Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Dec 2024listing compliance notice● NeutralMajor
ASX announced that Calima would be removed from the Official List at the close of trading on 18 December 2024. The removal was at Calima's request under Listing Rule 17.11, after security holders resolved to delist.
21 Oct 2024asset acquisition disposition● NeutralMajor
Calima confirmed that the sale of Calima Energy Inc had settled, in line with the announcement of 10 September 2024. The release gave no further terms.
18 Oct 2024other● Neutral
ASX's generic list of entities suspended over three months includes Calima (CE1), with a two-year deadline of 2 July 2026 to resume trading. No Calima-specific news; the company was already moving to delist.
14 Oct 2024agm notice● NeutralMajor
All three resolutions at the 14 October general meeting carried: the equal access buyback, the sale of the main undertaking (Calima Inc), and removal from the ASX. Delisting passed with about 94% of votes cast in favour, clearing the way to leave the exchange.
16 Sept 2024half year report● Neutral
Half-year report to 30 June 2024 shows continuing-operations net income of A$441,914 and discontinued income of A$11.0m, reflecting the Blackspur sale (about A$81.1m net cash) and the A$80m return. It also records the 14.4m-share unmarketable buyback and the Calima Inc sale.
13 Sept 2024listing compliance notice▼ BadMajor
Calima applies to leave the ASX, citing no prospects of re-complying with Chapters 1 and 2 after the 2 July suspension, no liquidity, and about A$200k a year in listing costs. Needs a special resolution; shares would then be off-market only.
10 Sept 2024asset acquisition disposition● NeutralMajor
Calima agrees to sell 100% of Calima Energy Inc, owner of the Paradise field, to Aldon Oils for about A$1.3m (C$1.2m), subject to shareholder approval and completion by 31 October 2024. This exits Canada; the meeting will also seek delisting.
3 July 2024regulatory community update▲ Good
The ATO issues its class ruling confirming the 21 June distribution as a 12.63c per share capital return. This resolves the open tax-ruling question on the return.
2 July 2024listing compliance notice▼ BadMajor
ASX suspends Calima from the close of 2 July 2024, saying its operations are not adequate to warrant quotation under Listing Rule 12.1. Suspension lasts until ASX is satisfied. This is the outcome flagged since the Blackspur sale.
2 July 2024listing compliance notice● Neutral
Reminder that today, 2 July 2024, is the last day of trading before suspension. Repeats the earlier notice with no new information.
28 June 2024director officer appointment● Neutral
Non-executive director Lonny Tetley resigns, after joining with the Blackspur business about three years ago. Calima ties it to the sale of most of its Canadian activities.
28 June 2024listing compliance notice▼ Bad
Calima confirms its shares will be suspended at close of trading on 2 July 2024. They will likely stay suspended until it re-complies with Chapters 1 and 2 of the Listing Rules.
21 June 2024capital raising announcement▲ GoodMajor
The A$80m return of capital is paid on 21 June, at 12.63c per share (slightly below the 12.64c planned). The ATO class ruling is expected on or after 3 July. Suspension from 2 July still expected.
13 June 2024price query● Neutral
Calima tells ASX it has no undisclosed news. It attributes the jump from 0.36c to 0.9c to shares trading ex the A$80m distribution, at roughly A$3-5m market value, in line with its A$5-6m net cash.
13 June 2024other● Neutral
ASX pauses trading in Calima shares pending an announcement, with no reason given. It follows a price query the same day.
7 June 2024capital raising announcement● Neutral
Calima brought forward the timetable for the A$80m (12.64c per share) return of capital. The record date moved from 19 June to 14 June and payment from 26 June to 21 June 2024, with the amount unchanged.
7 June 2024security holder rights change● Neutral
Formal notice of the 12.64c return, paid 21 June. Option exercise prices and performance hurdles fall by the same amount, to 5.74c or 1.74c for options and 15.74c for Class C rights. Part 4 oddly says no option price effect, which contradicts this.
6 June 2024capital raising announcement▲ GoodMajor
Calima confirms the A$80m (12.64c per share) return of capital will be paid in one payment on 19 June 2024. The tax ruling is now expected after payment rather than before it, and ASX suspension is still likely on 2 July.
2 Apr 2024other● Neutral
Appendix 4G corporate governance checklist lodged with the annual report; points to the governance statement on the website. Administrative, no new information.
2 Apr 2024listing compliance notice▲ Good
ASX lifts the suspension from 3 April 2024 after receiving the 31 December 2023 financial statements. This resolves the late-filing suspension.
2 Apr 2024listing compliance notice▼ Bad
ASX suspends Calima from 2 April 2024 for not lodging its annual report by the due date. It is a compliance lapse, reversible once the report is filed.
2 Apr 2024annual report● Neutral
2023 annual report: sales averaged 4,046 boe/d, adjusted EBITDA A$33.6m, and a net loss of A$41.4m. Following the Montney and Blackspur sales, Calima plans to return a further A$80m (12.6c per share) and keep about A$5-6m cash plus Paradise.
25 Mar 2024other● Neutral
Calima lodges a cleansing prospectus for up to 1,000 shares at A$0.12 (A$120 total) to remove trading restrictions on previously issued shares. No real funds raised; administrative.
22 Mar 2024security holder rights change● Neutral
Following the A$7.5m October 2023 and A$2.5m September 2022 capital returns, totalling 1.62c per share, option exercise prices and the Class C performance rights hurdle are cut by the same amount. Options now exercise at 18.38c or 14.38c.
27 Feb 2024asset acquisition disposition▲ GoodMajor
The Blackspur sale to Astara has completed, with A$81.6m banked after Canadian tax provisions and net debt adjustments. Calima plans a single A$80m (about 12.6c per share) return, subject to an ATO ruling and shareholder vote. It keeps Paradise and about A$5-6m cash; ASX may suspend it from 2 July 2024.
5 Jan 2024listing compliance notice● Neutral
ASX notice that the suspension will lift once Calima releases its Blackspur sale announcement. Administrative.
5 Jan 2024asset acquisition disposition▲ GoodMajor
Calima agrees to sell 100% of Blackspur Oil (Brooks and Thorsby) to Astara Energy for C$75m (A$83.3m), before net debt adjustments. It intends to return at least 85% of proceeds to shareholders. Needs shareholder approval (15 Feb meeting) and Canadian competition clearance; the company keeps the Paradise well in BC.
2 Jan 2024listing compliance notice● NeutralMajor
At Calima's request, ASX suspends the shares pending an announcement on the sale of the Blackspur assets (Brooks and Thorsby). Suspension is to last until the announcement or 5 January 2024 trading open.
28 Dec 2023other● Neutral
ASX pauses trading in Calima shares pending a further announcement, with no reason given in the notice. Given the recent unsolicited asset-sale offers, an announcement on that front is possible (inference).
21 Nov 2023remuneration report● Neutral
Calima issues 11.68m Class G performance rights to staff and directors, with 4.45m needing shareholder approval. It cites three unsolicited offers for Brooks and Thorsby assets creating uncertainty. Rights vest immediately on a change of control or a sale above A$80m.
