Past year: ▲ 50%(0.40c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Oct 2023capital raising announcement▲ GoodMajor
The board will return up to A$40.0m (A$0.008 per share) to shareholders in early 2024, from existing cash, subject to approval at the 30 November AGM. Described as the first step of the strategic review; a sale is still being assessed.
24 Apr 2020capital raising announcement● NeutralMajor
The retail offer raises A$6.0m from 1,000m shares at A$0.006: only A$1.78m from applications, with about A$4.2m taken up by underwriter Euroz and sub-underwriters. Total raised is about A$13.8m, below the A$17.5m targeted, with allotment on 28 April.
What it means for a shareholder
1.00bn new shares at A$0.006 to raise about A$6.0m. That's 21% dilution: every existing holder's slice gets 21% smaller. If you held A$1,000 of shares (166,667 at the issue price), your slice goes from 0.00443% to 0.0035% of the company. To keep it you'd need 44,260 more shares - about A$266 at the issue price.
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9 Apr 2020capital raising announcement● Neutral
Otto extends the retail entitlement offer close from 16 April to 21 April 2020, as COVID-19 freight delays held up some shareholders' documents. New shares are now to be allotted 28 April.
3 Apr 2020capital raising announcement● Neutral
The retail entitlement offer opens and the booklet is dispatched: one new share for each share held at A$0.006, to raise up to A$16.1m in total across the entitlement offer. It closes 16 April. Cover announcement with offer documents, no new terms.
31 Mar 2020capital raising announcement▲ GoodMajor
Otto completes the A$1.4m placement and A$6.4m institutional entitlement offer at A$0.006 a share; Molton took 536.9m shares plus 528.7m shortfall shares as sub-underwriter. The partly underwritten retail offer of up to A$9.7m opens 3 April and closes 16 April.
26 Mar 2020capital raising announcement▼ BadMajor
Otto launches a raise of about A$17.5m at A$0.006 per share, a 25% discount: a A$1.4m Molton placement plus a 1-for-1 entitlement offer of about A$16.1m, partly underwritten by Euroz. Funds cover the SM71 F5 share and contingent development wells.
26 Apr 2019capital raising announcement▲ GoodMajor
Retail entitlement offer drew A$6.9m of applications (46% take-up of entitlements plus A$1.2m extra). The A$5.4m shortfall goes to underwriter Morgans' sub-underwriters, so the full A$12.3m (231.8m shares at A$0.053) is raised, completing the ~A$31m raising.
What it means for a shareholder
232m new shares at A$0.053 to raise about A$12.3m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (18,868 at the issue price), your slice goes from 0.000907% to 0.000816% of the company. To keep it you'd need 2,102 more shares - about A$111 at the issue price.
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17 Apr 2019capital raising announcement● Neutral
Reminder that the retail entitlement offer (1 for 5 at A$0.053) closes 5pm on 23 April 2019. Administrative reminder of the raising announced 29 March; no new terms.
9 Apr 2019capital raising announcement● Neutral
Appendix 3B for 350.76m shares issued at A$0.053 on 9 April (207.5m placement, 143.2m institutional). About 231.8m more come from the retail offer on 1 May. Proceeds redeem US$8.1m notes, fund Bulleit and working capital.
5 Apr 2019capital raising announcement● Neutral
The retail entitlement offer opened and booklet dispatched: 1 for 5 at A$0.053, closing 23 April 2019. Administrative step in the raising announced 29 March; no new terms.
2 Apr 2019capital raising announcement▲ GoodMajor
The A$11m placement (207.5m shares) and A$7.6m institutional offer (143.2m shares) closed oversubscribed at A$0.053. A fully underwritten retail offer of about A$12.3m opens 5 April. Otto says it is fully funded for its 2019 program.
What it means for a shareholder
143m new shares at A$0.053 to raise about A$7.6m. That's 6.4% dilution: every existing holder's slice gets 6.4% smaller. If you held A$1,000 of shares (18,868 at the issue price), your slice goes from 0.000907% to 0.000848% of the company. To keep it you'd need 1,298 more shares - about A$69 at the issue price.
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29 Mar 2019capital raising announcement▲ GoodMajor
Otto farms into Talos-operated Green Canyon 21 (Bulleit), earning 16.67% by paying 22.22% of the appraisal well (US$9.0m share), drilling from Q2 2019. It also raises about A$31m (A$11m placement plus ~A$20m 1-for-5 entitlement offer) and will redeem US$8.1m of convertible notes.
24 Aug 2018capital raising announcement▲ GoodMajor
The retail offer closed oversubscribed: A$5.5m (78%) of entitlements taken up, A$7m raised via 118.5m shares at A$0.059, with A$4.5m of excess applications refunded. Total raising is A$20m, so the underwriters receive no shares. Completes the 31 July raising to fund Hilcorp, Bivouac Peak and Alaska.
What it means for a shareholder
119m new shares at A$0.059 to raise about A$7.0m. That's 6.5% dilution: every existing holder's slice gets 6.5% smaller. If you held A$1,000 of shares (16,949 at the issue price), your slice goes from 0.000996% to 0.000932% of the company. To keep it you'd need 1,181 more shares - about A$70 at the issue price.
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7 Aug 2018capital raising announcement● Neutral
The retail entitlement offer opened and the booklet was despatched: 1 new share for every 9 held at A$0.059, closing 21 August. It is the retail part of the roughly A$10m entitlement offer announced 31 July.
2 Aug 2018capital raising announcement▲ GoodMajor
Otto completed a A$10m placement (about 169.5m shares) and A$3m institutional entitlement offer (about 51.6m shares, 34% take-up), both at A$0.059. A fully underwritten ~A$7m retail offer follows. Funds the Hilcorp program announced 31 July.
What it means for a shareholder
51.6m new shares at A$0.059 to raise about A$3.0m. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held A$1,000 of shares (16,949 at the issue price), your slice goes from 0.000996% to 0.000967% of the company. To keep it you'd need 514 more shares - about A$30 at the issue price.
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22 Nov 2017capital raising announcement▲ GoodMajor
The share purchase plan drew A$6.2m of applications against a A$1m target, and the board will accept A$3.5m at A$0.035, scaling applicants back. Shares issue about 27 November. Together with the A$8.5m placement, this lifts the recent raising to about A$12m.
30 Oct 2017capital raising announcement● Neutral
The share purchase plan is open to eligible shareholders to 17 November, up to A$15,000 each at A$0.035, a 17.3% discount to the five-day average price. It targets about A$1m, not underwritten. Mailed with the AGM notice. Follows the 25 October placement.
25 Oct 2017capital raising announcement● NeutralMajor
Otto raises A$8.5m through a placement of 243m shares at A$0.035, with Molton taking A$1.6m. An SPP of up to about A$1m at the same price will follow. Funds go to SM 71 wells, ST 224 and growth options. Directors' A$0.2m tranche needs AGM approval.
What it means for a shareholder
243m new shares at A$0.035 to raise about A$8.5m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00241% to 0.002% of the company. To keep it you'd need 5,853 more shares - about A$205 at the issue price.
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29 May 2017capital raising announcement● NeutralMajor
Otto will raise US$8.2m through secured convertible notes, mainly from major shareholder Molton Holdings (US$8m), to fund SM-71 development. Conversion price is A$0.055, 14% interest, maturing 30 June 2019, plus a success fee. Needs shareholder approval at a July 2017 meeting.
4 May 2015capital raising announcement● Neutral
Otto received a draft ATO ruling on the planned A$0.064 per share payout. It will be A$0.0564 return of capital plus, if shareholders approve, an A$0.0076 unfranked special dividend. A June 2015 general meeting will vote on it.
14 May 2009capital raising announcement▲ Good
Otto issued 324.8m shares under the entitlement issue. Shareholders got their full entitlement but not extra shares applied for, and the shortfall went to sub-underwriters. Total raised about A$21.2m, to fund wells, repay loans and working capital. Completes the raising.
What it means for a shareholder
325m new shares at about A$0.0653 to raise about A$21.2m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held A$1,000 of shares (15,321 at the issue price), your slice goes from 0.00155% to 0.00116% of the company. To keep it you'd need 5,019 more shares - about A$328 at the issue price.
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12 May 2009capital raising announcement▲ GoodMajor
The revised entitlement issue raised about A$16.2m from 76.5% take-up, and the shortfall was placed, bringing the total to about A$21.2m at 5c. Funds the cash needs flagged earlier.
8 Apr 2009capital raising announcement● Neutral
Shareholder letter on the revised 3-for-4 entitlement issue at 5c, up to A$21.2m. Record date 20 April, offer closes 7 May, new shares issued 14 May. Up to 424.9m new shares; total about 1.05bn including 61m placement shares. No shareholder approval needed.
7 Apr 2009capital raising announcement● Neutral
Letter to option holders on the revised entitlement issue: 3-for-4 at 5c (about A$21.2m), replacing the 7c offer. Options must be exercised by the new record date of 20 April 2009 to participate.
24 Mar 2009capital raising announcement● Neutral
Shareholder letter on the 3-for-4 entitlement issue at 7c: 424.9m new shares on 566.6m existing, taking the total to 991.5m. Funds go to Italy, Argentina, Philippines permit costs, Turkey, loan repayment. No shareholder approval needed. Repeats known terms.
23 Mar 2009capital raising announcement● Neutral
Confirms the entitlement issue timetable: ex-date 25 March, record date 31 March, offer closing 21 April 2009. Clarification only; no change to the 7c, 3-for-4 terms announced on 20 March.
20 Mar 2009capital raising announcement● NeutralMajor
Otto raises about A$35m at 7c a share: A$5.2m placement of 73.9m shares plus a fully underwritten 3-for-4 entitlement issue for A$29.7m. Proceeds fund Italy and Argentina wells, Edirne, and repaying shareholder and director loans, now enlarged to US$7m and A$1.53m. Priced well below the 10c market price.
20 Mar 2009capital raising announcement● Neutral
Letter to option holders on the 3-for-4 entitlement issue at 7c (about A$29.7m, underwritten by Euroz). To take part, options must be exercised by the 31 March 2009 record date. Mostly a mechanical notice of the 20 March raising.
15 May 2008capital raising announcement● NeutralMajor
Otto placed 38.46m shares at 39c to raise $15.0m via Euroz. 14.7m shares issue now, 22.95m await FIRB approval, 0.77m to director John Jetter need shareholder approval. Funds go to Argentina, Italy, Philippine surveys and working capital until Galoc cash flow.
What it means for a shareholder
38.5m new shares at A$0.390 to raise about A$15.0m. That's 8.1% dilution: every existing holder's slice gets 8.1% smaller. If you held A$1,000 of shares (2,564 at the issue price), your slice goes from 0.000584% to 0.000537% of the company. To keep it you'd need 225 more shares - about A$88 at the issue price.
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25 July 2007capital raising announcement▲ GoodMajor
Otto placed 36.73 million shares at 30c to raise $11.02m, up from the 16c placements earlier in 2007. 25.9m shares ($7.77m) issue now; 10.83m ($3.25m) need shareholder approval. Funds go to Philippines seismic, rig charter payments and long-lead items.
What it means for a shareholder
36.7m new shares at A$0.300 to raise about A$11.0m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (3,333 at the issue price), your slice goes from 0.00193% to 0.00159% of the company. To keep it you'd need 708 more shares - about A$212 at the issue price.
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