30 Aug 2017other● Neutral
Corporate governance statement as at June 2017. The board has no audit, nomination, risk or remuneration committees, and has not set gender diversity objectives or done formal board evaluations. Administrative.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Aug 2017other● Neutral
Confirms the public offer closed with all securities issued, the Calima acquisition completed, and the Montney farm-in completed after ASX re-compliance. No material events alter the prospectus balance sheet. Repeats the earlier completion news.
30 Aug 2017other● Neutral
Listing application information form for re-admission. It confirms Stein as Managing Director and Taylor as Technical Director from relisting, Whiddon as Executive Chairman, BDO as auditor and Bahen as joint company secretary. Text is truncated; no new transaction terms.
30 Aug 2017other● Neutral
Updated use of funds for the first year after relisting: A$9.07m total (A$6.82m cash plus A$2.25m raised), with A$5.5m for Montney work, A$1.48m corporate costs and A$1.65m working capital. Described as intentions that may change.
29 Aug 2017listing compliance notice● Neutral
ASX notice confirming reinstatement on 31 August as CE1, with 438.6m quoted shares. About 51.8m shares and various performance securities and options are escrowed until 31 August 2019. James Bahen is company secretary.
29 Aug 2017other● Neutral
Post-completion capital structure: 490.4m shares, 20.0m performance shares, 66.2m performance rights and 30m options. This includes 28.5m shares to Havoc, 20.0m to noteholders, 50m raised at 4.5c and 3.3m to Euroz.
29 Aug 2017listing compliance notice▲ GoodMajor
ASX said Calima Energy (previously Azonto, code CE1) would be reinstated to official quotation from the start of trading on Thursday 31 August 2017, following its re-compliance with Chapters 1 and 2 of the Listing Rules.
29 Aug 2017farm in farm out completion▲ GoodMajor
The Calima acquisition and the Montney farm-in have both completed, and all prospectus securities were issued. Re-compliance with ASX listing rules is satisfied. Azonto's re-entry into oil and gas, announced on 1 May, is now done.
21 Aug 2017capital raising announcement▲ Good
Calima received A$2.25m under the public offer, and the name change to Calima Energy took effect after shareholders overwhelmingly backed all resolutions. Stein and Taylor will join the board on completion while Downey resigns, with relisting targeted on or before 28 August.
24 July 2017capital raising announcement● Neutral
Azonto extended the prospectus closing date from 27 July to 17 August 2017. Completion of the acquisition was now expected on 21 August and reinstatement to trading on about 25 August.
21 July 2017listing compliance notice● Neutral
ASX suspended Azonto's shares from 21 July 2017 after shareholders approved the change in the nature and scale of activities. Suspension lasts until the company re-complies with listing rules Chapters 1 and 2.
18 July 2017security holder rights change● Neutral
Notice of the 1-for-3 share consolidation, subject to the 20 July shareholder meeting: about 1,165.8m shares become about 388.6m, and 140.3m performance rights become about 46.8m. Shares will be suspended from the meeting date until re-compliance.
30 June 2017capital raising announcement● NeutralMajor
Prospectus lodged for 50m shares at 4.5c (A$2.25m, up to A$4.5m with oversubscriptions). It also offers Havoc 28.5m shares and 20.0m performance shares for Calima, 20.0m shares to Calima noteholders, 20m management options and 3.3m shares to Euroz. Text is truncated.
15 June 2017regulatory community update▲ Good
ASX granted waivers letting Azonto issue shares and options below the usual 20c minimum, so the 4.5c raising can proceed. Conditions include shareholder approval and the 1-for-3 consolidation. This clears a hurdle for the Calima re-compliance.
6 June 2017capital raising announcement▲ GoodMajor
Firm commitments received for the A$2.25m minimum raise at 4.5c per share post-consolidation (50m shares), led by a Clarion Finance-associated entity with 67%. Funds Stage 1 of the Montney farm-in. Investors also get 10m options; 6% fee applies. Relisting targeted for August.
15 May 2017investor presentation● Neutral
Technical appendices to the Calima presentation on the Montney acreage (about 55,000 acres in British Columbia). It repeats the planned prospectus offer at 1.5c per share (4.5c post-consolidation) and the Montney farm-in terms announced 1 May.
15 May 2017investor presentation● Neutral
Investor presentation for the planned rename to Calima Energy, presenting the Havoc Partners management team behind the Montney farm-in and Calima acquisition. It repeats the prospectus offer at 1.5c per share (4.5c post-consolidation) and adds no new terms.
1 May 2017farm in farm out agreement▲ GoodMajor
Azonto re-enters oil and gas. It will farm into Canada's Montney Project to earn up to 55% by spending C$25m over three stages, and buy Calima Energy from Havoc. It plans to raise A$2.25-4.5m, consolidate shares 1-for-3, rename and reconstitute the board. Re-compliance with listing rules is required.
19 Apr 2017annual report● Neutral
Re-release of the 2016 annual report with the same content as the 31 March version: net loss A$1.27m, no new venture and Abidjan equipment still held. No new information.
31 Mar 2017annual report● Neutral
Year to 31 December 2016: net loss A$1.27m versus A$27.2m in 2015, which carried the Vioco impairment. Revenue was A$103k. Clipfort termination and Abidjan equipment (about US$1.0m original cost) are restated, with no new venture. Auditor is now BDO.
6 Dec 2016listing compliance notice● Neutral
ASX suspends Azonto's shares immediately under listing rule 17.3. The text gives no reason, but it follows the price and volume query the same day.
6 Dec 2016listing compliance notice● Neutral
ASX notice that the suspension of Azonto's shares will be lifted immediately after the company releases an announcement. Administrative.
6 Dec 2016price query● Neutral
Responding to an ASX query on the price rising from 0.8c to an intraday 1.2c on heavy volume, Azonto says it knows of no unannounced information that could explain the trading, and says it complies with the listing rules.
15 June 2016material agreement termination▼ BadMajor
Azonto says the Clipfort acquisition will not complete and the April 2016 term sheet is terminated. It could not complete due diligence or other transaction matters to its satisfaction. The company is again without a new venture.
2 May 2016investor presentation● Neutral
Overview presentation of GoSafe, the fingerprint-activated gun magazine, for the Clipfort deal announced 18 April 2016. It describes the product and US market. The text shown is truncated and gives no new deal terms.
29 Apr 2016security holder rights change● Neutral
Subject to shareholder approval, Azonto will cancel 140,319,489 performance rights held by a director, former directors and managers. It will issue 18,043,362 shares and pay A$221,475 cash (4 rights for 1 share or A$0.013), avoiding anti-dilution adjustments to Clipfort's consideration.
18 Apr 2016price query● Neutral
Replying to an ASX query on a 55% price rise (0.9c to 1.4c), Azonto confirms it held undisclosed information about a potential acquisition under the listing rule 3.1A exception. It sought a trading halt, then a suspension, until terms were agreed.
18 Apr 2016listing compliance notice● Neutral
ASX notice that the suspension of Azonto's shares will be lifted immediately after the acquisition announcement is released. Administrative.
18 Apr 2016business combination● NeutralMajor
Azonto signs a binding term sheet to acquire Clipfort, owner of intellectual property for the GoSafe ID Mag, a fingerprint-activated gun magazine. This is a move away from oil and gas, ending the search for a new venture. Full terms are truncated in the text.
7 Apr 2016listing compliance notice● NeutralMajor
At its own request, Azonto's shares are suspended after a trading halt, pending an announcement about due diligence on a potential acquisition. Lifting of the suspension is expected before market open on 18 April 2016.