Each one in plain English, with the numbers worked through for a shareholder.
3 May 2022capital raising announcement▲ Good
Share Purchase Plan closed with $3,324,420 of applications, all accepted without scale-back. This issues 100,739,902 shares at 3.3c on 6 May 2022, taking the total raising to about $18.6M.
What it means for a shareholder
101m new shares at A$0.033 to raise about A$3.3m. That's 1.5% dilution: every existing holder's slice gets 1.5% smaller. If you held A$1,000 of shares (30,303 at the issue price), your slice goes from 0.000459% to 0.000452% of the company. To keep it you'd need 462 more shares - about A$15 at the issue price.
Formal Share Purchase Plan offer booklet sent to eligible shareholders, opening 13 April and closing 29 April 2022. It offers $5,000-$30,000 of shares at 3.3c, aiming for about $3M. Repeats the previously announced terms.
Share Purchase Plan timetable updated: offers of $5,000-$30,000 at 3.3c, aiming for up to $3M (about 91M shares). Closing moves to 29 April 2022, with shares issued 6 May. Terms otherwise unchanged.
Norwest raises about $15M through a placement of up to 465.5M shares at 3.3c (13.2% discount), with Mineral Resources participating, plus a Share Purchase Plan of up to $3M. Funds go to Lockyer Deep completion, seismic and appraisal drilling targeting October 2022.
What it means for a shareholder
466m new shares at A$0.033 to raise about A$15.0m. That's 7.0% dilution: every existing holder's slice gets 7.0% smaller. If you held A$1,000 of shares (30,303 at the issue price), your slice goes from 0.000493% to 0.000459% of the company. To keep it you'd need 2,297 more shares - about A$76 at the issue price.
30 Aug 2021capital raising announcement▲ GoodMajor
Completed a placement of up to 343.75 million shares at 0.8c to raise up to $2.75 million, significantly oversubscribed, with the four largest holders (Mineral Resources ~19.7%) taking part. Funds production testing, seismic and working capital.
What it means for a shareholder
344m new shares at A$0.008 to raise about A$2.8m. That's 6.3% dilution: every existing holder's slice gets 6.3% smaller. If you held A$1,000 of shares (125,000 at the issue price), your slice goes from 0.00244% to 0.00229% of the company. To keep it you'd need 8,393 more shares - about A$67 at the issue price.
19 Jan 2021capital raising announcement▲ GoodMajor
Raised $2 million via placement of 333,333,340 shares at 0.6c, with the top three shareholders (Mineral Resources c.17.0%, 3C c.7.8%, Sundowner c.5.7%) taking part. Funds Norwest's 20% share of Lockyer Deep-1; rig slot timing still under discussion.
What it means for a shareholder
333m new shares at A$0.006 to raise about A$2.0m. That's 6.6% dilution: every existing holder's slice gets 6.6% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.00352% to 0.00329% of the company. To keep it you'd need 11,734 more shares - about A$70 at the issue price.
The share purchase plan closed with $795,100 raised, above the roughly $500k target, with no scale-back. Combined with the $3.3M placement, it funds the Lockyer Deep-1 well in H1 2020. Completes the November raising.
Share purchase plan offer letter: eligible holders can buy $2,000-$30,000 of shares at 0.35c, a 22.3% discount to the 5-day average. The placement was increased to $3.3M, with the plan targeting $500k. Directors intend to put in up to $60,000 in the placement.
11 Nov 2019capital raising announcement▲ GoodMajor
Norwest raised A$3.25M via a placement at 0.35c per share with one free 0.6c option per two shares, plus a share purchase plan of up to $500k. Funds its full 20% share of the H1 2020 EP368 well. Sundowner loan to be partly repaid ($750k) and $250k converted.
13 Feb 2018capital raising announcement▲ GoodMajor
Joint venture partner 3C Group raised its holding to 9.9% by exercising 60m options and taking 66.5m more shares, all at 0.24c. Together this brings in about A$304k, for seismic, Xanadu wells, Lockyer Deep planning and Jingemia. This uses the rights from its February 2017 deal.
17 Oct 2017capital raising announcement● NeutralMajor
Norwest has commitments for a placement of up to about 250 million shares at 0.4c to raise up to $1 million. It funds Xanadu appraisal and the Lockyer Deep-1 well, but needs shareholder approval at the late-November AGM, with shares issued around 6 December.
What it means for a shareholder
250m new shares at A$0.004 to raise about A$1.0m. That's 7.7% dilution: every existing holder's slice gets 7.7% smaller. If you held A$1,000 of shares (250,000 at the issue price), your slice goes from 0.00832% to 0.00768% of the company. To keep it you'd need 20,795 more shares - about A$83 at the issue price.
Norwest raised A$1.046 million at 0.32c: $510,000 from the share purchase plan and $536,000 from a placement. Malaysia-based Tamarind Classic Resources took $475,000 of the placement. Shares are due to be allotted 4 August 2017.
The share purchase plan closing date is extended two weeks to 28 July 2017, giving shareholders time to weigh the Xanadu-1 spud date. Price stays at 0.32c; allotment moves to 4 August.
Offer booklet for the $1 million share purchase plan at 0.32c, up to $15,000 per holder, closing 14 July 2017. Sets out terms and the same use of funds; no new information beyond the 19 June announcement.
19 June 2017capital raising announcement● NeutralMajor
Norwest offers a share purchase plan to raise $1 million at 0.32c, a 20% discount to the five-day average price. Funds go to the EP368/EP426 well, Jingemia restart, Norwest's TP/15 share after Xanadu, and working capital. A placement at the same price is possible.
First tranche of the July placement completed: 100m shares to Transerv and 115m to other investors, raising $430,000. A further $400,000 from directors and a related party awaits a late-August shareholder meeting; total is $830,000, up from the $800,000 first announced.
What it means for a shareholder
100m new shares at about A$0.0043 to raise about A$430,000. That's 4.6% dilution: every existing holder's slice gets 4.6% smaller. If you held A$1,000 of shares (232,558 at the issue price), your slice goes from 0.0113% to 0.0108% of the company. To keep it you'd need 11,341 more shares - about A$49 at the issue price.
11 July 2016capital raising announcement▲ GoodMajor
Norwest forms a strategic alliance with Transerv Energy to farm out Xanadu and its Perth Basin permits. It raises $800,000 at 0.2c, including $200,000 from Transerv for 100m shares. Directors' shares need shareholder approval. Shelley Robertson is appointed CEO, replacing Munachen.
Entitlement offer completed with 410,114,395 shares allotted. Issued capital is now 2,050,569,394 shares. Rey Cattamarra holds 53,056,027 (2.59%). Closes the December raise.
Entitlement offer closed with applications for only 98.9m shares, plus 37.7m shortfall shares, raising $273,306. Underwriter Argonaut will take the remaining 273.5m shares, so about $820,000 is still raised. Shareholder take-up was weak.
Offer document and entitlement forms dispatched to eligible shareholders; the offer opens today and closes 21 December. Administrative timetable update.
The entitlement offer is revised the same day: price cut to 0.2c from 0.25c, ratio changed to one new share for every four held, still raising $820,228. The placement stays at 0.25c, with total about $1.32m.
2 Dec 2015capital raising announcement● NeutralMajor
Norwest plans to raise about $1.32m: a $500,000 placement of 200m shares at 0.25c, plus an underwritten entitlement offer of about $820,228, both via Argonaut. Funds are to bring Lockyer Deep-1, Xanadu-1 and Arrowsmith-3 towards drill-ready status. The raise price is below June's 0.4712c.
What it means for a shareholder
200m new shares at A$0.0025 to raise about A$500,000. That's 9.2% dilution: every existing holder's slice gets 9.2% smaller. If you held A$1,000 of shares (400,000 at the issue price), your slice goes from 0.0203% to 0.0184% of the company. To keep it you'd need 40,639 more shares - about A$102 at the issue price.
5 June 2015capital raising announcement▲ GoodMajor
The placement is completed, raising $500,000 at 0.4712c: 53,056,027 shares to Rey (about 3.68% post-placement) and a further 53,056,027 to Patersons' clients. Funds go to working capital. Follows the March share purchase plan at the same price.
What it means for a shareholder
53.1m new shares at about A$0.0094 to raise about A$500,000. That's 3.8% dilution: every existing holder's slice gets 3.8% smaller. If you held A$1,000 of shares (106,112 at the issue price), your slice goes from 0.00795% to 0.00765% of the company. To keep it you'd need 4,219 more shares - about A$40 at the issue price.
25 Mar 2015capital raising announcement● NeutralMajor
The share purchase plan closes with $1.0m raised, plus an $80,000 top-up placement, at 0.4712c per share, with about 229m new shares to be issued. Farm-out discussions continue. Completes the raising launched in February.
The share purchase plan closing date is extended to 18 March 2015 to give overseas shareholders time to apply; the issue date moves to 25 March. No other terms change.
Offer document sent to eligible shareholders for the $1m share purchase plan announced the day before; up to $15,000 each, price set at a 20% discount to the 5-day average. Administrative follow-up with no new terms.
23 Feb 2015capital raising announcement● NeutralMajor
Norwest launches a $1m share purchase plan, underwritten by Patersons, priced at a 20% discount to the 5-day average price. Funds go to Arrowsmith-3 planning, Xanadu planning and working capital. Directors will participate; Norwest says its share of the EP413 3D seismic is already funded.
30 Aug 2013capital raising announcement▲ GoodMajor
The share purchase plan took up 95.46m shares at 3c, raising $2.86m (80% take-up). Norwest also placed 33.33m shares at 3c to sophisticated investors for $1.0m. Total about $3.86m, funding exploration and working capital, following the 3c offer and adding to the December cash of $4.28m.
What it means for a shareholder
95.5m new shares at A$0.030 to raise about A$2.9m. That's 8.9% dilution: every existing holder's slice gets 8.9% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00342% to 0.00312% of the company. To keep it you'd need 3,266 more shares - about A$98 at the issue price.
5 Aug 2013capital raising announcement● NeutralMajor
Norwest offers eligible shareholders a share purchase plan of up to 120 million shares at 3 cents, raising up to $3.6m, with up to $15,000 each. Funds go to exploration and working capital. The price is below the 5c SPP of mid-2012; it would dilute holders who do not take part.
What it means for a shareholder
120m new shares at A$0.030 to raise about A$3.6m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00342% to 0.00305% of the company. To keep it you'd need 4,105 more shares - about A$123 at the issue price.
19 July 2012capital raising announcement▲ GoodMajor
The share plan raised 62.6m shares from shareholders at 5c; the 37.4m-share shortfall was placed with Hartleys and Patersons clients. That totals the full 100m shares, about $5m at 5c (calculated from the offer terms), lifting shares on issue to roughly 974m.
What it means for a shareholder
62.6m new shares at A$0.050 to raise about A$5.0m. That's 6.7% dilution: every existing holder's slice gets 6.7% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00229% to 0.00213% of the company. To keep it you'd need 1,432 more shares - about A$72 at the issue price.
