Past year: ▼ 64%(5.00c – 17.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 May 2026capital raising announcement● Neutral
Prospectus offering quoted options: up to 83,333,333 to placement participants, 27,777,778 to the lead manager and 2,083,333 to S3 Consortium. It formalises the options attached to the April placement and raises no new money.
21 Apr 2026capital raising announcement▲ GoodMajor
Invictus raised $10m via a placement of 166,666,667 shares at $0.060, with one $0.10 two-year option for every two shares, mainly to fund the Musuma-1 well. This follows the failed Al Mansour funding; spud is now stated as H2 2026, not H1.
What it means for a shareholder
167m new shares at A$0.060 to raise about A$10.0m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (16,667 at the issue price), your slice goes from 0.00225% to 0.00184% of the company. To keep it you'd need 3,758 more shares - about A$225 at the issue price.
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27 Aug 2025capital raising announcement▲ GoodMajor
Qatar-based Al Mansour Holdings signed a binding deal to buy 19.9% of Invictus for A$37.8m at A$0.095 a share, to fund Musuma-1 and work. It also offers up to US$500m of conditional future funding, and a joint venture, Al Mansour Oil & Gas, will pursue African acquisitions.
31 Dec 2024capital raising announcement▲ GoodMajor
Tranche Two of the Zimbabwe placement completed: 53,030,303 shares at A$0.10 (US$3.5m), plus US$2.065m of accepted oversubscriptions (31,298,025 shares). Options at A$0.30 attach. Completes the raise approved in October, which is now about US$12m in total.
What it means for a shareholder
53.0m new shares at A$0.100 to raise about A$3.5m. That's 6.7% dilution: every existing holder's slice gets 6.7% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00135% to 0.00126% of the company. To keep it you'd need 717 more shares - about A$72 at the issue price.
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1 Aug 2024capital raising announcement▲ GoodMajor
The US$10m placement (151.5m shares at A$0.10, with A$0.30 options) is fully subscribed, US$5m underwritten by Mutapa. Tranche One is about 98.5m shares (US$6.5m); Tranche Two, about 53m shares (US$3.5m), needs shareholder approval at a September EGM. Completes the 29 July raise.
What it means for a shareholder
152m new shares at A$0.100 to raise about A$10.0m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00135% to 0.00112% of the company. To keep it you'd need 2,050 more shares - about A$205 at the issue price.
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29 July 2024capital raising announcement● NeutralMajor
Invictus agreed a placement of up to US$10m (151.5m shares at A$0.10) to Zimbabwean investors via Mangwana, with Mutapa Investment Fund underwriting US$5m. Options at A$0.30 attach. Mutapa is to implement the Petroleum Production Sharing Agreement. The price is below the earlier $0.13 raisings; the second tranche needs shareholder approval.
What it means for a shareholder
152m new shares at A$0.100 to raise about A$10.0m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00135% to 0.00112% of the company. To keep it you'd need 2,050 more shares - about A$205 at the issue price.
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13 Mar 2024capital raising announcement▼ BadMajor
The entitlement offer closed having raised only A$1.49m (11.4m shares), far below the up to A$15.2m targeted. Invictus has also engaged major shareholder Mangwana Capital to lead a strategic investment from Zimbabwean institutions, and is progressing the well test and 3D seismic planning.
What it means for a shareholder
11.4m new shares at about A$0.1307 to raise about A$1.5m. That's 1.5% dilution: every existing holder's slice gets 1.5% smaller. If you held A$1,000 of shares (7,651 at the issue price), your slice goes from 0.00104% to 0.00102% of the company. To keep it you'd need 118 more shares - about A$15 at the issue price.
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16 Feb 2024capital raising announcement● Neutral
Re-issue of application instructions for the entitlement offer after shareholder queries, reflecting the extended close of 6 March 2024. The offer terms and the roughly A$15.2m target are unchanged. Nothing new.
14 Feb 2024capital raising announcement● Neutral
Invictus extended the entitlement offer close from 19 February to 6 March 2024. It cited the registry's offer website being shut for maintenance, postal delays, and giving shareholders enough time. Results now follow in mid-March.
2 Feb 2024capital raising announcement● Neutral
The entitlement offer is now open to eligible shareholders to raise about A$15.2m, with a free option for every two shares taken up. At this point it was due to close 19 February. Terms are unchanged from the 23 January launch.
23 Jan 2024capital raising announcement● Neutral
Prospectus for the entitlement offer announced the same day: 1 share per 12 held at $0.13 plus a free listed option per two shares, to raise up to $15,236,541. Largely a legal document for the offer already described, with no new business information in the readable extract.
23 Jan 2024capital raising announcement● NeutralMajor
Invictus launched a non-renounceable entitlement offer: 1 share for every 12 held at $0.13, with a free IVZOA option per two shares, raising up to about $15.2m. Terms match the December placement. It opens on the 30 January record date and closes 19 February.
27 Dec 2023capital raising announcement● NeutralMajor
Invictus raised A$15.0m through an institutional placement of about 115.4m shares at $0.13, a 16% discount to the 21 December price, with a free IVZOA option for every two shares. Funds go to the Mukuyu-2 well test, 3D seismic preparation and long-lead items. A shareholder entitlement offer is to follow.
What it means for a shareholder
115m new shares at A$0.130 to raise about A$15.0m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (7,692 at the issue price), your slice goes from 0.00104% to 0.0009% of the company. To keep it you'd need 1,201 more shares - about A$156 at the issue price.
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27 Oct 2023capital raising announcement● Neutral
Cleansing prospectus offering 33,333,334 free options to participants in the September placement. This is a technical step so the options can be issued and traded, with issue planned 14 November 2023. No new information on the business.
21 Sept 2023capital raising announcement● NeutralMajor
Invictus raises A$15.0m via a two-tranche placement of about 100m shares at $0.15, a 25% discount to the 18 September price, to fund Mukuyu-2. Tranche 1 is about $7.5m now; Tranche 2 and attaching options (1 for 3) need AGM approval in late October.
What it means for a shareholder
100m new shares at A$0.150 to raise about A$15.0m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.000902% to 0.000794% of the company. To keep it you'd need 902 more shares - about A$135 at the issue price.
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13 June 2023capital raising announcement● Neutral
Second supplementary prospectus adds an offer of 53,125,000 free options to participants in the $12.75m June placement, one per two shares. No new funds are raised. Legal paperwork for the already announced placement.
6 June 2023capital raising announcement▲ GoodMajor
Invictus raises a further $12.75m from institutions at $0.12 (106.25m shares, an 11.1% discount to the last price), with attaching $0.20 options. Total raised since April is $35.4m, funding Mukuyu-2, which remains on track to spud in Q3 2023. $3m needs shareholder approval.
What it means for a shareholder
106m new shares at about A$0.3332 to raise about A$35.4m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (3,001 at the issue price), your slice goes from 0.000406% to 0.000355% of the company. To keep it you'd need 431 more shares - about A$144 at the issue price.
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1 June 2023capital raising announcement● Neutral
Supplementary prospectus formalises acceptance of the oversubscribed share purchase plan, $12,735,284 in total. No shortfall shares will be issued, and the extra $2.7m goes to working capital. Shares issue 2 June 2023; options follow after the 7 June meeting.
31 May 2023capital raising announcement▲ GoodMajor
The share purchase plan closed oversubscribed, raising $12.7m at $0.12 from 106,127,367 new shares, with the board accepting $2.7m above the $10m target. With the $10m April placement, $22.7m has been raised; funds go to Mukuyu-2 and seismic.
What it means for a shareholder
106m new shares at about A$0.1197 to raise about A$12.7m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (8,356 at the issue price), your slice goes from 0.00113% to 0.000989% of the company. To keep it you'd need 1,200 more shares - about A$144 at the issue price.
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22 May 2023capital raising announcement▲ Good
The share purchase plan has passed its initial $5m target, and the board will accept up to $5m more, for a total of up to $10m at $0.12. Closes 25 May 2023, with a free $0.20 option per two shares. Continues the April raise.
8 May 2023capital raising announcement● Neutral
Administrative notice on how to apply for the share purchase plan: eligible holders on the 5 April record date can subscribe up to A$30,000 at $0.12. The offer closes 25 May 2023. No new terms.
3 May 2023capital raising announcement● Neutral
Prospectus for the share purchase plan: up to 83,333,333 shares at $0.12, plus 41,666,667 options to placement participants and 10,416,667 to lead managers. General meeting is set for 31 May 2023. Legal documentation of the already announced offer.
What it means for a shareholder
83.3m new shares at A$0.120 to raise about A$10.0m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.00113% to 0.00101% of the company. To keep it you'd need 939 more shares - about A$113 at the issue price.
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3 May 2023capital raising announcement● NeutralMajor
Share Purchase Plan opens for eligible shareholders, raising up to $10m at $0.12, the same as the April placement, with one free $0.20 option per two shares. Targets $5m initially, with up to $5m extra accepted. Closes 25 May 2023.
6 Apr 2023capital raising announcement● NeutralMajor
Invictus raises $10.0m via placement of 83,333,333 shares at $0.12, a 20% discount, with one free $0.20 three-year option per two shares. Funds Mukuyu-2 preparations and seismic. This is well below the $0.23 August 2022 raise. $1.3m from insiders needs shareholder approval.
What it means for a shareholder
83.3m new shares at A$0.120 to raise about A$10.0m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.00113% to 0.00101% of the company. To keep it you'd need 939 more shares - about A$113 at the issue price.
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11 Oct 2022capital raising announcement● Neutral
Cleansing prospectus offering 10,000 options at $0.001 to raise up to $10. It is a technical document to remove trading restrictions on the existing options, supporting the quotation sought. No new money is raised.
31 Aug 2022capital raising announcement● NeutralMajor
Raises $25m via placement of 108,695,652 shares at $0.23 (25.8% discount), with free 1-for-1 $0.40 five-year options. Invictus will sole-fund Mukuyu-1 ($10.0m) and Baobab-1 ($13.5m) rather than farm out, after weighing multiple farm-in bids. Exploration rights approved for gazette.
What it means for a shareholder
109m new shares at A$0.230 to raise about A$25.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (4,348 at the issue price), your slice goes from 0.000588% to 0.000513% of the company. To keep it you'd need 639 more shares - about A$147 at the issue price.
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23 May 2022capital raising announcement● NeutralMajor
Raises $12.0m via a placement of 60,026,165 shares at $0.20, a 27.3% discount to the 18 May price. Investors get free 1-for-2 options at $0.35 (one year), subject to shareholder approval. Funds go mainly to Mukuyu-1 ($9.0m); farm-in bids are still being progressed.
What it means for a shareholder
60.0m new shares at A$0.200 to raise about A$12.0m. That's 7.5% dilution: every existing holder's slice gets 7.5% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.000676% to 0.000626% of the company. To keep it you'd need 406 more shares - about A$81 at the issue price.
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25 Jan 2022capital raising announcement▲ GoodMajor
Capital raising completed at $8m: $4m placement plus $4m SPP (39,999,775 shares issued at $0.10, with $0.14 options). Mangwana takes 5,000,000 shares. Funds pay the rig mobilisation fee, long-lead items and seismic processing. Resolves the raising announced 29 December.
What it means for a shareholder
40.0m new shares at A$0.100 to raise about A$4.0m. That's 5.1% dilution: every existing holder's slice gets 5.1% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00135% to 0.00128% of the company. To keep it you'd need 541 more shares - about A$54 at the issue price.
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17 Jan 2022capital raising announcement● Neutral
Supplementary prospectus formalising the SPP increase to $4m, the early 18 January close, pro-rata scale-back, and the Mangwana offer of 5,000,000 shares at $0.10 with 2,500,000 options. Legal document repeating the same-day announcement.
What it means for a shareholder
5.0m new shares at A$0.100 to raise about A$500,000. That's 0.672% dilution: every existing holder's slice gets 0.672% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00135% to 0.00134% of the company. To keep it you'd need 68 more shares - about A$7 at the issue price.
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17 Jan 2022capital raising announcement▲ GoodMajor
SPP raised again to $4m (double the original $2m) and closed early on 18 January, with pro-rata scale-back instead of first-come. Zimbabwe's Mangwana Opportunities Fund will also place $500,000 at $0.10 with 1-for-2 $0.14 options, escrowed 3 months.
