Each one in plain English, with the numbers worked through for a shareholder.
19 May 2023capital raising announcement● Neutral
Option prospectus for the free attaching options from the May placement: up to 250m to unrelated investors and 2m to directors, conditional on shareholder approval. No funds are raised. It exists so shares from option exercise can be on-sold freely.
15 May 2023capital raising announcement▲ GoodMajor
Raising up to A$5m by placing 500m shares at $0.01 (9.1% discount), with one free option per two shares exercisable at $0.012 by 8 August 2025. Euroz Hartleys is lead manager at 6%. Iain Smith joins as board adviser; Woodside has enlarged the survey to 7,200 sq km.
What it means for a shareholder
500m new shares at A$0.010 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.
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29 July 2022capital raising announcement● Neutral
Option prospectus offering 299,999,998 options at $0.012 for three years: 199,999,998 to placement investors and 100,000,000 to lead manager Euroz Hartleys. It raises no funds and completes the July placement's attaching-option terms.
8 July 2022capital raising announcement● NeutralMajor
PCL raised A$2.0m through a placement of up to 400m shares at $0.005, a 16.7% discount to the last price, with one free option per two shares (exercisable at $0.012, three years). Funds go to Namibia exploration, farmout work and working capital, after cash fell to A$274k at June.
What it means for a shareholder
400m new shares at A$0.005 to raise about A$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 Aug 2021capital raising announcement● NeutralMajor
Placement raising $1.0m at $0.001 per share (1,037,507,325 shares) to professional investors; directors Kennedy, Rushworth and Malaxos take $120,000 subject to approval. Shares on issue rise to about 7.15bn. Refills cash of about A$395k.
What it means for a shareholder
1.04bn new shares at about A$0.001 to raise about A$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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16 Feb 2021capital raising announcement● NeutralMajor
Placement raising A$710,000 at $0.001 per share (710m shares), with directors Kennedy ($100k) and Malaxos ($10k) subscribing, subject to approval. Funds go to exploration, new ventures and working capital, replenishing cash of A$343k. Shares on issue rise to about 6.12bn.
What it means for a shareholder
710m new shares at about A$0.001 to raise about A$710,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 Sept 2018capital raising announcement● Neutral
Administrative notice that PCL issued 144,926,830 shares on exercise of options. No further detail beyond the compliance statement.
6 Sept 2018capital raising announcement▲ GoodMajor
PCL received the final US$5.5m (about A$7.6m) from Africa Energy after the Cormorant-1 spud, completing its US$7.7m investment. Africa Energy holds 33.33% of Pancontinental Namibia, PCL 66.67%. This resolves the open spud payment.
21 Mar 2018capital raising announcement● NeutralMajor
PCL raises A$1.6m through unlisted convertible notes, converting at A$0.008 (a 33% premium to the 30-day average of A$0.006), 10% interest, 12-month maturity. Funds go to Dempsey and Tulainyo testing, PEL 87, Walyering. Next big inflow is about A$7m at Cormorant-1 spud.
18 July 2017capital raising announcement● Neutral
Administrative notice under s708A that PCL issued 1,000,000,000 shares at $0.002 each, raising $2,000,000 before costs, so they can be freely traded. Confirms the placement announced earlier; adds no new information.
What it means for a shareholder
1.00bn new shares at A$0.002 to raise about A$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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17 July 2017capital raising announcement▲ GoodMajor
PCL confirms the $2m placement has been received, with shares allotted next day. It says it has earned 10% of Dempsey and is funded for the well, due to spud end July. It exercised an option for a further 5% of Alvares, with cost capped near US$200,000.
10 July 2017capital raising announcement● NeutralMajor
PCL has commitments for a placement of up to $2m, issuing up to 1 billion shares at 0.2c, through Hartleys. It funds Dempsey-1 and working capital, subject to the Bombora completion and shareholder approval. Settlement is scheduled for 17 July. Dilutive: it is the same price as April's raising.
What it means for a shareholder
1.00bn new shares at A$0.002 to raise about A$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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19 May 2017capital raising announcement▼ BadMajor
The share purchase plan raised $398,500 at 0.2c from existing shareholders. Together with the $400,000 placement and $150,000 directors' placement, the April raising totalled $948,500.
1 May 2017capital raising announcement● Neutral
The share purchase plan close is extended two weeks to 16 May 2017, because of Easter and Anzac Day and shareholder enquiries. Price stays at 0.2c, with a $1,000 to $15,000 range per holder. Allotment moves to about 23 May.
18 Apr 2017capital raising announcement● Neutral
Share purchase plan offer booklet: existing holders can buy up to $15,000 of shares at 0.2c, closing 2 May 2017. The chairman says directors' pay is significantly cut for the rest of 2017. Terms repeat the 10 April announcement.
10 Apr 2017capital raising announcement▼ BadMajor
PCL plans to raise up to $1.83m at 0.2c, below the 0.3c in January: a $600,000 placement of up to 300m shares, plus a $1.23m share purchase plan. Directors may take up to $200,000, subject to approval. Funds cover PEL 37 costs and working capital.
What it means for a shareholder
300m new shares at about A$0.0061 to raise about A$1.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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31 Jan 2017capital raising announcement● Neutral
Routine section 708A notice for the 333,333,333-share placement at 0.3c ($1.0m). 256,666,679 shares issued today; 76,666,666 await director shareholder approval. No new information.
31 Jan 2017capital raising announcement● Neutral
Completes the January placement: 256,666,679 shares issued at 0.3c ($770,000). A further 76,666,666 shares ($230,000) go to directors only if shareholders approve at a general meeting. Hartleys was broker, with Peel Hunt support.
What it means for a shareholder
257m new shares at A$0.003 to raise about A$770,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Jan 2017capital raising announcement● NeutralMajor
PCL raises up to $1.0m via a placement of up to 333m shares at 0.3c, down from 0.4c in earlier raisings. Funds are for paying Tullow's disputed costs (circa A$600k remaining), Namibia exploration and working capital. Directors commit $230,000, subject to approval.
What it means for a shareholder
333m new shares at A$0.003 to raise about A$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Jan 2017capital raising announcement● Neutral
Routine section 708A notice for the placement of 333,333,333 shares at 0.3c raising $1,000,000 before costs. Confirms the raising announced the same day.
What it means for a shareholder
333m new shares at A$0.003 to raise about A$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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7 Apr 2016capital raising announcement● Neutral
Routine section 708A notice for a placement of 185.5m shares at 0.4c. This is the shortfall placement announced 18 March, though the share count differs from the 175m shown there (likely including broker shares, an inference).
What it means for a shareholder
186m new shares at A$0.004 to raise about A$742,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Mar 2016capital raising announcement▲ GoodMajor
PCL raises $700,000 via a placement of 175m shares at 0.4c, managed by London broker Peel Hunt, covering the shortfall from the share purchase plan. Settlement is due 24 March 2016, with Peel Hunt's brokerage paid in shares.
What it means for a shareholder
175m new shares at A$0.004 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.
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8 Feb 2016capital raising announcement● NeutralMajor
Share purchase plan raised only $286,000 (71.5m shares at 0.4c), well short of the $1m target. Together with the placement and directors' placement, the December 2015 raising totals $1.524m.
What it means for a shareholder
71.5m new shares at A$0.004 to raise about A$286,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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29 Jan 2016capital raising announcement● Neutral
Share purchase plan closing date extended a second time, by one week to 5 February 2016, after shareholder enquiries. Price stays 0.4c, $1,000 to $15,000 per holder; shares now to issue around 12 February.
21 Jan 2016capital raising announcement● Neutral
Share purchase plan closing date extended one week to 29 January 2016 after shareholder enquiries. Price stays 0.4c, $1,000 to $15,000 per holder; shares to issue around 5 February.
24 Dec 2015capital raising announcement● Neutral
Share purchase plan offer documents sent: shareholders can buy up to $15,000 of shares at 0.4c, a 20% discount to the 1 December price. Targets about $1m; closes 22 January 2016. Funds to go to Namibia sale costs, Kenya L6 farmout and working capital.
11 Dec 2015capital raising announcement● Neutral
Placement completed: 184.5m shares at 0.4c raising $738,000 before costs, less than the up to $1.2m flagged on 4 December. Routine section 708A compliance notice.
What it means for a shareholder
185m new shares at A$0.004 to raise about A$738,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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11 Dec 2015capital raising announcement● Neutral
Listing rule disclosure on the placement: $738,000 raised, shares on issue rise from 1,151m to 1,335m. Hartleys paid a 6% commission. No underwriting. Share purchase plan still depends on an ASX waiver.
4 Dec 2015capital raising announcement● NeutralMajor
PCL raises up to $1.2m via a placement of up to 300m shares at 0.4c, plus a planned $1m share purchase plan at the same price. Directors to subscribe $500k, subject to approval. Funds cover Namibia sale costs and about $400k owed to BG Group. First raising since 2012's $45m.
31 July 2012capital raising announcement▲ GoodMajor
PCL will place the unsubscribed share purchase plan shortfall: up to 25.3m shares at 17.5c to raise up to $4.43m, from sophisticated and Hartleys institutional clients. Funds go to Mbawa costs, Kenya and Namibia seismic and working capital. Settlement expected 9 August 2012.
What it means for a shareholder
25.3m new shares at A$0.175 to raise about A$4.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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