Past year: ▲ 0%(1.00c – 1.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 Oct 2006capital raising announcement● NeutralMajor
Rights issue closed raising only $1,729,526 from 494,150,166 shares taken up by shareholders. The remaining 2,551,974,190 shares (about $8.9m at 0.35c) fall to the underwriter or sub-underwriters, as the offer is fully underwritten.
25 Sept 2006capital raising announcement● Neutral
Lion has despatched the rights issue prospectus and entitlement forms, offering one new share per share held at $0.0035. Administrative notice only.
11 Sept 2006capital raising announcement● Neutral
Shareholder letter on the underwritten rights issue: up to 3.05bn shares at 0.35c to raise up to $10.66m, closing 10 October, underwritten by Intersuisse for $446,714. It would lift shares on issue from 3.05bn to 6.09bn.
What it means for a shareholder
3.05bn new shares at A$0.0035 to raise about A$10.7m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (285,714 at the issue price), your slice goes from 0.00469% to 0.00313% of the company. To keep it you'd need 143,039 more shares - about A$501 at the issue price.
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11 Sept 2006capital raising announcement● NeutralMajor
Prospectus for a one-for-one rights issue at $0.0035 per share, raising up to about $10.66m, to fund Lion's share of drilling five Gulf of Mexico leases. This is a strategy shift towards US exploration, with an independent report supporting the prospects.
