Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 July 2007capital raising announcement▲ Good
MEC Resources, parent of farm-out partner Advent Energy, agreed to invest $1.25m in Central at 20c per share for 6.25m shares, plus options on the entitlement terms. The Advent farm-out is still only an MoU awaiting formal agreement.
5 July 2007capital raising announcement▲ GoodMajor
The underwriter fully placed the expired 20c options: about 39.53m shares raising $7.9m before costs, of which 5.98m options were exercised by holders for $1.19m. Cash was $5.3m at 31 March; this is a further c.$7.6m boost.
What it means for a shareholder
39.5m new shares at about A$0.1998 to raise about A$7.9m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held A$1,000 of shares (5,004 at the issue price), your slice goes from 0.00417% to 0.00313% of the company. To keep it you'd need 1,647 more shares - about A$329 at the issue price.
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2 July 2007capital raising announcement● Neutral
Central is reviewing the 9 July record date for its planned option entitlement issue so it can include shares from the underwritten option conversion. A firm timetable is to follow.
25 June 2007capital raising announcement▲ GoodMajor
Central signed a conditional underwriting agreement with Martin Place Securities guaranteeing exercise of at least 20m of its 39.4m 20c options, raising $4m (up to $7.9m if all convert). This firms up the earlier letter of intent; cash was $5.3m at 31 March.
15 June 2007capital raising announcement▲ GoodMajor
Martin Place Securities intends to underwrite conversion of at least 20m of about 39.5m options at 20c expiring 30 June 2007, up to $7.9m if all convert. A July non-renounceable issue of one 25c option per two shares at 2.5c is planned. Only letters of intent exist.
6 Mar 2006capital raising announcement▲ GoodMajor
Central Petroleum listed on the ASX after an IPO raising over $10.6 million (minimum was $9.5 million), with over 650 shareholders. It plans two initial wells in the Pedirka and Amadeus Basins; a six-well programme depends on further capital or farm-outs.
