Central's rights issue raised $22.7m at 7.5c, with shareholders taking up 59% (178.5m shares). Underwriter Patersons will place the roughly $9.03m shortfall. Central says this funds Phase One and at least three conventional wells in 2010, despite JV disputes.
What it means for a shareholder
179m new shares at about A$0.1272 to raise about A$22.7m. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held A$1,000 of shares (7,863 at the issue price), your slice goes from 0.0013% to 0.001% of the company. To keep it you'd need 2,318 more shares - about A$295 at the issue price.
Central issues 6.25m shares at 8c on conversion of 50 bonds worth $500,000 under the bond facility. It says it keeps the agreement alive because it ends if no subscription or conversion occurs within a 45-day working period. Shares on issue reach about 905m per the Appendix 3B.
Central sends shareholders the rights issue letter: record date 6 April, about 299.6m new shares and 59.9m new options, plus up to 59.9m more options to sub-underwriters. Funds are for wells in EP 82 and EP 115 and 2010 geophysics, with any excess possibly for a Simpson well. Optionholders must convert by 30 March to participate.
Central sends optionholders a letter about the renounceable rights issue. Only a cover note and a sample address page are given, so the letter's content is not shown.
Central lodges the prospectus for its $22.47m underwritten rights issue: one new share per two held at 7.5c, with a free 16c option per five new shares. The price is about 29% below the 30-day average. Offer closes 22 April 2010; about 60m options go to underwriters.
15 Mar 2010capital raising announcement● NeutralMajor
Central launches a fully underwritten renounceable rights issue raising $22.6m: one new share for every two held at 7.5 cents, with a free 16c option per five new shares. Patersons underwrites. Cash would reach about $50m; Ooraminna 2 is due to spud in late April/May.
Rights issue shortfall and $5.0m placement complete, bringing the rights issue to $25.7m before costs. Issued shares rise to about 557m. Placement was 50.2m shares at 10c with 25.1m options.
What it means for a shareholder
50.2m new shares at A$0.100 to raise about A$5.0m. That's 8.9% dilution: every existing holder's slice gets 8.9% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00195% to 0.00177% of the company. To keep it you'd need 977 more shares - about A$98 at the issue price.
The rights issue completes (excluding shortfall): 157.7m new shares and 78.8m options issued for $15.8m. Shortfall of 99.3m shares ($9.9m) and $5.0m placement to follow 22 June. Total shares issued 414.7m.
18 June 2009capital raising announcement▲ GoodMajor
The rights issue succeeded, raising about $25.7m at 10c, plus a roughly $5m placement at the same price and options, for over $30m total. Central says it is fully funded for its share of the 2009-10 programme starting August/September.
Central appoints Patersons Securities as Lead Manager to complete its roughly $25m rights issue, which had been not underwritten. This addresses the open shortfall; no new terms are given.
The 10c rights issue is extended by three weeks: closing moves from 22 May to 12 June 2009, with new shares and options issued 19 June and trading from 22 June. Terms are unchanged. The issue is still not underwritten.
Update to the rights issue: Martin Place Securities will sell rights for foreign holders, and shareholders or sophisticated investors may apply for any shortfall. Drilling of Johnstone, Ooraminna and Magee, with Mt Kitty contingent, could start from August 2009, subject to partner approval.
Central lodges the prospectus for the 1-for-1 rights issue at 10c, up to about $25.7m if fully subscribed. It is not underwritten. Preferred programme when activity resumes: 5 CSG wells, Johnstone, Ooraminna and Magee wells, and about 1,250 km of 2D seismic.
Clarifies how to take part in the 10c rights issue: eligible holders get forms, others can buy rights on ASX from 21 April to 15 May. Option holders must exercise before the record date. Closing date is 22 May 2009; no new terms.
Central announces a 1-for-1 renounceable rights issue at 10c, raising up to $25.7m (257,013,526 shares), with a free $0.16 option (expiring 2014) per two shares taken up. Funds are for exploration with JV partners and acquisition opportunities. Not underwritten.
The 31,090,865 rights issue shares were allotted on 13 June, raising a net $4.66m. Shares on issue are now 252,308,265; MEC Resources is the largest holder at 2.97%.
12 June 2008capital raising announcement● NeutralMajor
The 1-for-5 rights issue closed 6 June with shareholders taking up 78%: 31,090,865 shares at 15 cents, raising $4.67m. The 8,982,070-share shortfall may be placed by directors within three months, so it falls short of the $6.01m maximum.
What it means for a shareholder
31.1m new shares at A$0.150 to raise about A$4.7m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.00262% to 0.00233% of the company. To keep it you'd need 814 more shares - about A$122 at the issue price.
Offer document for the 1-for-5 rights issue at 15 cents. The maximum is 40,075,746 shares raising up to $6.01m, up slightly from the earlier figure. It closes 6 June 2008; funds are for central Australian exploration and/or development.
What it means for a shareholder
40.1m new shares at about A$0.150 to raise about A$6.0m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (6,668 at the issue price), your slice goes from 0.00277% to 0.00238% of the company. To keep it you'd need 1,111 more shares - about A$167 at the issue price.
D.B. Zwirn converted 50 bonds ($500,000) into 3,333,333 shares at 15 cents. Total converted is 250 bonds into 16,666,665 shares, 7.1% of issued capital. Quoted shares now 235,770,946 per the Appendix 3B.
9 May 2008capital raising announcement● NeutralMajor
Letter to shareholders on the 1-for-5 non-renounceable rights issue at 15 cents, announced 6 May, record date 16 May. It raises up to $5.81m (38.7m shares) and is the planned offset to bond dilution; 11.3m shares had been issued to D.B. Zwirn.
Letter to optionholders on the 1-for-5 rights issue at 15 cents. To take part they must exercise options by the 16 May record date. Administrative notice of the existing offer.
A second D.B. Zwirn conversion: 30 bonds worth $300,000 became 2,000,000 shares at 15 cents. Quoted shares rise to 187,031,345. Further dilution under the bond facility.
D.B. Zwirn converted 70 bonds worth $700,000 into 4,666,666 Central shares under the bond facility approved in December 2007. That is the first conversion, at 15 cents a share, adding to the share count.
The option entitlement offer is complete: the underwriter placed the 29.9m-option shortfall, raising a further $748,668. Martin Place also received 5m options as underwriting fees. Total listed 25c options now about 96m.
Central issued 58.0m 25c options (expiry 30 June 2010) in the entitlement offer, a 66% take-up raising $1.45m. Martin Place took a 29.9m-option shortfall, which should add $748,668 for a total of about $2.2m.
24 July 2007capital raising announcement▲ GoodMajor
Central completed the option underwriting and placement, raising $9,007,650 before costs, with a further 39.07m shares allotted and 3m options issued to Martin Place. Prospectuses for the option entitlement offer have been despatched; it closes 17 August.
What it means for a shareholder
39.1m new shares at about A$0.2306 to raise about A$9.0m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (4,337 at the issue price), your slice goes from 0.00263% to 0.00212% of the company. To keep it you'd need 1,026 more shares - about A$237 at the issue price.
Prospectus for the option entitlement offer at 2.5c. The MD's letter says drilling did not start by 30 June 2007 partly because of Blamore and Avalon access problems in EP 93, and the new option replaces the expired one.
Central announced its non-renounceable offer of one option per two shares at 2.5c (25c exercise, expiry 30 June 2010) to holders on 20 July 2007. It is conditionally underwritten by Martin Place and closes 17 August.
9 July 2007capital raising announcement▲ GoodMajor
Central will place about 5.5m extra shares at 20c, raising $1.1m and bringing the total from option conversion and placement to $9.0m before costs. 3m 25c options go to Martin Place as fees. 5.96m shares went to option holders.
