Each one in plain English, with the numbers worked through for a shareholder.
7 Apr 2006capital raising announcement▲ Good
Ivanhoe raised about US$25.4M in a special-warrant placement to three offshore investors. Deputy Chairman and top shareholder Robert Friedland took part to keep his stake near 20%; most proceeds went to retire debt and boost working capital.
24 Feb 2006asset acquisition disposition▲ GoodMajor
Ivanhoe bought back the 40% stake in its Dagang, China enhanced-oil-recovery project that it had farmed out to CITIC Resources' Richfirst unit in 2004, paying in shares plus a $7.4M loan and taking the project to 100% ownership.
This amendment adds the Ensyn Group financial statements and pro forma figures for the merger completed April 15, 2005. It also reports that Ensyn's two nominated directors, Dr. Robert Graham and Mr. Robert Pirraglia, joined the board on April 15, 2005, and that Pirraglia joined the audit committee on May 5, 2005. The filing says the company dropped its right to consulting services from Pirraglia under the Ensyn services agreement, and that he resigned as an executive officer of the Ensyn service providers. It adds no new deal terms; no figures are given in the filing text itself.
Ivanhoe completed the Ensyn merger, paying the agreed US$10M cash and issuing 30M shares. Ensyn's petroleum-upgrading technology (the future HTL process) is now Ivanhoe's; Ensyn's separate biomass/renewables business was spun out to its old shareholders before closing.
Ivanhoe agreed to acquire Ensyn Group for US$10M cash plus about 30M shares (roughly US$75M), gaining Ensyn's patented RTP heavy-oil upgrading technology that would become the basis of Ivanhoe's core HTL heavy-oil process.
RS Investment Management Co. LLC, G. Randall Hecht, Paul H. Stephens reported a IVANHOE ENERGY INC shareholding of 6,609,668 shares (4.20% of votes) in a periodic institutional filing.
Robert Martin Friedland, Newstar Holdings SRL, Newstar Securities SRL reported a IVANHOE ENERGY INC shareholding of 46,611,725 shares (28.90% of votes) in a periodic institutional filing.
RS Investment Management Co. LLC, G. Randall Hecht, Paul H. Stephens reported a IVANHOE ENERGY INC shareholding of 14,283,162 shares (9.90% of votes) in a periodic institutional filing.
Capital Research and Management Company reported a IVANHOE ENERGY INC shareholding of 9,881,300 shares (6.80% of votes) in a periodic institutional filing.
Capital Research and Management Company reported a IVANHOE ENERGY INC shareholding of 12,692,200 shares (9.70% of votes) in a periodic institutional filing.