Each one in plain English, with the numbers worked through for a shareholder.
21 Aug 2025capital raising announcement● NeutralMajor
Melbana raised about $7m via a placement of 411,764,706 shares at $0.017, a 22.7% discount to the last close. Each share carries a $0.02 one-year option (needs shareholder approval). Funds go to its share of Amistad-2 drilling costs and general purposes, after cash fell to $5.1m.
What it means for a shareholder
412m new shares at A$0.017 to raise about A$7.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (58,824 at the issue price), your slice goes from 0.00175% to 0.00156% of the company. To keep it you'd need 7,187 more shares - about A$122 at the issue price.
16 Mar 2022capital raising announcement▲ GoodMajor
Melbana raised A$15m via a placement of 125m shares at $0.12, a 14.3% discount to the last close of $0.14. Funds go to flow tests, studies, appraisal well planning and team expansion in Block 9. That is far above the 2c September entitlement offer price.
What it means for a shareholder
125m new shares at A$0.120 to raise about A$15.0m. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.000311% to 0.000297% of the company. To keep it you'd need 389 more shares - about A$47 at the issue price.
Entitlement offer closed: 133.5m shares taken up by shareholders, 79.9m applied for as extra shares, leaving 143.1m shortfall shares for the underwriters. The chairman says Melbana is now fully funded for its share of the Cuba wells.
Supplementary prospectus adds disclosure on the 356,438,678 options for sub-underwriters, valued at $0.0013 each (theoretical cost $463,370). Adds disclosure only; offer terms are unchanged.
Prospectus lodged for the 2-for-13 entitlement offer at $0.02 per share, raising up to $7,128,773, with a free option per two shares, fully underwritten by Canaccord. Formal documentation of the offer announced 30 July; non-participants are diluted.
30 July 2021capital raising announcement● NeutralMajor
Melbana is raising up to about $7.13m through a 2-for-13 entitlement offer at 2 cents, with a free option per two shares at 3.5 cents, fully underwritten by Canaccord. About $6.0m is for Cuba drilling. Non-participants are diluted.
Melbana raised A$3.5m through a placement of 194m shares at 1.8 cents, a 14% discount, with one free 3-cent option per three shares. Funds go mainly to Block 9 drilling preparation and Santa Cruz work. Chairman Purcell's participation needs shareholder approval. Contains date typos (2017).
What it means for a shareholder
194m new shares at A$0.018 to raise about A$3.5m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (55,556 at the issue price), your slice goes from 0.0033% to 0.00296% of the company. To keep it you'd need 6,411 more shares - about A$115 at the issue price.
3,141,226 shares were issued at 2 cents on exercise of options from the September 2017 placement, including 2,004,507 to directors (about A$63k in total). The 80m options for Chairman Purcell's loan guarantee were also issued, following the 9 August approval.
15 Dec 2017capital raising announcement● NeutralMajor
Melbana placed 150m shares at 1.4 cents to raise A$2.1m before costs, a 12.5% discount to the last price but 40% above August's entitlement offer. Funds go to Cuba and New Zealand work and working capital.
What it means for a shareholder
150m new shares at A$0.014 to raise about A$2.1m. That's 9.0% dilution: every existing holder's slice gets 9.0% smaller. If you held A$1,000 of shares (71,429 at the issue price), your slice goes from 0.00471% to 0.00429% of the company. To keep it you'd need 7,069 more shares - about A$99 at the issue price.
The entitlement offer settled, with Patersons paying the A$1.898m shortfall. With the earlier placement, Melbana has raised about A$5.2m before costs, for Cuba pre-drilling work (not drilling itself), Pukatea-1 preparation and farm-out efforts. Completes the raising.
Entitlement offer closed with shareholders applying for only 152.2m shares (31%), raising A$1.52m of the possible A$4.84m. Underwriter Patersons must take 189.8m shares (A$1.9m) for the shortfall. Directors may place the remaining shortfall at 1 cent.
Prospectus and acceptance forms for the 1-for-2 entitlement offer at 1 cent were sent to eligible shareholders; the offer is open until 6 September 2017. Administrative despatch of the already announced raising; no new terms.
Letter to eligible shareholders restating the entitlement offer: 1 new share per 2 held at 1 cent. The placement raised A$1,787,332. If fully taken up, shares on issue rise from 953.2m to about 1.61bn. Administrative; no new terms.
Letter telling shareholders with addresses outside Australia, NZ, BVI, Singapore and Canada that they cannot take part in the 1-for-2 entitlement offer at 1 cent, because compliance costs were judged unreasonable. Administrative; no new terms.
Letter to option holders explaining that they can join the entitlement offer only by exercising options before the 18 August 2017 record date. Administrative notice of the already announced raising; no new terms.
Prospectus for the 1-for-2 entitlement offer of up to about 476.6m shares at 1 cent to raise up to about A$4.8m, with free 2-cent options expiring 31 August 2018. Partly underwritten to A$3.42m by Patersons; closes 6 September 2017. Formal document for the announced raising.
What it means for a shareholder
477m new shares at A$0.010 to raise about A$4.8m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.0105% to 0.00699% of the company. To keep it you'd need 49,998 more shares - about A$500 at the issue price.
15 Aug 2017capital raising announcement● NeutralMajor
Melbana is raising up to about A$6.6m at 1 cent a share, a 20% discount to the 15-day average: a A$1.8m placement plus a 1-for-2 entitlement offer of up to A$4.8m, with attaching 2-cent options. Funds go to Cuba drilling preparation, not drilling itself. Significant dilution.
The share purchase plan closed 16 September having raised A$545,000, about half the roughly A$1m targeted. New shares issue 23 September. Funds go to Cuba Block 9 exploration and working capital, bringing the August raise to about A$2.2m with the placement.
ASX granted a waiver letting MEO run its share purchase plan at the same 3.6 cent placement price, with the new shares issued outside the 15% placement capacity. Booklet to follow.
Share purchase plan booklet: eligible holders can buy up to A$15,000 of shares at 3.6 cents (22.9% discount to the 5-day average price) from 25 Aug to 16 Sept 2016. Target about A$1m, not underwritten; all directors intend to take full allocation.
18 Aug 2016capital raising announcement● NeutralMajor
MEO raises about A$1.69m through a placement of about 46.9 million shares at 3.6 cents, a ~17% discount to the 10-day average price. Funds go to Cuba Block 9 drilling planning and working capital; a share purchase plan targeting ~A$1m is to follow.
What it means for a shareholder
46.9m new shares at A$0.036 to raise about A$1.7m. That's 5.0% dilution: every existing holder's slice gets 5.0% smaller. If you held A$1,000 of shares (27,778 at the issue price), your slice goes from 0.00312% to 0.00296% of the company. To keep it you'd need 1,462 more shares - about A$53 at the issue price.
29 Feb 2016capital raising announcement▲ GoodMajor
MEO raised A$1.4m by placing 140,716,573 shares at A$0.01 with London-listed Leni Gas Cuba, which becomes its largest shareholder at 15.8%. Funds go to Cuba Block 9 exploration, lifting cash to about A$5.0m.
What it means for a shareholder
141m new shares at A$0.010 to raise about A$1.4m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.0133% to 0.0112% of the company. To keep it you'd need 18,750 more shares - about A$188 at the issue price.
13 May 2014capital raising announcement● NeutralMajor
The share purchase plan raised A$2,464,476 at 2.0 cents per share, issuing 123,223,800 new shares on 14 May 2014 with 442 holders participating. No shortfall, so the underwriter took no shares. Funds go to the Puka Phase I program.
What it means for a shareholder
123m new shares at about A$0.020 to raise about A$2.5m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00797% to 0.00666% of the company. To keep it you'd need 9,822 more shares - about A$196 at the issue price.
Share purchase plan booklet dated 15 April 2014 sets out terms: up to A$15,000 per holder, issue price at a 20% discount to the 5-day average, closing 7 May. Proceeds fund the Puka farm-in. It restates the already-announced offer.
MEO launched a share purchase plan, underwritten by Patersons to its 15% placement capacity, to raise about A$2.9m to fund the Puka Phase I program. Shares are priced at a 20% discount to the 5-day average price; each holder can apply for up to A$15,000.
19 Nov 2012capital raising announcement▲ GoodMajor
MEO raised A$10.0m from Asian Energy Limited (managed by Noonday), issuing 40,816,327 shares at A$0.245. It fits within the 15% placement capacity and funds production testing at Gurame. This adds a cornerstone investor and dilutes existing holders.
What it means for a shareholder
40.8m new shares at A$0.245 to raise about A$10.0m. That's 6.5% dilution: every existing holder's slice gets 6.5% smaller. If you held A$1,000 of shares (4,082 at the issue price), your slice goes from 0.000696% to 0.000651% of the company. To keep it you'd need 284 more shares - about A$70 at the issue price.
19 Oct 2012capital raising announcement▲ GoodMajor
The share purchase plan raised A$9.3m from 1,181 shareholders, issuing 46.53m new shares on 22 Oct. Implied price is about A$0.20, matching the plan's terms. Funds go to working capital. This resolves the open SPP thread.
What it means for a shareholder
46.5m new shares at about A$0.1999 to raise about A$9.3m. That's 7.9% dilution: every existing holder's slice gets 7.9% smaller. If you held A$1,000 of shares (5,003 at the issue price), your slice goes from 0.000927% to 0.000853% of the company. To keep it you'd need 431 more shares - about A$86 at the issue price.
Share purchase plan booklet and application form: A$0.20 per share, up to A$15,000, closes 12 October, new shares issued 22 October. Repeats the terms already announced; the plan is not underwritten.
