Past year: ▲ 0%(0.10c – 0.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 May 2013capital raising announcement● NeutralMajor
Share Purchase Plan offered to existing holders at 3 cents a share, up to A$3m (100m shares), with $1,200-$15,000 per holder. The price is a 14.3% discount to the five-day average. Funds go to finishing Malolos-1, St Griede seismic preparation and working capital.
31 Aug 2012capital raising announcement● NeutralMajor
Raised $2.03m by placing 31.26m shares at $0.065, a 5.8% discount to the 10-day average price. It covers the shortfall after about 34.2m $0.05 options lapsed unexercised on 15 June, which would have raised about $1.71m. Funds go to SC44, St Griede and working capital.
What it means for a shareholder
31.3m new shares at A$0.065 to raise about A$2.0m. That's 5.4% dilution: every existing holder's slice gets 5.4% smaller. If you held A$1,000 of shares (15,385 at the issue price), your slice goes from 0.00283% to 0.00268% of the company. To keep it you'd need 884 more shares - about A$57 at the issue price.
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18 May 2012capital raising announcement● Neutral
The 35m shares to directors (cash subscription, about $1.4m at $0.04) were issued after shareholders approved them on 3 May. Completes the March raising; the notice covers 53.75m shares in total.
23 Mar 2012capital raising announcement● NeutralMajor
Adds a $700,000 placement of 17.5m shares at $0.04, on top of the $3.1m (77.5m shares at $0.04) committed on 14 March from directors and investors. Funds go to SC44 drilling; shares on issue rise to about 473.6m.
What it means for a shareholder
17.5m new shares at A$0.040 to raise about A$700,000. That's 3.7% dilution: every existing holder's slice gets 3.7% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.00548% to 0.00528% of the company. To keep it you'd need 959 more shares - about A$38 at the issue price.
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18 Oct 2011capital raising announcement● Neutral
Directors propose taking 2.89m shares at $0.05 in lieu of owed fees, to preserve cash, subject to shareholder approval at the AGM. Small, non-cash issue; continues the practice of paying directors in shares.
2 Dec 2010capital raising announcement● Neutral
The 27.4m shortfall shares and matching $0.05 options were issued to the underwriter and its nominees, completing the rights issue. Shares on issue are now 311,986,736. Budside is the top holder with 14.83%.
18 Nov 2010capital raising announcement● NeutralMajor
The rights issue closed under-subscribed: acceptances for 49.5m of 76.9m shares. The remaining 27.4m shortfall shares go to the underwriter Budside, controlled by MD Morton, so the raising is still completed in full.
6 Oct 2010capital raising announcement● Neutral
Shareholder letter repeating the rights issue terms: 1-for-3 at $0.025, about $1.959m, underwritten by Morton's Budside. Shows 235.06m shares now, rising to about 313.4m if fully taken up. Nothing new.
5 Oct 2010capital raising announcement● NeutralMajor
Gas2Grid offers a 1-for-3 non-renounceable rights issue of about 78.35m shares at $0.025 to raise about $1.959m, each with a free $0.05 option expiring 15 June 2012. Fully underwritten by Budside, controlled by MD Dennis Morton. Funds go to exploration and working capital.
What it means for a shareholder
78.3m new shares at A$0.025 to raise about A$2.0m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.017% to 0.0128% of the company. To keep it you'd need 13,333 more shares - about A$333 at the issue price.
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25 Mar 2010capital raising announcement● NeutralMajor
Gas2Grid places 52m shares at $0.025 to raise $1.3m, with a free 52m options (exercise $0.05, expiring 30 Sept 2011) subject to shareholder approval. Half the shares need approval. Funds cover working capital, costs of the cancelled Orion schemes, and Cebu and France exploration.
What it means for a shareholder
52.0m new shares at A$0.025 to raise about A$1.3m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.0219% to 0.017% of the company. To keep it you'd need 11,362 more shares - about A$284 at the issue price.
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7 July 2009capital raising announcement▲ GoodMajor
Placement of 21.3m shares at 5 cents raised $1,065,750 from qualified investors, using up the remaining 15% placement capacity. Funds go to the Cebu workovers and seismic, the St Griede gravity survey, EP 453 and new ventures.
What it means for a shareholder
21.3m new shares at A$0.050 to raise about A$1.1m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.0128% to 0.0113% of the company. To keep it you'd need 2,732 more shares - about A$137 at the issue price.
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16 Dec 2008capital raising announcement● Neutral
Allotment of rights issue shares, with quotation disclosure. Top 20 holders as at 16 December 2008 held 62.19% of shares, led by Budside 9.08%, Munns 8.71% and Morton 5.50%. The implied share count is about 154m.
11 Dec 2008capital raising announcement● Neutral
Results of the rights issue announcement; text is mostly unreadable, with no clear figures. The take-up result is given in the later quarterly report.
8 Dec 2008capital raising announcement● Neutral
Notice that the rights issue offer has closed. Text is largely unreadable, so no take-up figure is visible here.
24 Nov 2008capital raising announcement● Neutral
Prospectus for the 1-for-1 rights issue (one share plus one option per share held) lodged 7 November 2008, closing 8 December. Repeats the already-announced terms in the excerpt; the risk section is truncated.
24 Nov 2008capital raising announcement● Neutral
Acceptance form for the rights issue: up to 115,520,066 new shares at $0.03, one for one, with an option for each new share. Closes 8 December 2008. Administrative form with no new information.
What it means for a shareholder
116m new shares at A$0.030 to raise about A$3.5m. That's 50% dilution: every existing holder's slice gets 50% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0289% to 0.0144% of the company. To keep it you'd need 33,333 more shares - about A$1,000 at the issue price.
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7 Nov 2008capital raising announcement● NeutralMajor
Prospectus for a 1-for-1 non-renounceable rights issue, with one new share and one new option per share held, closing 8 December 2008. Issue price and amount are not shown in the excerpt. Follows cash falling to $0.4m by September.
7 Nov 2008capital raising announcement● NeutralMajor
Notice of the 1-for-1 non-renounceable rights issue: about 115.5m new shares at $0.03 to raise about $3.465m, each with a free $0.08 option expiring 30 Nov 2010. Not underwritten; funds go to exploration, issue costs and working capital. Gives the price and size missing earlier.
What it means for a shareholder
116m new shares at A$0.030 to raise about A$3.5m. That's 50% dilution: every existing holder's slice gets 50% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0289% to 0.0144% of the company. To keep it you'd need 33,328 more shares - about A$1,000 at the issue price.
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20 July 2007capital raising announcement▲ Good
Share purchase plan completed, raising the maximum $1.232m. 468 of 752 eligible shareholders (62%) applied; scaled back to 53.9% of applications, with $1,052,925 of oversubscriptions refunded. Completes the retail part of the $3m raising.
12 July 2007capital raising announcement▲ Good
The share purchase plan closed oversubscribed, with applications well above the 20,534,423-share ($1.232m) maximum. Allocations will be scaled back to about 54% of applications, with refunds to follow.
15 June 2007capital raising announcement● Neutral
Share purchase plan documents issued at 6c per share, for $1,999.98 to $4,999.98 per holder. Record date moves to 22 June and the offer now closes 11 July. J A Advisory Services fully underwrites it. Follows the 12 June raising.
8 May 2006capital raising announcement● Neutral
Appendix 3B for the 5,000,000-share placement for working capital, now giving 38,731,528 quoted shares. Its price is written as '0.10 cents', which appears to be a typo for the 10 cents in the 4 May announcement. Administrative follow-up.
4 May 2006capital raising announcement● NeutralMajor
Placed 5,000,000 shares at 10 cents to raise $500,000 of working capital through Montagu Corporate clients. Flow-back test equipment is expected on site in Cebu on 16 May.
What it means for a shareholder
5.0m new shares at A$0.100 to raise about A$500,000. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0296% to 0.0258% of the company. To keep it you'd need 1,482 more shares - about A$148 at the issue price.
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