Past year: ▼ 55%(3.20c – 7.15c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Nov 2018capital raising announcement● Neutral
ASX announcement of the same offer: 1 for 4 at 2 cents, up to $1,424,791, record date 9 November, closing 22 November. Funds go to Amersfoort exploration, offer costs and working capital. Directors' AGM approval sought to issue 50.3m shares for amounts owed.
6 Nov 2018capital raising announcement● NeutralMajor
Prospectus for a 1-for-4 non-renounceable entitlement offer of up to 71,239,542 shares at 2 cents to raise about $1.42m, closing 22 November 2018. Not underwritten. Follows the August 2018 signal of a raising backed by major shareholders.
What it means for a shareholder
71.2m new shares at A$0.020 to raise about A$1.4m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.0175% to 0.014% of the company. To keep it you'd need 12,500 more shares - about A$250 at the issue price.
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15 June 2017capital raising announcement● NeutralMajor
Placement completed, raising $305,000 at 2.5 cents (12.2m shares), a 17% discount to the 3.0 cent close. This closes the placement proposed on 8 May. Funds go to funding talks in South Africa, exploration and working capital.
What it means for a shareholder
12.2m new shares at about A$0.025 to raise about A$305,000. That's 4.8% dilution: every existing holder's slice gets 4.8% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.0165% to 0.0157% of the company. To keep it you'd need 2,013 more shares - about A$50 at the issue price.
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8 May 2017capital raising announcement● NeutralMajor
Kinetiko plans a placement of up to $300,000 (12 million shares at 2.5 cents) from major shareholders for working capital and Afro Energy exploration. It says its loan to Afro is about $2.55m and names IDC and Tosaco Energy as interested funders.
28 Sept 2016capital raising announcement● Neutral
Cleansing prospectus offering 2 shares at 2.5 cents (raising $0.05), issued only to remove trading restrictions on shares from the recent placement. It raises no meaningful money.
15 Sept 2016capital raising announcement● NeutralMajor
Placement raises $850,000 at 2.5 cents per share, a 29% discount to the 3.5 cent close, with a free 3-cent option per share expiring in 24 months. About $246k of loans and $230k of director fees are settled in shares and options, for a total cash benefit of about $1.326m.
3 Sept 2015capital raising announcement● NeutralMajor
Kinetiko raised $584,400 through a placement at 3.5 cents, a 22% discount to the last close, issuing 16,697,138 shares. Funds go to partner negotiations, exploration and working capital. Chairman says the December 2014 raise lasted about 8 months.
What it means for a shareholder
16.7m new shares at about A$0.035 to raise about A$584,400. That's 9.1% dilution: every existing holder's slice gets 9.1% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.017% to 0.0155% of the company. To keep it you'd need 2,846 more shares - about A$100 at the issue price.
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6 Jan 2015capital raising announcement● NeutralMajor
Kinetiko raised $550,000 via convertible notes from sophisticated investors including directors, at 12% interest, converting at $0.03 per share (19.25m shares if fully converted). Funds keep tenements in good standing and provide working capital; conversion needs shareholder approval. Note text gives a 24 May 2014 maturity, likely a typo (inference).
12 Dec 2013capital raising announcement● NeutralMajor
Kinetiko raised about $1.7m via a placement of roughly 11.34m shares at 15 cents, a 22% discount to the 5-day average price. Argonaut was sole lead manager. Funds go to a pilot 5-spot field, core drilling and permit appraisal; the price is below the 18 cents of December 2012.
What it means for a shareholder
11.3m new shares at A$0.150 to raise about A$1.7m. That's 8.2% dilution: every existing holder's slice gets 8.2% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.00522% to 0.0048% of the company. To keep it you'd need 592 more shares - about A$89 at the issue price.
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17 Dec 2012capital raising announcement● NeutralMajor
Kinetiko completed a placement raising about $3m at 18.0 cents per share, a 10.5% discount to the 5-day VWAP, issuing about 16.5 million shares. Proceeds will fund pilot and core hole drilling at Amersfoort, structural studies, preliminary appraisal of its TCPs and working capital.
What it means for a shareholder
16.5m new shares at about A$0.1818 to raise about A$3.0m. That's 21% dilution: every existing holder's slice gets 21% smaller. If you held A$1,000 of shares (5,500 at the issue price), your slice goes from 0.00906% to 0.00712% of the company. To keep it you'd need 1,495 more shares - about A$272 at the issue price.
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15 June 2011capital raising announcement● NeutralMajor
Kinetiko's IPO prospectus offers up to 40 million shares at 20 cents to raise $8 million, with up to $2 million more in oversubscriptions. It is a coal bed methane explorer, and the prospectus calls the investment speculative.
What it means for a shareholder
40.0m new shares at A$0.200 to raise about A$8.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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