Past year: ▼ 39%(5.00c – 12.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2024capital raising announcement● Neutral
Byron completed a buy-back of small shareholdings at A$0.103 a share, repurchasing 2,609,623 shares from 1,775 holders for about A$269,000. Shareholder numbers fall to about 3,020, cutting administration costs.
17 June 2020capital raising announcement▲ GoodMajor
The share purchase plan raised about A$13.8m at A$0.13 after a 20% scale-back, against a A$4m target and A$17.3m of applications. With the placement, A$27.6m is raised, so G2 can be drilled straight after G1. A$2.2m director placement awaits approval.
26 May 2020capital raising announcement● Neutral
Offer document for the share purchase plan: eligible Australian and New Zealand holders can buy up to A$30,000 of shares at A$0.13, aiming to raise up to A$4m. The offer closes 12 June 2020. This follows the 19 May placement.
19 May 2020capital raising announcement● NeutralMajor
Byron raises A$16m via a placement of 123.1m shares at A$0.13, plus an A$4m share purchase plan and up to US$3.5m more from Crimson. Funds complete the SM58 G platform, now due for installation in early June. Directors' loans are extended a year to 31 March 2022.
What it means for a shareholder
123m new shares at A$0.130 to raise about A$16.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (7,692 at the issue price), your slice goes from 0.000962% to 0.000834% of the company. To keep it you'd need 1,185 more shares - about A$154 at the issue price.
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12 Dec 2019capital raising announcement▲ GoodMajor
The entitlement offer closed with applications for A$9.9m; the underwriter takes 5.32m shares for the balance. Total 42.08m new shares at A$0.27 raise about A$11.36m, completing the funding alongside the A$14.0m placement. Allotment expected 18 December.
What it means for a shareholder
42.1m new shares at A$0.270 to raise about A$11.4m. That's 5.3% dilution: every existing holder's slice gets 5.3% smaller. If you held A$1,000 of shares (3,704 at the issue price), your slice goes from 0.000489% to 0.000463% of the company. To keep it you'd need 206 more shares - about A$56 at the issue price.
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21 Nov 2019capital raising announcement● Neutral
Notice that shareholders outside eligible countries cannot take part in the entitlement offer. Their shares go to the shortfall pool. Administrative notice with no new terms.
21 Nov 2019capital raising announcement● Neutral
Shareholder letter summarising the entitlement offer: 42,074,138 new shares at A$0.27, 1-for-18, record date 25 November, closing 11 December, allotment 18 December. Repeats the use of funds: A$18.9m to SM71/SM58 and about A$5.5m director loan repayment.
20 Nov 2019capital raising announcement● Neutral
Offer booklet for the 1-for-18 entitlement offer at A$0.27 to raise about A$11.4m, fully underwritten by Bell Potter. Opens 28 November, closes 11 December 2019. Terms repeat the 15 November raising announcement.
20 Nov 2019capital raising announcement● Neutral
Letter telling option holders they have no right in the entitlement offer unless they exercise options and are on the register by 25 November. Proceeds: A$18.9m to SM71 and SM58, about A$5.5m to repay director loans, A$1.5m costs.
15 Nov 2019capital raising announcement● NeutralMajor
Byron raises about A$25.9m at A$0.27 a share: a A$14.5m placement and a fully underwritten 1-for-18 entitlement offer of about A$11.4m, a 14.3% discount to the last close. Funds go to SM58 development and SM71 drilling, alongside the Crimson loan. Directors are in for 2m placement shares, pending approval.
26 Sept 2017capital raising announcement▲ Good
The Share Purchase Plan closed with applications of just over A$2.6m against the A$2m target, so applications will be scaled back by about 24%. Shares at A$0.07 are due about 28 September. This completes the funding round launched in August.
21 Aug 2017capital raising announcement● Neutral
The booklet and application form for the A$2m Share Purchase Plan at A$0.07 per share, with parcels from A$2,000 to A$15,000. This is documentation for the plan already announced and carries no new substance.
21 Aug 2017capital raising announcement● Neutral
Byron opened a Share Purchase Plan raising up to A$2.0m. Eligible Australian and New Zealand holders can buy up to A$15,000 at A$0.07, the same as the placement price. It closes 22 September, with shares issued 28 September.
17 Aug 2017capital raising announcement● Neutral
Fitzroy River Corporation is investing a further A$1m at A$0.07 in the Byron placement, on top of its A$0.5m in August 2016. It will hold about 18.131m shares (about 2.76%) once shareholders approve. Adds no new Byron information.
14 Aug 2017capital raising announcement▲ Good
Metgasco took up its 10% priority right, subscribing A$2,652,790 for 37,897,000 Byron shares at A$0.07, giving it a 5.77% stake. It also gained an option to farm into one of Byron's new Gulf of Mexico blocks. Note amortisation is stated to start next quarter.
14 Aug 2017capital raising announcement▲ GoodMajor
Byron raised A$26.5m through a placement of 378,970,262 shares at A$0.07, subject to shareholder approval at an EGM around 18 September. Directors invest A$3.6m. Funds go mainly to SM 71 development, including the #2 well, and convertible note repayment. This closes the open funding thread.
11 Aug 2016capital raising announcement● NeutralMajor
Byron raised A$5.5m via a placement of 42.4m shares at A$0.13, an 11.82% discount to the 5-day VWAP. A$0.7m from directors needs shareholder approval. Proceeds will repay A$750,000 of director loans, alongside the pending Metgasco note.
25 Feb 2016capital raising announcement● NeutralMajor
The Share Purchase Plan raised only A$285,550 from 1,870,344 shares at A$0.15, well short of the A$2.5m maximum. With the placement, total raised is A$4.8m before costs, and the loan conversion removes the 1 July 2016 repayments.
10 Feb 2016capital raising announcement● Neutral
SPP closing date extended a further week to 19 February 2016, with shares to be issued 25 February. Administrative change only.
25 Jan 2016capital raising announcement● Neutral
SPP closing date extended from 29 January to 12 February 2016, giving eligible holders more time at A$0.15. Administrative change only.
12 Jan 2016capital raising announcement● Neutral
SPP offer booklet and terms for the A$0.15 offer, up to A$15,000 per holder, A$2.5m maximum. It repeats the terms in the SPP announcement, with no new substance.
12 Jan 2016capital raising announcement● Neutral
Byron opened the Share Purchase Plan foreshadowed on 30 December: eligible Australian/NZ holders can buy up to A$15,000 at A$0.15, raising up to A$2.5m. It closes 29 January 2016. Drilling is proposed for February 2016.
30 Dec 2015capital raising announcement● NeutralMajor
Byron raised A$4.5m via a placement of 29.9m shares at A$0.15, an 18.65% discount to the 5-day VWAP, to fund the Q1 2016 wells. A$2.5m SPP planned. Directors' loans (A$700k, US$612.5k) to convert to shares, subject to approval.
What it means for a shareholder
29.9m new shares at A$0.150 to raise about A$4.5m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.00346% to 0.00299% of the company. To keep it you'd need 1,033 more shares - about A$155 at the issue price.
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7 May 2015capital raising announcement● NeutralMajor
Byron raises A$11.0m through a placement of 44m shares at A$0.25, a 21.9% discount to the last close, in two tranches (the second needs shareholder approval). A planned share purchase plan of up to A$3.0m at the same price follows. Funds drilling and permitting plans.
What it means for a shareholder
44.0m new shares at A$0.250 to raise about A$11.0m. That's 26% dilution: every existing holder's slice gets 26% smaller. If you held A$1,000 of shares (4,000 at the issue price), your slice goes from 0.0032% to 0.00237% of the company. To keep it you'd need 1,409 more shares - about A$352 at the issue price.
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15 Dec 2014capital raising announcement● NeutralMajor
Byron raises about A$2.27m by placing 4,541,095 shares at A$0.50 to sophisticated investors, below the A$0.65 of the 2014 placements. Funds working capital; Byron says it is pursuing strategic approaches for capital to drill a second SM 6 well.
What it means for a shareholder
4.5m new shares at A$0.500 to raise about A$2.3m. That's 3.5% dilution: every existing holder's slice gets 3.5% smaller. If you held A$1,000 of shares (2,000 at the issue price), your slice goes from 0.0016% to 0.00154% of the company. To keep it you'd need 73 more shares - about A$37 at the issue price.
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3 July 2014capital raising announcement▼ BadMajor
BP01's pipe could not be freed, so Byron will sidetrack again as BP02. It raises A$1.87m at A$0.65 (2,876,923 shares) and plans an up to US$3.3m unsecured director-participating loan at 10%, repayable by 1 July 2015, on top of the A$2.0m convertible loan.
20 June 2014capital raising announcement▼ BadMajor
Byron raises A$6.5m via a placement of 10,070,847 shares at A$0.65 (about 7.9% of shares), after SM6 #1's drill pipe stuck at 7,738 feet, about 600 feet above the G20 target. Funds a sidetrack. Directors also lend A$2.0m, convertible at A$0.65.
22 May 2013capital raising announcement▲ GoodMajor
The entitlement offer closed fully subscribed on 17 May, raising $6.23m from 15,577,374 shares at $0.40, each with 0.4 unlisted options at $0.50 expiring 31 December 2016. Meets the minimum condition for the Byron deal.
What it means for a shareholder
15.6m new shares at A$0.400 to raise about A$6.2m. That's 24% dilution: every existing holder's slice gets 24% smaller. If you held A$1,000 of shares (2,500 at the issue price), your slice goes from 0.00506% to 0.00385% of the company. To keep it you'd need 788 more shares - about A$315 at the issue price.
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2 Apr 2013capital raising announcement● Neutral
Replacement prospectus dated 2 April 2013 for the Byron acquisition and raising. The visible text matches the original; no changes to terms can be seen in the extract.
19 Mar 2013capital raising announcement● Neutral
Shareholder letter explains the 2-for-1 entitlement offer at $0.40, needing at least $5.0m and holder approval at the 22 April meeting. Funds target a $9.1m one-well program. Completion would give about 123m shares and 36.6m options.
