Each one in plain English, with the numbers worked through for a shareholder.
30 May 2008capital raising announcement● NeutralMajor
The private placement announced May 12 closed on May 23, 2008: 12,976,761 shares at US$4.20 for about US$54.5 million, with TD Securities as lead agent and US$1,225,120 in fees. Shares were sold to non-U.S. persons and are unregistered.
What it means for a shareholder
13.0m new shares at US$4.20 to raise about US$54.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
12 May 2008capital raising announcement● NeutralMajor
On May 12, 2008 the company announced commitments for a private placement of 12,976,761 shares at $4.20, about $54.5 million, expected to close around May 28, 2008 subject to American Stock Exchange approval.
What it means for a shareholder
13.0m new shares at $4.20 to raise about $54.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
On December 5, 2007 the company closed a marketed public offering of units (shares plus warrants) and signed a Warrant Indenture with Computershare. It issued 5,500,000 warrants, with up to 825,000 more if underwriters use their overallotment option, each buying one share at US$6.75 until December 5, 2009. The filing gives no share count or proceeds for the offering itself.
This amendment changes the reason for the auditor change: PKF wished to resign, citing no Calgary office and the extra resources needed to serve the company, rather than being simply replaced. KPMG LLP's appointment stands, and the filing again reports no disagreements and no adverse opinions.
On November 13, 2007 the company replaced its auditor Pannell Kerr Forster (PKF) with KPMG LLP. The filing says PKF's reports for the past two years had no adverse opinion and there were no disagreements.
