Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
12 Sept 2017half year report● Neutral
Half-year report to 30 June 2017 for the former Azonto: net loss A$1.27m (2016: A$1.18m). It restates the Montney farm-in and Calima acquisition completed 29 August. Directors list Whiddon as Executive Chairman, with Hackett remaining a non-executive director.
7 Sept 2017drilling scheduled▲ Good
Calima licensed 60 km2 of 3D seismic and bought well data on its 51,455-acre Montney lands, and began planning three horizontal wells for drilling in 2018. It aims to lift acreage to 65-70,000 acres by year-end. This advances the farm-in work program.
7 Sept 2017director officer appointment● Neutral
Registered office changed to 1A/1 Alvan Street, Subiaco, and James Bahen appointed joint company secretary. Administrative; Bahen was already named in earlier notices.
31 Aug 2017investor presentation● Neutral
Post-relisting presentation on the Montney play. Shows 490.5m shares, A$16.2m market cap, A$7.5m cash and securities with no debt, A$8.7m enterprise value, and 22% board and management ownership. Repeats known facts.
31 Aug 2017other▲ GoodMajor
Calima begins trading on ASX as CE1 with the Montney farm-in complete. It operates and can earn up to 55% (an effective 57% with its 11.2% of TMK Montney). Management cites A$7.5m cash and securities, no debt, and the Havoc team joining.
30 Aug 2017other● Neutral
Securities trading policy setting blackout periods and clearance rules for directors and staff dealing in company shares. Administrative; no substantive news.
30 Aug 2017listing compliance notice● Neutral
ASX lists the documents released ahead of the 31 August reinstatement, such as the prospectus, top 20 holders and Calima's audited accounts. Administrative; no new facts.
30 Aug 2017other● Neutral
Company constitution released as a pre-reinstatement document. Standard administrative content; no substantive news in the text provided.
30 Aug 2017other● Neutral
Top 20 holders at 25 August 2017 own 54.8% of ordinary shares. The largest are HSBC Custody Nominees (7.58%) and Pacific World Energy (6.83%); incoming MD Alan Stein holds 4.57% directly.
30 Aug 2017other● Neutral
Computershare confirms holding locks on restricted securities for 24 months from quotation, including 51.8m shares, performance shares, 30m options and 19.45m performance rights. Administrative; matches the earlier escrow notice.
30 Aug 2017other● Neutral
Re-release of the 30 June 2017 prospectus, with the same offers: 50m shares at 4.5c and the vendor, noteholder, management option and Euroz offers. No new information in the text provided.
30 Aug 2017other● Neutral
Rules of the Calima Performance Rights Plan, covering how performance rights are offered, vest and lapse. Standard administrative document; no new grants or figures in the text provided.
30 Aug 2017other● Neutral
Unaudited pro-forma balance sheet at 31 Dec 2016 combining Azonto and Calima after the offer. Pro-forma total assets are about A$10.2m, liabilities about A$0.28m, and net assets about A$9.9m. Text is garbled; no new transactions.
30 Aug 2017annual report● Neutral
Audited accounts of acquired Calima Energy Ltd (Jersey) for the period to 31 Dec 2016: an inactive holder of Western Sahara licence interests. After year-end, in April 2017 it raised $400,015 by convertible note and bought about 11% of TMK Montney and 10% of Bahari.
30 Aug 2017other● Neutral
Shareholder distribution at 25 August 2017: 1,566 holders of 490.4m units. The 292 holders with over 100,000 units own 95.1%. Administrative.
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.
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.
31 July 2017quarterly activities report● Neutral
June 2017 quarter: cash and investments A$4.9m after a A$400k unrealised FX loss, and the C$500k Montney deposit was paid. The 1-for-3 consolidation is done, 388.6m shares are on issue, and completion and relisting as CE1 are expected in 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.
