Past year: ▼ 84%(0.10c – 0.63c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 May 2007capital raising announcement● NeutralMajor
Updated pro-forma balance sheet shows the IPO raised about $6.05 million, down from the $8 million sought, with issue costs cut to $745,000. Pro-forma net assets are about $9.2 million, and convertible notes are converted.
21 May 2007annual report● Neutral
Audited accounts for the year to 31 December 2006, released as pre-quotation disclosure. The directors' report lists the board, including Chairman Klaus Zahnd and Barry Adams. Financial figures were truncated, so none are quoted here.
21 May 2007security holder rights change● Neutral
Option terms disclosed. Sky Hunter receives 6,219,941 incentive options at $0.20, exercisable in thirds when the company averages 1,000, 1,500 and 2,000 barrels of oil equivalent per day for three months, expiring 31 December 2010.
21 May 2007other● Neutral
Corporate governance statement. The board lacks a majority of independent directors, and Klaus Zahnd is both chairman and interim managing director. A permanent managing director is expected within six months of listing.
21 May 2007other● Neutral
Appendix 1A listing application, the standard ASX form. It lists the company's directors, incorporation in New South Wales on 20 December 2001, and the option structure. Administrative.
21 May 2007other● Neutral
Administrative notice listing the pre-quotation documents released with the admission (top 20 holders, option terms, 2006 accounts, balance sheet, commitments, escrow, governance, constitution). No new substance itself.
21 May 2007other● Neutral
Top 20 shareholder list as at 15 May 2007. Sky Hunter Exploration holds 29.33% (27.1 million shares), the largest holder; the top 20 hold 64.41% of 92.5 million units. Administrative disclosure.
21 May 2007other● Neutral
Escrow notice: 39,325,862 shares and 17,394,885 options will be restricted from quotation, mostly for 24 months from listing. Administrative disclosure.
21 May 2007other● Neutral
Planned use of the $6 million raised: about $3.4 million on wells in the Cooper Basin and WA's Carnarvon Basin, plus exploration and overheads. The company expects to farm down some commitments, or raise more money later if it cannot.
21 May 2007other● Neutral
Company constitution released as part of the listing documents. Standard governance rules covering directors, meetings and shares, with no new substance for shareholders.
7 May 2007capital raising announcement● NeutralMajor
Red Sky Energy's replacement prospectus offers up to 40,000,000 shares at 20 cents to raise up to $8 million, ahead of an ASX listing. The shares are described as speculative.
What it means for a shareholder
40.0m new shares at A$0.200 to raise about A$8.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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