Each one in plain English, with the numbers worked through for a shareholder.
13 June 2025capital raising announcement▲ GoodMajor
Entitlement offer raised about $750,000 at $0.002. Shareholders took up about $498,594 (249.3m shares) and the underwriter will place the roughly 125.4m-share shortfall. Funds the uplift program, now expected to start mid-July. Resolves the open raising.
What it means for a shareholder
249m new shares at about A$0.003 to raise about A$750,000. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (332,400 at the issue price), your slice goes from 0.0312% to 0.0253% of the company. To keep it you'd need 77,891 more shares - about A$234 at the issue price.
Offer closing extended again to 10 June 2025. PAC Partners' maximum underwriting raised again to $436,000 (58.13% of new shares) from $411,000. The text does not give a reason.
Entitlement offer closing date extended by five business days to 3 June 2025 to give shareholders more time. Still seeking up to $750,000 at $0.002. Results now due 6 June.
Offer booklet for the non-renounceable entitlement offer: 1 new share for every 3.89 held at $0.002, raising up to about $0.75m, partially underwritten. It is not a prospectus. Details repeat the 9 May announcement.
Offer booklet dispatched; offer open until 27 May. PAC Partners' maximum underwriting raised to $411,000 (54.80%) from $375,000. Glennon's sub-underwriting is unchanged. Shows less reliance on shareholder take-up.
9 May 2025capital raising announcement● NeutralMajor
Metgasco launches a non-renounceable entitlement offer of up to about $750,000 at $0.002 a share (1 for 3.89), 50% underwritten by PAC Partners. Funds mainly pay the roughly $475k uplift program plus $200k working capital. Glennon sub-underwrites and could reach 24.56%.
25 June 2024capital raising announcement● NeutralMajor
The SPP raised A$743,500 from 148.7m shares at A$0.005, below the A$1.5m target. With the A$1m placement, funds go to Odin-2. Metgasco says it is still assessing additional funding, so further capital needs remain open.
What it means for a shareholder
149m new shares at A$0.005 to raise about A$743,500. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0188% to 0.0165% of the company. To keep it you'd need 27,954 more shares - about A$140 at the issue price.
Cover letter for the placement and share purchase plan already announced on 10 May: about A$1m from ~200m shares at A$0.005, plus up to A$1.5m from shareholders (max A$30,000 each). SPP closes 7 June. Adds 2m broker options at 1c.
What it means for a shareholder
200m new shares at A$0.005 to raise about A$1.0m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0188% to 0.0158% of the company. To keep it you'd need 37,598 more shares - about A$188 at the issue price.
Metgasco raises about A$1m by placing about 200m shares at A$0.005, a 16.7% discount, plus a share purchase plan of up to A$1.5m at the same price. Funds go to the Odin-2 well and working capital. This is far below the 2c placement of October 2022, so existing holders are heavily diluted.
What it means for a shareholder
200m new shares at A$0.005 to raise about A$1.0m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.0188% to 0.0158% of the company. To keep it you'd need 37,598 more shares - about A$188 at the issue price.
11 Oct 2022capital raising announcement● NeutralMajor
Metgasco raises about A$2.7m by placing roughly 135.13m shares at 2c, a 20% discount to the last close, to finish Vali, fund Odin tie-in engineering and Patriot. It says it is now funded to first Vali revenue. Directors contribute about A$100,000.
What it means for a shareholder
135m new shares at A$0.020 to raise about A$2.7m. 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 0.00682% to 0.00576% of the company. To keep it you'd need 9,219 more shares - about A$184 at the issue price.
22 Feb 2022capital raising announcement● NeutralMajor
Metgasco raises A$5.0m via a placement of 192m shares at 2.6c, a 16.1% discount to the last close. Investors get 1-for-3 options at 4.5c expiring 10 Dec 2024, subject to approval. Funds go to Cervantes-1 and the balance sheet.
What it means for a shareholder
192m new shares at A$0.026 to raise about A$5.0m. That's 21% dilution: every existing holder's slice gets 21% smaller. If you held A$1,000 of shares (38,462 at the issue price), your slice goes from 0.00525% to 0.00416% of the company. To keep it you'd need 10,076 more shares - about A$262 at the issue price.
Reminder that eligible shareholders must complete an online form by 29 October to receive their free attaching options. The company says a number of eligible holders have not yet applied. No new terms.
Prospectus lodged for the free attaching options (A$0.031, expiring 31 Dec 2022) for shareholders who joined the July entitlement offer, on a 1-for-3 basis. Offer opens 8 October, closes 29 October; options issued 3 November. Follows the A$4.58m raise.
17 Aug 2021capital raising announcement▲ GoodMajor
The fully underwritten entitlement offer closed raising A$4.58m at A$0.025. Shareholders took up 63.3m shares plus 39.2m via top-up, and underwriters placed 80.7m of the 183.2m offered. The company says it is funded through the rest of 2021.
The A$0.025 entitlement offer close is extended again, from 6 to 13 August 2021, with results now due 18 August. The board notes heavy on-market selling by its former largest shareholder during the offer. Terms and use of funds are unchanged.
Metgasco extends the entitlement offer close from 28 July to 6 August 2021, citing Covid-19 lockdowns in NSW, Victoria and South Australia. Results are now due 11 August. Price (A$0.025) and other terms are unchanged.
6 July 2021capital raising announcement● NeutralMajor
Metgasco launches a fully underwritten 1-for-3 entitlement offer at A$0.025 to raise about A$4.58m, with an attaching option per 3 new shares (strike A$0.031, expiry 31 Dec 2022). Most of the money is for Cooper Basin appraisal and commercialisation (A$2.36m), pipeline infrastructure (A$0.62m) and Cervantes (A$0.83m).
Prospectus for the bonus options offer: one free option for every three shares held, exercise price $0.04, expiring 31 December 2021. Formalises the plan announced on 5 January; no money is raised at issue.
Closing date for the options offer is extended from 2 to 16 November 2020 because COVID-19 postal delays may have held up forms. The AGM is now planned for 10 December, with options issued the next day if approved.
Prospectus for free attaching options (1 for every 3 shares bought in the July placement or SPP), exercise price $0.05, expiring 30 September 2021. Issue needs shareholder approval at the AGM. Completes the options promised in the July raising.
The share purchase plan raised $2.6m (about 104m shares at $0.025) after $3.75m of applications, with $600,000 of oversubscriptions accepted and a roughly 30% scale-back. This adds to the $1.375m placement and funds Vali completion and the Perth Basin.
What it means for a shareholder
104m new shares at A$0.025 to raise about A$2.6m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.00886% to 0.0072% of the company. To keep it you'd need 9,217 more shares - about A$230 at the issue price.
The share purchase plan closing date is extended from 24 August to 4 September 2020 to give shareholders more time. Other terms are unchanged. Funds are for Vali development to meet the Q1 2021 production target.
Offer letter for the share purchase plan at $0.025, up to $30,000 per eligible holder, a 24.5% discount, targeting up to $2m. Attaching options need shareholder approval. Closing date is 24 August, later than the 19 August in earlier notes. Implements the 20 July raising.
20 July 2020capital raising announcement● NeutralMajor
Metgasco raises $1.375m through a placement of 55m shares at $0.025 (24.2% discount), with 1-for-3 options at $0.05. A share purchase plan of $1m, up to $2m, follows at the same price. Funds go to Vali testing and commercialisation, the Perth Basin and working capital.
What it means for a shareholder
55.0m new shares at A$0.025 to raise about A$1.4m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.00886% to 0.0079% of the company. To keep it you'd need 4,874 more shares - about A$122 at the issue price.
30 Oct 2012capital raising announcement▲ GoodMajor
The Share Purchase Plan raised $10.4m, on top of the $10.2m placement at $0.20 and existing cash. Funds go to three lateral CSG wells, three core wells, seismic and Rosella-1. Completes the raising that began in September.
The Share Purchase Plan opens, letting eligible holders buy up to $15,000 of shares at $0.20, about an 18% discount to the five-day average price. Capped at $20m and not underwritten; closes 22 October. Funds go to 3 dual lateral wells and 4 core wells.
Metgasco raised about $10m in a placement at $0.20 per share, plus a Share Purchase Plan for existing holders at the same price. Funds go to lateral CSG wells and licence commitments. Cash was $12.2m at 30 June.
