Past year: ▲ 1131%(11.5c – 2.07 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 July 2019other● Neutral
ASX information form and checklist for re-admission, listing corporate details. Main activity is now minerals exploration in Argentina and Ecuador; Knauer, Quinn and Funston are proposed directors. Administrative, with no new substance.
2 July 2019other● Neutral
Securities trading policy lodged with the re-listing documents. Bars insiders from trading on unpublished price-sensitive information and during closed periods around results. Standard governance document with no operational or financial substance.
2 July 2019annual report● Neutral
Annual report for the year to 30 June 2018, filed under the old name Challenger Energy. Lists the former board (Fry, Willes, Carey) and secretary Lees, who are replaced at the AEP acquisition. Financial figures are truncated.
2 July 2019half year report● Neutral
Half-year report to 31 December 2018, re-lodged with the re-listing documents. Repeats the 22 February 2019 AEP deal, planned $5.0m raise at 3c, 1-for-5 consolidation and new directors. Nothing new beyond the earlier release.
2 July 2019other● Neutral
Appendix 1A listing application form, seeking quotation of 465,560,126 ordinary shares. Standard ASX paperwork supporting re-admission, with no new substance.
2 July 2019other● Neutral
Mining-entity annexure to the listing checklist. States the Hualilan and El Guayabo estimates are not JORC-compliant and refers to the prospectus. Administrative compliance form.
2 July 2019other● Neutral
Incentive Option Plan, approved by the board on 15 May 2019, lodged as part of re-listing paperwork. Sets rules for offering options to participants; no grants or figures visible. Administrative.
31 May 2019capital raising announcement▲ GoodMajor
The prospectus closed over-subscribed, raising its $5.0m maximum via 166,666,667 shares at 3c. The company has applied to ASX for reinstatement of its shares, suspended since August 2018. Completes the raise announced in the prospectus.
What it means for a shareholder
167m new shares at A$0.030 to raise about A$5.0m. That's 30% dilution: every existing holder's slice gets 30% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00856% to 0.00599% of the company. To keep it you'd need 14,265 more shares - about A$428 at the issue price.
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16 May 2019capital raising announcement● NeutralMajor
Re-compliance prospectus offers 166,666,667 shares at 3c to raise $5.0m, plus 180m shares, 78.4m options and 120m performance shares to AEP vendors. Also 10m shares to lenders and 6m to lead managers. Conditional on completion; company renamed Challenger Exploration. Advances the AEP deal.
What it means for a shareholder
167m new shares at A$0.030 to raise about A$5.0m. That's 30% dilution: every existing holder's slice gets 30% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00856% to 0.00599% of the company. To keep it you'd need 14,265 more shares - about A$428 at the issue price.
Create a free account to see this worked out for your own holding.
16 May 2019other● Neutral
Re-release of the same 15 May prospectus in designed format: $5.0m raise at 3c, and Hualilan highlights (150+ drill holes, 6km underground workings, mineralisation over 5km of strike). No new terms visible.
23 Apr 2019quarterly activities report● Neutral
March 2019 quarter: recaps the 22 February deal to acquire AEP (75% of Hualilan, Argentina; 100% of El Guayabo, Ecuador) and the proposed $5.0m raise for ASX re-compliance. South African shale application continues; new petroleum bill still being drafted. Nothing new beyond known facts.
1 Apr 2019security holder rights change● Neutral
Notice of the 1-for-5 share consolidation, subject to the 29 April 2019 meeting: 389,466,818 shares become 77,893,364, effective 1 May. Options go to 6,950,000 with exercise price rising from 5c to 25c. Step towards the AEP deal and re-compliance.
12 Mar 2019half year report● Neutral
Half-year report to 31 December 2018. Visible text recaps the bill withdrawal and the 22 February 2019 AEP deal, with 1-for-5 consolidation and $5m raise at 3c planned. AEP has advanced $200,000 and agreed up to $300,000 more. Financial figures are truncated.
25 Feb 2019business combination▲ GoodMajor
Challenger signs a binding conditional deal to buy AEP Corporation, which can earn 75% of Hualilan (Argentina) and 100% of El Guayabo (Ecuador). Payment is 180m shares, 78.4m options and 120m performance shares (post 1-for-5 consolidation), plus a $5m raise at 3c. Resolves the suspension thread; this is a strategy shift from South Africa, which it will still pursue. New board: Knauer, Quinn, Funston.
31 Jan 2019quarterly activities report● Neutral
December 2018 quarter: shares remain suspended and the company continues to liaise with ASX. A further $50,000 was drawn under an unsecured convertible facility tied to the proposed transaction. The new petroleum bill is still being drafted; the minister said he would amend the moratorium.
24 Oct 2018quarterly activities report● NeutralMajor
September 2018 quarter: the minister withdrew the long-delayed mining law amendment bill on 20 September; a new petroleum-specific bill is being drafted. Shares remain suspended since 7 August. Rights issue stays on hold. No exploration right granted.
28 Sept 2018annual report● Neutral
Annual report for the year to 30 June 2018. Visible text covers only the corporate directory and directors, showing Carey replacing Bloking in June 2018 and Lees replacing Wing as secretary. Financial figures are truncated and not visible.
28 Sept 2018admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the 2018 annual report. It carries no operational or financial substance.
27 Sept 2018director officer appointment● Neutral
Robert Lees becomes Company Secretary, replacing Adrien Wing, who resigned. The registered office moves from Melbourne to Sydney (17 Castlereagh Street). Administrative change only.
7 Aug 2018listing compliance notice▼ BadMajor
ASX suspended Challenger's shares immediately after an announcement of a transaction that could change its activities. They stay suspended until it meets listing rule Chapters 1 and 2 or satisfies ASX otherwise. This follows the earlier Listing Rule 12.1 query.
31 July 2018quarterly activities report● Neutral
June 2018 quarter: the rights issue is on hold while the company pursues other opportunities. Carey has joined the board. Procedural issues with the final bill draft are under consideration; a ministerial notice invited public comment on pending shale applications including Bundu's. No right granted.
13 June 2018capital raising announcement● NeutralMajor
Challenger plans a 1-for-4 non-renounceable rights issue at 1 cent to raise about $973,000, with major holders backing about $500,000. Clinton Carey replaces Bill Bloking as director, and accrued director fees are to be settled. The company reports the Select Committee has finished voting on the bill amendments.
30 May 2018listing compliance notice▼ BadMajor
ASX has questioned whether Challenger's assets and operations justify continued quotation under Listing Rule 12.1. It has until 30 November 2018 to show compliance or face possible suspension. The company says it is reviewing proposals, none yet needing disclosure.
30 Apr 2018quarterly activities report● Neutral
March 2018 quarter: Ramaphosa's election and Mantashe's appointment as Minerals Minister are recapped. The Select Committee began voting on bill amendments in February; special sittings were called, the first on 24 April. No exploration right granted; cost control and search for other projects continue.
14 Mar 2018half year report● Neutral
Half-year report to 31 December 2017. Visible text recaps political changes: Ramaphosa became President in February 2018 and Gwede Mantashe replaced Zwane as Minerals Minister. Parliament indicated the bill could be finalised in the first quarter of 2018. Financial figures truncated.
25 Jan 2018quarterly activities report● Neutral
December 2017 quarter: eight of nine provinces sent their proposed bill amendments; the committee resumes 18 February 2018, with a vote hoped for by end March. Ramaphosa became ANC leader. The company says it has assessed many potential new projects and is pursuing several.
18 Jan 2018other● Neutral
Corporate governance statement for the year to 30 June 2017, current at 18 January 2018. It shows mostly compliance with ASX recommendations, partial on diversity. No operational or financial substance.
20 Oct 2017quarterly activities report▼ Bad
September 2017 quarter: the bill's schedule slipped, with provincial mandates due end November and a vote still hoped for by December. On 18 October a court set aside the 2015 petroleum technical regulations, which may delay licences. No right granted.
31 Aug 2017admin correction● Neutral
Appendix 4G corporate governance checklist lodged with the 2017 annual report. It carries no operational or financial substance.
31 Aug 2017annual report● Neutral
Annual report for the year to 30 June 2017. Visible text covers only directors and corporate details, with the same board (Fry, Willes, Bloking) and auditor HLB Mann Judd. Financial figures are truncated and not visible.
