20 Jan 2014other● Neutral
Top 20 holders own 88.72% of shares. Risco Energy Unconventional holds 47.03% and Tower Energy Indonesia 14.36%. Brimage's Pouvoir has 4.65%. There are 2,074 holders in total.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Jan 2014listing compliance notice▲ GoodMajor
ASX will reinstate Lion's shares to quotation on 22 January 2014, with 73,591,805 shares quoted, after it met Chapters 1 and 2. This ends the suspension that began 12 December 2013.
20 Jan 2014other● Neutral
Registry confirms holding locks on escrowed securities: 21,437,572 shares and 4,072,917 options restricted, from a total of 85,029,377 shares. Administrative confirmation.
20 Jan 2014other● Neutral
Lion confirms no material subsequent events and listing rule compliance. It sets out capital structure of 95,029,377 shares and 3,666,667 options expiring July 2015 plus 406,250 expiring January 2017 issued to Halcyon. Compliance paperwork.
16 Jan 2014director officer appointment● NeutralMajor
Kim Morrison became CEO, with Chris Newton and Tom Soulsby as non-executive directors, from 10 January 2014. Weidong Zhang and Simon Reeve step down on 16 January. The public offer closed with 10m shares issued at 20c. Reinstatement update due the week of 20 January.
13 Jan 2014other● Neutral
Brimage's holding rose to 4,428,329 shares and 229,167 options after the transactions. He received 350,695 shares for cancelled options and 550,000 shares at 20c plus options under the fee payment agreement. Routine director notice.
13 Jan 2014capital raising announcement▲ GoodMajor
Lion issued 69,028,361 shares and 3,666,667 options at 26c on 10 January 2014, completing the Risco/Tower placements at 20c (37.5m shares), the A$1.5m loan conversion, and the KRX and AMI acquisitions. Also 1,835,041 shares for cancelling 88.1m old options.
23 Dec 2013other● Neutral
Director Russell Brimage's holding fell to 3,527,634 shares and 2,104,167 options on the 1-for-8 consolidation, with nothing bought or sold. Routine director interest notice.
23 Dec 2013security holder rights change● Neutral
After the 1-for-8 consolidation, Lion has 16,001,016 shares and 11,345,047 options at 24c, expiring 31 December 2013. Holders who accepted the option cancellation offer cannot exercise. Holding statements go out 31 December.
12 Dec 2013listing compliance notice● NeutralMajor
At Lion's request, its shares and options were suspended from 12 December 2013 pending the general meeting on the change of activities. They stay suspended until Lion completes the transactions and re-complies with ASX Chapters 1 and 2.
12 Dec 2013agm notice▲ GoodMajor
All 14 resolutions at the 12 December general meeting passed on a show of hands, with proxy votes heavily in favour. This clears the 8-to-1 consolidation and the Risco, Tower and KRX transactions, resolving the main open thread.
28 Nov 2013admin correction● Neutral
Clarifies the consolidation timetable from the notice of meeting: record date 20 December 2013, despatch 31 December. No change to the substance of the transactions.
28 Nov 2013agm notice● Neutral
Both AGM resolutions, the remuneration report and Russell Brimage's re-election, passed on a show of hands. Routine annual meeting business, separate from the 12 December transaction meeting.
18 Nov 2013security holder rights change● Neutral
Notice to holders that the 3c listed options expire 31 December 2013 unless exercised. Last share price was 2.5c, below the 3c exercise price. Quotation of the options ends 20 December. Ties to the option cancellation offer of 1 share per 48 options.
6 Nov 2013capital raising announcement● Neutral
Replacement prospectus reissued 6 November to move detail out of Section 3 into later sections. Terms unchanged: 10m shares at 20c to raise A$2m, plus up to 1,890,831 shares for cancelling listed options. Conditional on the 12 December meeting approving the 8-to-1 consolidation.
6 Nov 2013capital raising announcement● Neutral
Replacement application form for the A$2m public offer at 20c per share. Closing date is now 16 December 2013, extended from 27 November. Form only; no new substantive information.
6 Nov 2013agm notice● Neutral
Replacement notice for the 12 December general meeting, superseding the 5 November one and updating the prospectus lodgement date to 6 November. Phone numbers changed. Timetable and expert conclusions are unchanged; no new substance.
5 Nov 2013agm notice● NeutralMajor
Notice of general meeting on 12 December 2013 to approve the Risco/Tower/KRX transactions and the consolidation. The independent expert finds the Resolution 3 transaction fair and reasonable, and Resolutions 5, 7 and 9 not fair but reasonable. Trading reinstatement targeted 22 January 2014.
31 Oct 2013quarterly activities report● Neutral
September quarter: Seram output 229,903 barrels (2,499 bopd), marginally down on well downtime. A 325,062-barrel lifting netted Lion US$750,013 in October. Recaps the Risco/Tower transactions, with the prospectus lodged 22 October and an Extraordinary General Meeting around 2 December. Seram appraisal well to follow Lofin-1 committed.
31 Oct 2013quarterly activities report● Neutral
Cash rose to A$143k from A$122k, helped by A$750k borrowed against A$260k lent out. The Seram lifting proceeds of about US$750,000 arrived in October, after quarter end. Next-quarter outflow estimated at A$700k; A$1.4m of facilities used.
23 Oct 2013capital raising announcement● NeutralMajor
Lion's re-compliance prospectus offers 10m shares at 20c to raise A$2m, plus up to 1,890,831 shares for cancelling listed options (1 per 48). Conditional on a general meeting around 2 December 2013 approving the 8-for-1 consolidation and the Risco deal.
23 Oct 2013agm notice● Neutral
Notice of the annual general meeting on 28 November 2013 in West Perth. Shareholders vote on the remuneration report (advisory) and the re-election of Chairman Russell Brimage. Routine business, separate from the Risco transaction meeting.
23 Oct 2013capital raising announcement● Neutral
Application form for the A$2m public offer of shares at 20c, closing 27 November 2013. Minimum application is 10,000 shares (A$2,000). A form only; no new facts beyond the 22 October prospectus.
1 Oct 2013other● Neutral
Lion lodged a revised policy on trading in company securities. Administrative notice with no bearing on the company's operations or deals.
25 Sept 2013investor presentation● Neutral
Investor presentation titled 'Recapitalised, Reskilled & Repositioned' pitching Lion's Indonesian unconventional strategy. A prospectus is expected around 8 October 2013. Repeats the 25 September transaction terms; no new facts in the text provided.
25 Sept 2013material agreement▲ GoodMajor
Lion signed formal agreements for the Risco/Tower deal, restated post a 1-for-8 share consolidation: A$7.5m placements at 20c (Risco A$6m, Tower A$1.5m), A$2m public offer, KRX buyout for 11.6m shares, and the A$1.5m convertible loan. Replaces the June pre-consolidation terms.
25 Sept 2013investor presentation● Neutral
Notice that proposed MD/CEO Kim Morrison will present at the Proactive Investors forum in Sydney on 2 October 2013. Promotional only, no new information.
17 Sept 2013annual report▼ Bad
Annual report for year to 30 June 2013: loss A$2,760,313 (2012: A$2,606,910), no dividend. Recaps Lofin-1 results and the KRX funding. The text provided does not cover the June 2013 Risco deal beyond the directors' report excerpt.
31 July 2013quarterly activities report▼ Bad
June quarter cash report: cash fell to A$122k from A$261k, with A$900k borrowed and A$750k lent out to KRX. Next-quarter outflow estimated at A$900k, up from A$550k. Thin cash continues to depend on new funding.
31 July 2013quarterly activities report● Neutral
June quarter: Seram output 229,206 barrels (2,519 bopd), up from 208,836. The 30 May lifting netted Lion US$683,961. Recaps the Risco/KRX deal and July additions; Oseil-15 development well spudded 1 May. No new substantive events.