Past year: ▲ 850%(0.20c – 3.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Aug 2011capital raising announcement▲ GoodMajor
The SPP raised $15.3m at $0.26, which with the $6.25m placement gives over $21m of new funding. Money goes to gas commercialisation, CSG drilling for NSW work commitments, Rosella E01 and working capital. Resolves the open SPP thread.
19 July 2011capital raising announcement● Neutral
SPP closing date extended to 26 July after shareholder requests; allotment moves to 10 August. Non-executive directors will take up their full entitlements, and MD Henderson bought 300,000 shares on market at $0.305. The placement issued 23,846,153 shares.
What it means for a shareholder
300,000 new shares at A$0.305 to raise about A$91,500. That's 0.108% dilution: every existing holder's slice gets 0.108% smaller. If you held A$1,000 of shares (3,279 at the issue price), your slice goes from 0.00119% to 0.00119% of the company. To keep it you'd need 4 more shares - about A$1 at the issue price.
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20 June 2011capital raising announcement● Neutral
Share purchase plan launched at $0.26, up to $15,000 per holder, capped at $21m in total; the price is about 11.5% below the five-day average. Closes 21 July. Funds go to Casino gas and 6MW power, PEL 13/426 drilling and Rosella E01. Follows the $6.25m placement.
17 June 2011capital raising announcement● NeutralMajor
Metgasco raised about $6.25m via a placement at $0.26 a share, well below the $0.45 plan price of 2010, with a share purchase plan of up to $15,000 per holder at the same price. Funds go to local gas supply, a 6MW first stage of the power station, PEL 13/426 drilling and the Rosella E01 well. Trading resumes.
7 Dec 2009capital raising announcement▲ GoodMajor
The Share Purchase Plan was oversubscribed by 44%, with applications over $36m against the $25m cap, so applications will be scaled back. Shares are to be allotted on 10 December.
4 Nov 2009capital raising announcement▲ GoodMajor
Metgasco launched a Share Purchase Plan letting shareholders buy up to $15,000 each at $0.45, about 13.5% below the recent average price, capped at $25m and not underwritten. Funds go to accelerated exploration, appraisal and development after the Molopo deal. Closes 3 December.
30 Apr 2009capital raising announcement▲ GoodMajor
Rights offer was 41% oversubscribed; 19,159,142 shares allotted on 30 April. Applications for extra shares were scaled back. This completes the roughly $15.7m raising.
27 Apr 2009capital raising announcement▲ Good
The $7.7m rights offer closed on 24 April and was fully subscribed, with allotment due 30 April. Completes the funding secured by underwriting.
14 Apr 2009capital raising announcement● Neutral
Timetable for the rights offer: closes 24 April, allotment 30 April, normal trading of new shares from 1 May, holding statements 4 May. Administrative.
3 Apr 2009capital raising announcement● Neutral
Rights offer booklet dispatched: one new share per eight held at $0.40 to raise about $7.7m, closing 24 April 2009. The price is a 23% discount to the five-day average price to 11 March. Proceeds fund reserve drilling, power station, pipeline and working capital.
3 Apr 2009capital raising announcement● Neutral
Managing director's letter appoints Bell Potter as lead manager and underwriter for up to $6.6m of the $7.7m rights offer; the remaining $1.1m is directors' entitlements. The underwriting can be terminated on events such as material market disruption.
3 Apr 2009capital raising announcement▲ Good
The $7.7m rights offer is fully secured: directors commit $1.1m and Bell Potter underwrites up to $6.6m. With the $8m placement, $15.7m is raised before costs. Part funds further Kingfisher appraisal drilling.
23 Mar 2009capital raising announcement● Neutral
Letter telling shareholders outside Australia and New Zealand they cannot take part in the $0.40 rights offer (about $7.7m), citing compliance costs. Record date is 30 March 2009. Administrative.
17 Mar 2009capital raising announcement▲ GoodMajor
Raised about $8m via a placement of 19,992,000 shares at $0.40, plus a 1-for-8 rights offer of up to $7.7m at $0.40. Funds are for CSG production drilling, Kingfisher appraisal, pipeline work and working capital. This follows the 1P reserve milestone.
What it means for a shareholder
20.0m new shares at A$0.400 to raise about A$8.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (2,500 at the issue price), your slice goes from 0.00188% to 0.00163% of the company. To keep it you'd need 375 more shares - about A$150 at the issue price.
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17 Mar 2009capital raising announcement● NeutralMajor
Metgasco raises $8.0m via a 19.9m-share placement at $0.40, plus a 1-for-8 rights issue at $0.40 for up to $7.6m. Funds go to CSG reserve drilling, Kingfisher appraisal, the power station and pipeline, and working capital. Price is well below the $0.58 shown in November 2008.
6 May 2008capital raising announcement● NeutralMajor
The share plan closed with $2.6m raised from 3,777,226 shares at $0.70. A further 6,666,667 shares were placed with institutions at $0.75 to raise $5m, taking the total to $7.6m. Funds go to reserve development and pilot testing.
What it means for a shareholder
3.8m new shares at A$0.700 to raise about A$2.6m. That's 3.0% dilution: every existing holder's slice gets 3.0% smaller. If you held A$1,000 of shares (1,429 at the issue price), your slice goes from 0.00117% to 0.00114% of the company. To keep it you'd need 44 more shares - about A$31 at the issue price.
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31 Mar 2008capital raising announcement● NeutralMajor
Metgasco offers eligible shareholders a Share Purchase Plan of $1,000 to $5,000 each at $0.70 a share, a 9.6% discount to the five-day average price. Funds go to expanding exploration, gas commercialisation and working capital. It closes 24 April 2008.
29 Mar 2007capital raising announcement▲ GoodMajor
Metgasco placed 15,576,923 shares at 78 cents to raise $12.15 million, about 15% of capital, from mainly Australian institutions. Funds go to energy infrastructure, more drilling and working capital, adding to the $0.32 share plan earlier.
What it means for a shareholder
15.6m new shares at A$0.780 to raise about A$12.2m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,282 at the issue price), your slice goes from 0.00123% to 0.00107% of the company. To keep it you'd need 192 more shares - about A$150 at the issue price.
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22 Dec 2006capital raising announcement▲ GoodMajor
The share purchase plan closed heavily subscribed, with applications for over $4 million. It raised $4,266,500 by issuing 13,332,819 shares at $0.32, with about 72% of shareholders taking up the offer.
What it means for a shareholder
13.3m new shares at A$0.320 to raise about A$4.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (3,125 at the issue price), your slice goes from 0.00344% to 0.003% of the company. To keep it you'd need 459 more shares - about A$147 at the issue price.
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4 Dec 2006capital raising announcement● Neutral
Formal share purchase plan offer letter and terms: up to $5,000 per holder at $0.32, closing 15 December, $2 million underwritten by Taylor Collison. Directors intend to take up their maximum. Repeats the 28 November price announcement.
28 Nov 2006capital raising announcement▲ Good
Share purchase plan price set at $0.32, an 11% discount to the 5-day average price. Taylor Collison underwrites up to $2 million, so at least that much is backed, resolving the previously unstated size.
13 Nov 2006capital raising announcement● NeutralMajor
Share purchase plan lets existing shareholders buy up to $5,000 of shares at a 10% discount to market price, with the price set on 28 November. Funds go to reserve drilling, power station assessment and working capital. No total raise size is stated.
11 Sept 2006capital raising announcement● NeutralMajor
Placement of 11,775,000 shares at 20 cents raised $2.355m, about 15% of capital, well below the 30 cent price of the October 2005 raise. Funds go to drilling to expand 2P reserves toward 100 PJ and to working capital.
What it means for a shareholder
11.8m new shares at A$0.200 to raise about A$2.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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