Past year: ▼ 90%(0.80c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
28 Apr 2017quarterly activities report● Neutral
March 2017 quarter: cash and investments A$6.0m. The company reports advanced discussions on a potential transaction and a A$325k investment loan during the quarter. Abidjan equipment is still unsold.
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.
31 Jan 2017quarterly activities report● Neutral
December 2016 quarter: cash A$6.4m, helped by a A$331k currency gain. 3,420,025 shares were issued to settle a A$27,280 creditor. Abidjan equipment sales, including a scrap sale, were completed, and new-venture due diligence continues.
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.
31 Oct 2016quarterly activities report● Neutral
September 2016 quarter: cash A$6.2m; UK wind-up and tax deregistration largely concluded. A Foxtrot agreement on 12 October 2016 sells equipment that cost US$37,662 for US$11,662. Other Abidjan equipment is under negotiation, and new-venture due diligence continues.
29 July 2016quarterly activities report● Neutral
June 2016 quarter: cash A$6.6m (A$6.9m in March), with about A$390k of Clipfort costs written off. The CFO was retrenched, the UK subsidiary is nearly liquidated, and about US$1.1m of Abidjan equipment is unsold. The company is still seeking new opportunities.
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.
29 Apr 2016quarterly activities report● Neutral
March 2016 quarter: cash A$6.9m. Clipfort term sheet is subject to conditions, with US$1.9m of loans advanced in stages. Consideration is shares plus performance shares priced between 1.5c and 2c, and a raising of at least 2c per share is planned.
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.
10 Mar 2016annual report▼ Bad
Year to 31 December 2015: net loss A$27.2m, driven by the A$31.1m Vioco impairment, versus a A$19.6m loss in 2014. Ghana subsidiary liquidation was completed in February 2016; the company still seeks a new venture. Whiddon is now listed as Executive Chairman.
29 Jan 2016quarterly activities report● Neutral
December 2015 quarter: restates the London wind-down and subsidiary liquidations, with Abidjan equipment still unsold. Cash was A$7.6m at 31 December (a prior A$7.9m figure reflected exchange rates). No new venture yet; ASX may suspend if none is announced within 6 months of the sale.
14 Jan 2016other● Neutral
Company update on tidying up West African legacy matters: Ghana and UK subsidiary liquidations, UK tax deregistration and the 2015 audit are under way. Cash is about A$7.9m; residual Abidjan equipment is unsold and a new direction is still being sought.
2 Dec 2015other● Neutral
London office lease assignment (effective 1 November 2015) and sale of office equipment are complete, removing a lease obligation. Residual Abidjan equipment is still being sold, cash is about A$8m, and the company says it is ready to pursue new ventures.
12 Nov 2015price query● Neutral
Responding to an ASX query on the share price rising from 0.6c to 1c, Azonto says it knows of no undisclosed news. The Chairman visited Israel researching investment opportunities, but no specific opportunity or transaction has been identified.
30 Oct 2015quarterly activities report● Neutral
September 2015 quarter: Vioco and equipment sales are complete and cash was A$7.1m at 30 September (A$8.0m by 26 October). London office is closing, one full-time staff remain, and directors are seeking new ventures, possibly outside resources, within about 6 months.
16 Oct 2015asset acquisition disposition▲ Good
Sale of the Côte d'Ivoire wellhead equipment to Vitol completed, with the full US$1.1m paid without deduction. This closes the equipment leg of the Vioco sale; a further US$2.0m remains payable only if a hydrocarbon discovery occurs by 30 June 2018.
18 Sept 2015director officer appointment● NeutralMajor
Stoupnitzky and Sinclair resign from the board on 17 September 2015, as foreshadowed after the Côte d'Ivoire sale. Rob Downey, a resources solicitor, joins as non-executive director, and Glenn Whiddon becomes Non-Executive Chairman.
10 Sept 2015half year report▼ Bad
Half-year to 30 June 2015: net loss of A$35.3m, mainly a A$31.1m impairment of the Vioco stake after the sale to Vitol. Restates the cost cuts and planned September board departures.
