Each one in plain English, with the numbers worked through for a shareholder.
3 Feb 2012capital raising announcement▲ GoodMajor
The $4,000,000 offer closed oversubscribed at the maximum, and ASX listing is expected 13 February 2012. Moroccan permit grant still needs ministerial signatures, which the company calls administrative, so it waived the offer conditions. A US$3,000,000 bank guarantee backs the work commitments.
29 Nov 2011other● Neutral
Second part of the prospectus: the independent technical report on the Mazagan permit in Morocco. It covers source rocks, oil charge risk and the seismic data (about 3,659 km2 of 3D). It flags biodegradation as a material risk. Adds detail only.
29 Nov 2011capital raising announcement● NeutralMajor
Pura Vida Energy NL (the company later known as Hartshead) issues a prospectus to raise $4,000,000 by offering 20,000,000 shares at $0.20 each, ununderwritten, led by CPS Securities. The prospectus describes the Mazagan offshore permit in Morocco and calls the shares highly speculative.
What it means for a shareholder
20.0m new shares at A$0.200 to raise about A$4.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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