Each one in plain English, with the numbers worked through for a shareholder.
15 May 2012capital raising announcement● Neutral
The share purchase plan raised A$572,500 from applications for 3.27m shares, well below the A$5m cap. It supplements the $45m placement. The company says it is strongly funded, with Mbawa drilling targeted for Q3 2012.
What it means for a shareholder
3.3m new shares at about A$0.1751 to raise about A$572,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Offer document for the share purchase plan: existing shareholders can buy up to A$15,000 of shares at 17.5c, a 12.5% discount, to raise up to about A$5m. Offer closes 14 May 2012. Implements the plan already announced on 19 April.
PCL plans to raise up to $50m: a $45m placement of about 257.1m shares at 17.5c plus a $5m share purchase plan. Funds go to Kenya and Namibia seismic and part of the Mbawa well cost. Tranche two needs a 24 May 2012 shareholder vote. Follows the $15m December raise at 7.5c.
What it means for a shareholder
257m new shares at A$0.175 to raise about A$45.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
PCL plans to raise up to $15m via a placement of up to 200m shares at 7.5c to institutional investors. Funds go to seismic on Kenya L10A/B and L6, Namibia EL37 and working capital. Addresses the falling cash (A$3.4m); tranche two needs a 9 January 2012 shareholder vote.
What it means for a shareholder
200m new shares at A$0.075 to raise about A$15.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
PCL raises $5m before costs through a placement of 68,493,151 shares at 7.3 cents, led by Lodge Partners. Funds are for Kenya and Namibia exploration and working capital. This addresses the earlier cash shortfall of about A$1m.
What it means for a shareholder
68.5m new shares at A$0.073 to raise about A$5.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
9 Dec 2009capital raising announcement● NeutralMajor
The rights issue closed with shareholders taking up 42,937,772 shares. The underwriter took the 31,098,060-share shortfall. About 58% of the maximum 74.0m shares was taken up by shareholders, so the $2.22m was raised as underwritten.
Prospectus for the underwritten rights issue: one new share for every seven at $0.03, raising up to $2,221,075 (74,035,832 shares). Describes the offer as speculative. Repeats the 4 November announcement.
What it means for a shareholder
74.0m new shares at about A$0.030 to raise about A$2.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
4 Nov 2009capital raising announcement● NeutralMajor
Fully underwritten rights issue (Patersons): one new share for every seven held at 3 cents, raising $2,221,075 for up to 74.0m shares. Funds go to Australian and Kenyan exploration and working capital. Price is well above the 1.2 cent placement in May.
What it means for a shareholder
74.0m new shares at about A$0.030 to raise about A$2.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
8 May 2009capital raising announcement● NeutralMajor
Placement of 58.3m shares at 1.2 cents to sophisticated investors raises $700,000 for working capital. This follows the weak $113,000 SPP and prices below the 1.9c SPP.
What it means for a shareholder
58.3m new shares at A$0.012 to raise about A$700,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
The Share Purchase Plan closed with only 5,947,381 shares issued, raising $113,000, against a maximum target of $2.535m. Shareholder take-up was very small.
What it means for a shareholder
5.9m new shares at about A$0.019 to raise about A$113,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
15 Jan 2009capital raising announcement● NeutralMajor
Share Purchase Plan offers shareholders up to $5,000 of shares each at 1.9 cents, about a 19% discount, to raise up to $2,535,190 (133.4m shares). Closes 12 February 2009. Funds go to exploration and working capital, after earlier cash of only A$1.2m (Jun 2008).
17 July 2007capital raising announcement▲ GoodMajor
The 22,827,248-share shortfall from the entitlement issue has been placed with institutions and other investors. This resolves the undersubscription, so the full 63,538,587 shares at 6 cents (about $3.8 million) are now placed.
What it means for a shareholder
63.5m new shares at A$0.060 to raise about A$3.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
10 July 2007capital raising announcement▼ BadMajor
The 6 cent entitlement issue that closed 2 July was undersubscribed by 22,827,248 shares. Only 40,711,339 of the 63,538,587 offered shares were taken up and allotted, so the full $3.8 million was not raised from shareholders.
Letter to shareholders restating the entitlement issue terms: 1 for 6 at 6 cents, up to 63,538,587 shares, record date 12 June, closing 2 July 2007, not underwritten. Required listing-rule information; nothing new.
Letter telling US and Canadian shareholders they will not be offered the 1-for-6, 6 cent entitlement issue, because the company judged it unreasonable under ASX rules. Compliance notice only; no change to the raising terms.
Cover letter announcing the lodged prospectus for the 1-for-6 entitlement issue at 6 cents, raising about $3.8 million before expenses. Funds go to overheads, the Stokes Bay and Valentine wells, Namibia seismic data and new projects. Duplicates the prospectus.
31 May 2007capital raising announcement● NeutralMajor
Prospectus for a 1-for-6 non-renounceable entitlement issue of up to 63,538,587 shares at 6 cents to raise up to $3,812,315. It closes 2 July 2007. This is the first raising since the 14m-share November 2006 placement at 6 cents.
What it means for a shareholder
63.5m new shares at A$0.060 to raise about A$3.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Confirms the 14 million share placement at 6 cents ($840,000) is completed, with a 2.5% fee to Carmichael Capital Markets, and gives the required secondary trading notice. Administrative follow-up to the 1 November announcement.
1 Nov 2006capital raising announcement● NeutralMajor
Agreed to place 14 million shares at 6 cents to strategic investors, raising $840,000 before costs, managed by DJ Carmichael. Funds go to exploration and overheads. A second small raising after the 25 million share placement at 5.25 cents in July/August.
What it means for a shareholder
14.0m new shares at A$0.060 to raise about A$840,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Confirms the 25 million share placement at 5.25 cents ($1,312,500), with a 6% brokerage fee, and gives the required secondary trading notice. Administrative follow-up to the 31 July announcement.
31 July 2006capital raising announcement● NeutralMajor
Placed 25 million shares at 5.25 cents to raise $1,312,500 before costs, managed by Carmichael Capital Markets. Funds go to exploration and corporate overheads. Follows cash of A$1.4 million reported at December 2005.
What it means for a shareholder
25.0m new shares at A$0.0525 to raise about A$1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
