21 Mar 2012capital raising announcement● Neutral
Notice that 18,461,538 shares at 6.5 cents are to be issued on or about 23 March 2012. This is the A$1.2m placement announced on 20 March.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Mar 2012capital raising announcement● Neutral
Notice that 27,000,000 shares at 5 cents are to be issued on or about 19 March 2012. This appears to be Tranche 2 of the February placement (inference; the notice does not say so); it is about 1 million more than the 26m maximum announced.
7 Feb 2012capital raising announcement▼ BadMajor
Challenger places about A$2.8m at 5c per share, mainly to fund Mercury Stetson drilling and testing. Tranche 1 is 30m shares (A$1.5m); Tranche 2 is up to 26m shares (A$1.3m), subject to a mid-March shareholder vote. The price is well below the 15c April 2011 placement.
20 Apr 2011capital raising announcement▲ GoodMajor
Challenger raises A$7.1m at 15c per share via a placement managed by Patersons: 30.667m shares now (A$4.6m) and 16.66m (A$2.5m) subject to shareholder approval in late May. Funds go to Triple Crown land, fracture stimulation and testing, and the Cranemere application.
7 Sept 2010capital raising announcement● Neutral
Notice that 2,727,133 options at $0.015 ($0.20 exercise, expiring 30 June 2012) will be issued around 8 September, apparently from the shortfall. Compliance notice allowing on-sale of the securities; small amount.
9 Aug 2010capital raising announcement● Neutral
The options offer closed 4 August. Acceptances covered 46,639,696 new options, raising $699,550, with 14,858,342 options unclaimed. That is short of the $922,426 targeted.
6 July 2010capital raising announcement● Neutral
Prospectus for a non-renounceable offer of one new option per two shares held, at $0.015 each, to raise up to about $922,426. Options have a $0.20 exercise price and expire 30 June 2012; the offer closes 4 August 2010. This follows the June placement announcement.
6 July 2010capital raising announcement● Neutral
Letter to shareholders restating the options offer: up to 61,495,038 options at $0.015, one per two shares, $0.20 exercise, expiring 30 June 2012, raising about $922,425. Record date 16 July; not underwritten. Repeats the prospectus; no new information.
30 June 2010capital raising announcement▲ GoodMajor
Sunset completes a placement of 16,042,000 shares at $0.085 to raise $1,363,570, to fund Triple Crown exploration and South Africa. A one-for-two options offer is coming. Triple Crown drilling locations are chosen; a Cranemere environmental plan is due by end September.
18 Feb 2010capital raising announcement▲ GoodMajor
Sunset finalises a placement of 10 million shares at $0.12 to raise $1.2 million, approved by shareholders on 10 February. It meets a condition of the Bundu acquisition, with settlement expected by 16 March. Funds go to Bundu's South African assets and working capital.
12 Aug 2009capital raising announcement● Neutral
The placement is complete, raising $287,500 from 5,750,000 shares at $0.05. Directors are also to get 3,500,000 incentive options at $0.10, expiring 30 June 2012, subject to shareholder approval at the November AGM.
3 July 2009capital raising announcement● NeutralMajor
Sunset agrees to place up to 5,750,000 shares at $0.05 to raise $287,500 for working capital and California exploration. This is the same price as the March rights issue, which raised $670,337 in total.
6 Mar 2009capital raising announcement● NeutralMajor
The rights issue shortfall is placed, with applications for 9,321,500 shares raising $466,075. Total raised is $670,336.80 from 13,407,336 shares, taking shares on issue to 42,157,337. This nearly fills the $718,750 target.
13 Jan 2009capital raising announcement▼ Bad
Shareholders took up only 4,085,836 shares, raising $204,291 of the possible $718,750. A shortfall of 10,289,154 shares remains, which directors intend to place with other parties.
4 Dec 2008capital raising announcement● Neutral
Offer document for the rights issue: one share for every two held at $0.05, raising up to $718,750; opens 17 December 2008 and closes 5 January 2009. The text is truncated, so use of funds details are not visible.
3 Dec 2008capital raising announcement▼ BadMajor
Sunset announces a rights issue of one new share for every two held at $0.05, raising up to $718,750 for working capital and California exploration. That is well below the $0.20 placement price earlier in 2008.
19 June 2008capital raising announcement● Neutral
Compliance notice that 3,750,000 shares at $0.20 were issued on 16 June 2008, completing the $750,000 placement announced in May. Administrative; no new information.
16 May 2008capital raising announcement● NeutralMajor
Sunset agrees to place 3,750,000 shares at $0.20 to raise $750,000 before costs, for working capital and Maricopa and Silverthread work. Same price as the IPO; adds about 15% to the 25m shares on issue.
12 Oct 2007capital raising announcement● NeutralMajor
Sunset Energy (then the company name) issued a prospectus to raise $3,000,000 via 15,000,000 shares at $0.20 each, ahead of ASX listing. Funds go to earning 50% of the Maricopa and Deer Creek prospects in California's San Joaquin Basin by funding one well on each, via a deal with Solimar Energy.
What it means for a shareholder
15.0m new shares at A$0.200 to raise about A$3.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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