteria-1, Nyuni drilling and Utopia development. This is the capital raising promised at the AGM; the size was corrected in a later release.
14 Mar 2007capital raising announcement● NeutralMajor
Bounty agreed to place 22,347,628 shares at 4.5 cents to raise $1,005,643 for working capital. This delivers the equity raising the chairman flagged in November, at a price well below the 8 cent placement of Dec 2005, so existing holders are diluted.
What it means for a shareholder
22.3m new shares at A$0.045 to raise about A$1.0m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (22,222 at the issue price), your slice goes from 0.0138% to 0.0121% of the company. To keep it you'd need 3,080 more shares - about A$139 at the issue price.
After the December 2005 placement and a loan repayment, Bounty reports about $2.4 million of additional working capital. It plans Utopia development (40%), an EP 412 well owed by Empire, Tanzania seismic review, and farm-outs of PEP 11 and PEP 38215.
