Past year: ▼ 67%(0.10c – 0.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 June 2008capital raising announcement▲ GoodMajor
Sun raises about A$4M through convertible notes, mainly for its 50% of Thailand block L20/50. Notes are $0.55 each, convert at 11c (22% premium, subject to reset), pay 12% quarterly and mature 31 March 2011. Aeromagnetic survey and a late-2008 well are planned.
11 Dec 2007capital raising announcement● Neutral
Sun lodges the formal notice for issuing 25,882,262 shares on 11 December, completing the 9.5c Thailand-bond placement announced 29 November. Administrative.
29 Nov 2007capital raising announcement● NeutralMajor
Sun places up to 25.88M shares at 9.5c to Hartleys' clients, raising A$2.46M, so it can fund its half of a US$4.25M bond for Thailand block L20/50 on award. Follows the 7c entitlement issue weeks earlier.
What it means for a shareholder
25.9m new shares at A$0.095 to raise about A$2.5m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (10,526 at the issue price), your slice goes from 0.00528% to 0.00468% of the company. To keep it you'd need 1,367 more shares - about A$130 at the issue price.
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16 Nov 2007capital raising announcement▲ Good
Entitlement issue closed with shareholders taking up $1,559,208 of the $1,992,151 raised at 7c. The $432,943 shortfall goes to Hartleys' clients under the underwriting. Funds are secured in full.
30 Oct 2007capital raising announcement● Neutral
Legal cleansing notice for the entitlement issue: about 28.46M shares at 7c to raise about $1.99M, taking shares to about 199.2M. If no holders take up, Hartleys and sub-underwriters could end up with up to about 14.3%.
What it means for a shareholder
28.5m new shares at A$0.070 to raise about A$2.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.00717% to 0.00627% of the company. To keep it you'd need 2,041 more shares - about A$143 at the issue price.
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19 Oct 2007capital raising announcement● Neutral
Letter to shareholders on the 1-for-6 entitlement issue at 7 cents, underwritten by Hartleys for 6%. Record date is 26 October and acceptances close 14 November. Farrell and Woods sub-underwrite 220,536 and 1,000,000 shares. Repeats known terms.
18 Oct 2007capital raising announcement● NeutralMajor
Sun launches a fully underwritten entitlement issue of about 28.46 million shares at 7 cents, one for six, raising about $1.99 million. Hartleys underwrites for a 6% fee. Funds go to US production cash flow and Thailand. Directors will take up their entitlements.
What it means for a shareholder
28.5m new shares at A$0.070 to raise about A$2.0m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.00837% to 0.00717% of the company. To keep it you'd need 2,381 more shares - about A$167 at the issue price.
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27 Oct 2006capital raising announcement▲ GoodMajor
Sun completed its placement of 22 million shares at 10 cents, raising $2.2 million before expenses, with no shortfall. It also issued 12.5 million free options at 20 cents expiring 30 December 2008, taking shares on issue to 170,755,785.
What it means for a shareholder
22.0m new shares at A$0.100 to raise about A$2.2m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00672% to 0.00586% of the company. To keep it you'd need 1,479 more shares - about A$148 at the issue price.
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17 Oct 2006capital raising announcement● NeutralMajor
Sun lodged a prospectus under the shareholder approval of 27 July 2006 to raise $2.2M via up to 22M shares at 10c with 11M free 20c options (to 30 Dec 2008). Funds go to Project Margarita and Flour Bluff. Resolves the earlier unexplained 30M-share approval.
What it means for a shareholder
22.0m new shares at A$0.100 to raise about A$2.2m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00672% to 0.00586% of the company. To keep it you'd need 1,479 more shares - about A$148 at the issue price.
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6 Jan 2006capital raising announcement▲ GoodMajor
Form 484 filing records the listing of 32,446,000 new shares at 18 cents, raising $5,840,280 before expenses under the 18 November 2005 prospectus. The shares were listed on or about 9 December 2005, so this is a notice of an already completed raising.
What it means for a shareholder
32.4m new shares at A$0.180 to raise about A$5.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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