Past year: ▲ 0%(1.00c – 1.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 May 2024capital raising announcement● NeutralMajor
Lion raised A$1.6m through convertible notes from three of its largest shareholders, to fund the Port of Brisbane project. Notes carry no interest, mature 31 December 2025 and convert at 2.7c a share. Follows cash of US$2.04m at December 2023.
13 Dec 2021capital raising announcement● Neutral
Prospectus offers 75,000,000 quoted options at A$0.12, expiring 30 months from issue, closing 17 January 2022. These are the options attached to the November 2021 A$9.6m raise. Offer document only; no new money is raised by it.
17 Nov 2021capital raising announcement▲ GoodMajor
Lion has firm commitments for A$9.6m at 8c a share, following April's 3.0c raise: A$6.1m placement, A$3.375m convertible notes (12% interest, due Dec 2022) and A$125k from directors. Each share gets a 1:2 option at 12c, subject to shareholder approval. Funds go mainly to hydrogen and working capital.
29 June 2021capital raising announcement● Neutral
Prospectus offers 104,463,811 quoted options at A$0.04 exercise price, two-year expiry, closing 12 July 2021. Follows the April raise at 3.0c, whose options needed shareholder approval. Offer documents only; no new money is raised by the prospectus text shown.
23 Apr 2021capital raising announcement● NeutralMajor
Lion raised A$2.8m at 3.0c per share, with a 1:1 option at 4.0c: A$933k placement, A$1.517m convertible notes (12%, due 31 Dec 2021) and A$350k from directors, the latter two needing shareholder approval. It also starts exploring green hydrogen, a new direction beyond oil and gas.
8 June 2018capital raising announcement● NeutralMajor
Lion raised A$3.09m at 3.5c per share. A placement of 24.2m shares (A$848,500) comes first. Convertible loans from Risco (A$1.32m) and KL Trio (A$921,000) follow, convertible at 3.5c subject to shareholder approval. Risco would hold about 43.5%.
21 Dec 2016capital raising announcement● Neutral
Only A$50,000 of the extra funds was actually received, so the total placement is A$650,000, not the A$700,000 announced on 9 December. This corrects the earlier figure.
9 Dec 2016capital raising announcement▲ Good
Lion accepted a further A$100,000 of shares from sophisticated investors, lifting the placement announced 6 December from A$600,000 to A$700,000. No issue price is stated.
6 Dec 2016capital raising announcement▲ GoodMajor
Lion raised A$600,000 before costs from sophisticated investors and management; no issue price is stated. Amanah Timur-1 (Lion 40.7%) is now due to spud 12 December. A Seram lifting of at least 500,000 bbl is expected to bring about US$450,000 net to Lion.
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.
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.
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 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.
17 June 2013capital raising announcement● NeutralMajor
Lion signed binding deals with KRX and Risco: a A$1.5m convertible loan, a A$2.5m placement of 100m shares to Risco (2.5c each), up to 80m shares to investors, and 39.9m shares for Risco's AMI interest. Lion also plans to buy the rest of KRX for 93m shares. Risco could reach about 48%. The earlier terms sheet lapsed.
26 Oct 2012capital raising announcement● Neutral
Lion paid the final A$580,000 of its A$1m firm commitment to KRX at 5c per share, lifting its stake to 30.77%. Completes the funding begun in June. The text says KRX's initial South China Sea bid was unsuccessful.
26 June 2012capital raising announcement● Neutral
Lion paid the first A$420,000 of its A$1m KRX commitment for 8,400,000 KRX shares at 5c, giving it 15.73% of KRX. Continues the 18 June KRX agreement; the remaining funding is still to come.
13 Mar 2012capital raising announcement● Neutral
4,000,000 free 3c options were issued to the underwriter's nominees, as approved on 17 February. This finishes the rights issue paperwork. Shares on issue are stated as 101,273,309, which follows the buy-back; 3c options are 58,328,034.
14 Feb 2012capital raising announcement● Neutral
The final 12,500,000 shortfall shares were issued to the underwriter at 2c, completing the rights issue. Shares on issue are 163,001,726 and 3c options 54,333,909. The underwriter's fee options are still to be issued.
3 Feb 2012capital raising announcement● Neutral
The underwriter took up 35,902,293 rights issue shortfall shares at 2c, with matching free 3c options. This is part of the 48.4m-share shortfall. Shares on issue rise to 150,501,726.
19 Jan 2012capital raising announcement● Neutral
5,931,616 rights issue shares issued at 2c with free 3c options expiring 31 December 2013. Shares on issue now 114,599,433, including the 14.17m December placement. Shortfall shares still to be allotted.
16 Jan 2012capital raising announcement● Neutral
Rights issue closed weak: holders took up only 5,931,616 of 54,333,909 shares. The remaining 48,402,293 shortfall shares fall to underwriter Pendulum Capital, so the raising is still expected to complete.
9 Dec 2011capital raising announcement● Neutral
Cover announcement for the rights issue letter to shareholders to be mailed 12 December. No substantive content in the text provided.
8 Dec 2011capital raising announcement● NeutralMajor
Lion offers a 1-for-2 rights issue at 2 cents, up to 54,333,909 shares to raise about $1.09m, with a free attaching option per share. Pendulum Capital underwrites and receives 4,000,000 fee options. Share price was about 3c in mid-2011.
What it means for a shareholder
54.3m new shares at about A$0.0201 to raise about A$1.1m. That's 47% dilution: every existing holder's slice gets 47% smaller. If you held A$1,000 of shares (49,848 at the issue price), your slice goes from 0.0818% to 0.0432% of the company. To keep it you'd need 44,457 more shares - about A$892 at the issue price.
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27 Aug 2008capital raising announcement● NeutralMajor
Lion issued 33,571,400 shares at 6c on 27 August 2008, raising about $2.01m of the up to $3.66m sought. Shares on issue rise to 94.49m, with 31m options expiring August 2011.
What it means for a shareholder
33.6m new shares at A$0.060 to raise about A$2.0m. That's 36% dilution: every existing holder's slice gets 36% smaller. If you held A$1,000 of shares (16,667 at the issue price), your slice goes from 0.0274% to 0.0176% of the company. To keep it you'd need 9,184 more shares - about A$551 at the issue price.
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22 Aug 2008capital raising announcement● Neutral
The rights issue closed with acceptances for 33.57m shares, or $2.01m, against the up to $3.66m sought. 27.35m shares were left unsubscribed.
5 Aug 2008capital raising announcement● Neutral
Prospectus and entitlement forms for the 1-for-1 rights issue at 6c, up to about $3.66m, were posted on 5 August 2008. Administrative; no new terms.
17 July 2008capital raising announcement● Neutral
Administrative notice that rights issue letters were posted to shareholders, one version for Australia and New Zealand holders and one for others. No new terms.
15 July 2008capital raising announcement● NeutralMajor
Lion launched a 1-for-1 non-renounceable rights issue of up to 60.9m shares at 6c, raising up to about $3.66m. Closes 19 August 2008. This follows the A$2.1m director loan used for the Papua Petroleum stake; use of funds is not shown in the extract.
20 Oct 2006capital raising announcement▲ GoodMajor
The full 3,046,124,356 rights issue shares were issued on 20 October 2006, doubling shares on issue to 6,092,248,712. This completes the $10.66m raise to fund the Gulf of Mexico push.
