Each one in plain English, with the numbers worked through for a shareholder.
6 Feb 2017capital raising announcement● Neutral
Update on the $1.0m placement: the second $680,000 tranche has been received, so all funds are in. The 250 million shares are expected to be issued 7 February.
What it means for a shareholder
250m new shares at about A$0.0027 to raise about A$680,000. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (367,647 at the issue price), your slice goes from 0.041% to 0.032% of the company. To keep it you'd need 102,425 more shares - about A$279 at the issue price.
Update on the $1.0m placement: the first $320,000 tranche has been received. The remaining $680,000 is due by 10 February, with 250 million shares to be issued 14 February.
30 Jan 2017capital raising announcement▲ GoodMajor
Key raised $1.0m through a placement of 250 million shares at $0.004 to two investors, one sophisticated and one existing shareholder. Funds go to Perth Basin work commitments, new venture assessment and working capital. No fees, no underwriting.
What it means for a shareholder
250m new shares at A$0.004 to raise about A$1.0m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0279% to 0.0218% of the company. To keep it you'd need 69,649 more shares - about A$279 at the issue price.
4 Mar 2016capital raising announcement● NeutralMajor
Key raised $700,000 by placing 175 million shares at $0.004 each to one sophisticated investor, lifting shares on issue from 722.36m to 897.36m (19.5% dilution). Funds go to Canning and Perth Basin work commitments, new ventures and working capital.
What it means for a shareholder
175m new shares at A$0.004 to raise about A$700,000. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.0346% to 0.0279% of the company. To keep it you'd need 60,565 more shares - about A$242 at the issue price.
The entitlement offer closed fully subscribed with applications for 141.86m shares. A further 13.07m shares ($130,740) go to sophisticated investors at 1.0c, for total funds raised of $1,549,310. This resolves the rights issue and adds to Key's roughly $2.3m cash at December 2014.
Key extended the entitlement offer closing date from 14 April to 28 April 2015. Allotment moves to 5 May. Terms are unchanged at $0.01 a share, up to $1,418,568. No reason is given.
Administrative notice that the entitlement offer documents and personalised forms have been posted to eligible shareholders. The offer is still for up to about $1,418,568 at $0.01 per share.
Shareholder notification letter repeating the 1-for-4 offer terms at $0.01, timetable and use of funds. Adds that no shortfall shares go to anyone who would end up above 20%. No new substance.
Letter to optionholders on the entitlement offer. The 33.5m unlisted options carry no right to participate; holders must exercise by 25 March 2015 to join. Repeats offer terms and timetable; no new information.
Offer document for the 1-for-4 entitlement offer at 1.0c, up to $1,418,568, with a Chairman's letter. It repeats the announced terms, 28.57% discount to the last close, and closing date of 14 April 2015. No new information.
23 Mar 2015capital raising announcement● NeutralMajor
Key launched a 1-for-4 non-renounceable entitlement offer at 1.0c a share, aiming for up to $1,418,568 (141.9m shares). Funds go to Dunnart-2 testing, Canning Basin studies and EP104 seismic reprocessing, plus working capital. Not underwritten; shareholders who don't take up are diluted.
ASF's own notice of its second placement: $292,119.06 for 22,470,697 Key shares at 1.3 cents, taking it to 19.9% of the enlarged capital. Repeats Key's announcement of the same day.
ASF agreed to pay a further $292,119.06 for 22,470,697 Key shares at 1.3 cents, a premium to the five-day VWAP, taking its holding to 19.9% of the enlarged capital. The issue used the share placement facility and the 15% placement capacity approved at the 2013 AGM.
20 Jan 2014capital raising announcement▲ GoodMajor
ASF Group agrees to take a 19.9% cornerstone stake in Key via a placement at 1.3 cents per share, raising $1,175,815 under the placement facility approved at the November 2013 AGM. ASF chairman Min Yang is to join the Key board.
ASF's own notice of the same Key placement: 19.9% at 1.3 cents for $1,175,815, making ASF Key's single largest shareholder. Adds nothing new to Key's announcement.
21 Aug 2012capital raising announcement▲ GoodMajor
Placement completed oversubscribed: 142m shares at 2.8 cents raised $3.99m, up from the $2.8m first announced. Funds Cyrene-1 and Perth Basin work including Waugh-1. Resolves the 13 August raising.
What it means for a shareholder
142m new shares at A$0.028 to raise about A$4.0m. That's 32% dilution: every existing holder's slice gets 32% smaller. If you held A$1,000 of shares (35,714 at the issue price), your slice goes from 0.0116% to 0.00794% of the company. To keep it you'd need 16,462 more shares - about A$461 at the issue price.
13 Aug 2012capital raising announcement▲ GoodMajor
Key has commitments to place 100m shares at 2.8 cents, raising about $2.8m, for working capital and the Buru-run Cyrene-1 well. Follows the $1.0m raise at 2.5c in March; the remainder will fund other Canning and Perth Basin work.
What it means for a shareholder
100m new shares at A$0.028 to raise about A$2.8m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held A$1,000 of shares (35,714 at the issue price), your slice goes from 0.0116% to 0.00875% of the company. To keep it you'd need 11,593 more shares - about A$325 at the issue price.
15 Mar 2012capital raising announcement● NeutralMajor
Key placed 40m shares at 2.5 cents to sophisticated investors, raising $1.0m for working capital including Canning Basin exploration. Price is above the 1.7c last quoted in October.
What it means for a shareholder
40.0m new shares at A$0.025 to raise about A$1.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.0149% to 0.013% of the company. To keep it you'd need 5,969 more shares - about A$149 at the issue price.
1 Dec 2010capital raising announcement● NeutralMajor
The entitlement offer raised $2,513,205 against a target of up to about $6m, so roughly 40% was taken up. Directors will try to place the shortfall to fund the Lidsey #2z well, with any excess used for working capital.
Banking system problems at NAB delayed processing of entitlement offer applications. Reconciliation and shortfall allocation moved to 1 December, with allotment on 2 December and trading expected 3 December.
Reminder letter that the entitlement offer, up to about $6m at 4c with attaching 7.5c options, closes 26 November. Pursuit Capital is lead manager. No new terms.
The entitlement offer prospectus was posted on 12 November after the 10 November record date. The offer still closes 26 November. No new terms; the offer funds the Lidsey #2z well in the UK.
Shareholder letter repeating the 28 October entitlement offer terms: 1-for-1 at 4c, up to 149.7m shares and 74.8m options, not underwritten, closing 26 November. Adds a timetable, with shares expected to trade 2 December. No new terms.
28 Oct 2010capital raising announcement● NeutralMajor
Key plans a non-renounceable entitlement offer of one new share per share held at 4c, raising up to about $6m, with one free 7.5c option per two shares. Funds go to the Lidsey #2z well and working capital. The price is below the July placement's 5.3c.
13 July 2010capital raising announcement● NeutralMajor
Key raised about $1.033m placing 19.5m shares at 5.3c to institutional and sophisticated investors, for working capital and the two North Perth Basin wells. Investors taking 4m+ shares get 1-for-2 options at 7.5c, subject to shareholder approval. Price is well below the 11c entitlement offer.
What it means for a shareholder
19.5m new shares at A$0.053 to raise about A$1.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (18,868 at the issue price), your slice goes from 0.0145% to 0.0126% of the company. To keep it you'd need 2,826 more shares - about A$150 at the issue price.
The entitlement offer is complete: over $3.6m raised from new and existing holders, and the remaining ~$1.1m shortfall placed with Kings Park Capital clients. This gives about 129m shares, resolving the raising.
11 Aug 2009capital raising announcement● NeutralMajor
The entitlement offer closed having raised $2.78m (about 60%) from existing holders. Of the roughly $1.95m shortfall, $810k is placed with new investors and about $1.14m is still to be placed. Short of the $4.73m target for now.
Key issued the offer booklet for its 1-for-2 renounceable entitlement offer at $0.11 per share, closing 5 August 2009. It aims to raise up to $4.73m, mainly to develop the UK oilfields being acquired from Midmar and for working capital.
6 July 2009capital raising announcement● NeutralMajor
Key launches a 1-for-2 renounceable entitlement offer at $0.11 per share to raise up to $4.87m (up to 43m shares), not underwritten. Proceeds fund the UK oilfields acquired from Midmar and working capital. Follows the UK acquisition announcement.
Key completed the 1-for-2 Loyalty Option issue, with quotation expected 29 August 2007. Management says the rig should resume work at the nearby SS10 well within days before moving to Key's two-well programme.
