14 July 2022capital raising announcement▲ GoodMajor
The remaining 37,654,688 unexercised BRKOB options were placed through the CPS Capital underwriting. This closes out the options exercise process begun in March; total proceeds are not stated here.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 July 2022capital raising announcement● Neutral
The final batch of option exercises produced 163,878,320 new shares. Options still unexercised will be placed under the CPS Capital underwriting from 7 March 2022. Adds to the share count; value of proceeds not stated.
6 Aug 2021capital raising announcement▲ GoodMajor
Brookside raised A$9.0m before costs via a CPS Capital-led placement to professional investors. Funds will lift its Rangers unit interest and fund a majority working interest in the Rangers well, the second of the planned 20-plus well program. Issue price and share count not stated in the text.
10 Feb 2021capital raising announcement▲ GoodMajor
Brookside raised A$8.25m before costs in an oversubscribed CPS Capital placement, fully funding the Jewell well, the first of a potential 20-plus well program. Price and share count are not stated in the text. Far exceeds the roughly A$1.2m cash held at December.
6 Oct 2020capital raising announcement▲ GoodMajor
The A$300,000 option offer closed fully subscribed, taking total offer proceeds to A$1,687,493; issue needs shareholder approval. Brookside will also issue 68m shares and 68m options to OEC for facility interest due to 31 December 2020. A general meeting will follow.
21 Sept 2020capital raising announcement● Neutral
The closing date of the 300m-option offer (A$0.011 options at A$0.001 each) is extended from August to 5pm WST on 2 October 2020. Terms are otherwise unchanged.
9 Sept 2020capital raising announcement▲ GoodMajor
Entitlement offer closed after the 99.4m-share shortfall was placed at A$0.005 (A$497,003) plus a 26.4m-share oversubscription placement (A$131,875). Total raised A$1,387,493 before costs, resolving the shortfall thread. Funds are for Orion acquisitions and working capital.
25 Aug 2020capital raising announcement● NeutralMajor
Entitlement offer closed with applications for 151.7m shares raising A$758,615, about 60% of the ~A$1.26m maximum. The remaining 99.4m shares, with free options, go to a shortfall placement via CPS Capital under the prospectus.
20 Aug 2020capital raising announcement● Neutral
Reminder that the entitlement offer closes at 5pm WST on 21 August, with payment by BPAY. No new information.
6 Aug 2020capital raising announcement● Neutral
Letter to shareholders on the 1-for-4 offer at A$0.005 with a free option (A$0.011, June 2022), plus 300m options at A$0.001. Raise up to ~A$1.56m; record date 6 Aug, closing 21 Aug. Option offer needs shareholder approval. Repeats the prospectus terms.
6 Aug 2020capital raising announcement● Neutral
Notice to option holders: existing options carry no right to join the entitlement offer unless exercised before the 6 Aug record date. No action needed otherwise. Administrative restatement of the offer terms.
6 Aug 2020capital raising announcement● Neutral
Notice to shareholders with addresses outside Australia and New Zealand that they are ineligible for the entitlement offer. Administrative; the offer terms repeat the prospectus (maximum 251,125,000 shares and 502,250,000 options).
3 Aug 2020capital raising announcement● Neutral
Prospectus for the entitlement offer of ~251m shares at A$0.005 (one free option per share, A$0.011, June 2022) to raise up to ~A$1.26m, plus the 300m option offer at A$0.001. It formalises the 31 July announcement; CPS Capital is lead manager.
What it means for a shareholder
251m new shares at A$0.005 to raise about A$1.3m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0199% to 0.0159% of the company. To keep it you'd need 49,975 more shares - about A$250 at the issue price.
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3 Aug 2020capital raising announcement● NeutralMajor
Brookside plans a 1-for-4 entitlement offer of ~251m shares at A$0.005 with a free option (A$0.011, June 2022), raising up to ~A$1.26m, plus up to 300m options at A$0.001 for A$300,000. CPS Capital is appointed adviser and lead manager.
What it means for a shareholder
251m new shares at A$0.005 to raise about A$1.3m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0199% to 0.0159% of the company. To keep it you'd need 49,975 more shares - about A$250 at the issue price.
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30 Jan 2019capital raising announcement▲ Good
The listed option placement closed with applications exceeding the 225,140,625 options offered. Allocations will be finalised and excess money refunded. This resolves the demand question on the option offer; no dollar amount is given beyond the earlier ~$13,500.
8 Jan 2019capital raising announcement● Neutral
Prospectus lodged for the placement of up to 225.1m new listed options to expiring option holders, closing 28 January 2019, with a shareholder meeting on 31 January and quotation expected 5 February. It formalises the December proposal; the meeting date has moved from 11 January.
12 Dec 2018capital raising announcement● Neutral
Proposed placement of up to 225.1m new listed options ($0.03, expiring 31 Dec 2020) at $0.0006 each, one for every three expiring options, raising ~$13,605 just to cover prospectus costs. Needs shareholder approval; framed as a reward for loyalty.
6 Apr 2018capital raising announcement▲ GoodMajor
Brookside raised A$3.16m through a placement of 197.5m shares at A$0.016, each with a free listed option (A$0.02, expiring 31 Dec 2018). Money will fund leasing in a new ~8,000 acre southern SCOOP area, 'SWISH'. Options need approval at the AGM.
What it means for a shareholder
198m new shares at A$0.016 to raise about A$3.2m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (62,500 at the issue price), your slice goes from 0.00791% to 0.00633% of the company. To keep it you'd need 15,625 more shares - about A$250 at the issue price.
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25 Jan 2017capital raising announcement▲ GoodMajor
Brookside placed 165m shares at $0.012 to raise A$1.98m, with one free option per two shares (exercisable at $0.02 by 31 Dec 2018). Proceeds fund STACK leasing and working capital. Larger than its earlier $0.01 placements.
What it means for a shareholder
165m new shares at A$0.012 to raise about A$2.0m. That's 21% dilution: every existing holder's slice gets 21% smaller. If you held A$1,000 of shares (83,333 at the issue price), your slice goes from 0.0133% to 0.0105% of the company. To keep it you'd need 22,000 more shares - about A$264 at the issue price.
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9 Dec 2016capital raising announcement▲ GoodMajor
A second Marathon well, ALTA BIA 1511 1-6-31MXH (~22,549 ft), was permitted on Brookside's leasehold. It also placed 40m shares at $0.01 to raise $400,000 for leasing and working capital.
What it means for a shareholder
40.0m new shares at A$0.010 to raise about A$400,000. That's 6.0% dilution: every existing holder's slice gets 6.0% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.016% to 0.015% of the company. To keep it you'd need 6,400 more shares - about A$64 at the issue price.
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24 Oct 2016capital raising announcement▲ GoodMajor
Brookside added ~100 acres of STACK leasehold, taking holdings to ~400 acres (up from ~300), and placed 60m shares at $0.01 to raise $600,000 for leasing and working capital. It expects more acreage by year-end to fully use the Merchant joint venture funds.
What it means for a shareholder
60.0m new shares at A$0.010 to raise about A$600,000. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.019% to 0.0171% of the company. To keep it you'd need 11,429 more shares - about A$114 at the issue price.
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6 Nov 2015capital raising announcement● Neutral
The placement is complete: 49,999,697 shares issued at $0.012 to raise about $600,000. The attaching options still need shareholder approval at the next meeting.
What it means for a shareholder
50.0m new shares at A$0.012 to raise about A$600,000. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (83,333 at the issue price), your slice goes from 0.0238% to 0.0208% of the company. To keep it you'd need 11,905 more shares - about A$143 at the issue price.
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2 Nov 2015capital raising announcement● NeutralMajor
Placement of up to 49,999,697 shares at $0.012 to raise about $600,000, with free 1-for-4 options at $0.02 expiring 2018. Cicero manages it for a 6% fee. Funds go to the main business and working capital.
What it means for a shareholder
50.0m new shares at A$0.012 to raise about A$600,000. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (83,333 at the issue price), your slice goes from 0.0238% to 0.0208% of the company. To keep it you'd need 11,905 more shares - about A$143 at the issue price.
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1 July 2015capital raising announcement▲ GoodMajor
The prospectus offer closed oversubscribed, raising $2.5m. DOCA conditions precedent are fulfilled, and completion is expected the following week, which would settle creditor claims.
9 June 2015capital raising announcement● NeutralMajor
Prospectus for up to 2.5 billion shares at $0.001 to raise up to $2.5m, after a 1-for-2 share consolidation approved 5 June. Includes a 4-for-1 priority offer to shareholders. Funds are mainly to pay creditors under the DOCA and allow relisting.
12 July 2013capital raising announcement▲ GoodMajor
Red Fork agrees to raise A$47.7m through a placement of 111m shares at A$0.43, not underwritten. Funds go to Mississippian development, more non-operated wells, a possible ~2,000-acre acquisition and working capital. 53m shares need approval at an EGM around 19 August.
10 Aug 2012capital raising announcement● NeutralMajor
Red Fork will raise A$50m through an underwritten placement of about 74.63m shares at A$0.67, an 8% discount, to fund faster Mississippian drilling, leasing and working capital. It needs shareholder approval at an EGM around 13 September 2012. Euroz is underwriter.
What it means for a shareholder
74.6m new shares at A$0.670 to raise about A$50.0m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (1,493 at the issue price), your slice goes from 0.000481% to 0.000388% of the company. To keep it you'd need 359 more shares - about A$241 at the issue price.
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9 Dec 2011capital raising announcement▲ GoodMajor
Placement of 40.46 million shares at A$0.69 raises A$27.9m before costs, within the 15% placement capacity, to fund operated drilling, leasing and non-operated wells. Priced well above the A$0.32 raise in March 2011; Euroz led.
What it means for a shareholder
40.5m new shares at A$0.690 to raise about A$27.9m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,449 at the issue price), your slice goes from 0.000537% to 0.000467% of the company. To keep it you'd need 217 more shares - about A$150 at the issue price.
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5 May 2011capital raising announcement▲ Good
The share purchase plan closed oversubscribed. Final allocations are yet to be confirmed after registry reconciliation; the final amount raised is not stated, and the plan was capped at A$5m.
29 Mar 2011capital raising announcement● Neutral
Share purchase plan opens: eligible shareholders can apply for up to A$15,000 at A$0.32, closing 4 May, capped at A$5m. Same price as the placement; the shares last closed at 49 cents. Proceeds are for five Mississippian horizontal wells, acreage and working capital.