Past year: ▼ 38%(0.40c – 1.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 June 2009capital raising announcement● Neutral
Administrative letter: shareholders outside Australia and New Zealand cannot join the rights issue; their shares go to Patersons to sell, with proceeds paid to them. Prospectus mailed to eligible holders; offer closes 8 July.
2 June 2009capital raising announcement● Neutral
Cover letter mailing the rights issue timetable to shareholders. It says the placement completed and shows 102.75m shares on issue after the offer. Nothing new beyond the 22 May announcement.
1 June 2009capital raising announcement● Neutral
Eastern lodged the prospectus for its 1-for-4 rights issue at 24c, issuing up to 20,550,517 shares to raise about $4.93m. Underwritten by Patersons. Offer closes 8 July. Detail of the already-announced raising; no new terms.
What it means for a shareholder
20.6m new shares at about A$0.2399 to raise about A$4.9m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (4,168 at the issue price), your slice goes from 0.00406% to 0.00338% of the company. To keep it you'd need 834 more shares - about A$200 at the issue price.
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22 May 2009capital raising announcement▲ GoodMajor
Eastern is raising A$7.5m at 24c: a A$2.5m placement of about 10.4m shares and a 1-for-4 entitlement offer for about A$5m, underwritten by Patersons. Funds mainly go to exploring ATP 799P. Becamal sub-underwrites. Follows the April price spike.
What it means for a shareholder
10.4m new shares at about A$0.7212 to raise about A$7.5m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,387 at the issue price), your slice goes from 0.00193% to 0.00169% of the company. To keep it you'd need 201 more shares - about A$145 at the issue price.
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20 Nov 2008capital raising announcement● NeutralMajor
Eastern took up Galilee's 31.15m-share rights issue shortfall for $2.648m, lifting its stake to 67.4%. The raising totals $4.48m for ATP 799P seismic. Eastern funded it with a 12% unsecured $2.6m loan from a related party of MD Campbell Smith.
30 Sept 2008capital raising announcement● NeutralMajor
Galilee's rights issue raised $1.83m at 8.5c (21.56m shares), for ATP 799P exploration, leaving 812.3m shares. Eastern didn't take up its rights but plans to buy the 31.15m-share shortfall for $2.65m, lifting its stake to 67.4%.
23 May 2007capital raising announcement● NeutralMajor
Galilee Energy plans to raise $3.07m by issuing 614m shares at 0.5c to fund its coal seam methane and petroleum exploration, with drilling due mid-June. Eastern (60.52%) intends to take up its full entitlement but will not underwrite any shortfall.
26 June 2006capital raising announcement▲ Good
Largest shareholder Propwood (32.6%) intends to exercise its 12.23 million options at 6c, out of 98.4 million options on issue. Whareatea West drilling is complete, with results expected in the coming months.
1 June 2006capital raising announcement● Neutral
Eastern's chairman urges optionholders to exercise 6c options by 30 June 2006, which could raise up to $5.9 million. The letter restates the Broughton, Cascade, Whareatea West and Straith plans.
24 Feb 2006capital raising announcement▲ GoodMajor
Eastern raised $4.2 million from AMP Capital Investors through a placement of 70 million new shares at 6 cents each. Funds are for proposed coal acquisitions in Australia and New Zealand and working capital.
What it means for a shareholder
70.0m new shares at A$0.060 to raise about A$4.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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