Past year: ▲ 65%(36.5c – 1.34 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2019other▼ Bad
JSE-required trading statement: loss per share for the six months to 31 August 2019 expected at 33.30 to 37.19 cents, up 71% to 91% from 19.43 cents. The company attributes it to one-off costs of the ASX IPO and the US$40 million OPIC loan.
17 Sept 2019debt financing▲ Good
The A$500,000 convertible notes issued in December 2018 were redeemed at face value. The notes carried 15% interest and converted at A$0.74 per share, so redemption removes costly debt and that potential dilution.
11 Sept 2019drilling scheduled▲ GoodMajor
Bohrmeister Technik appointed to drill a horizontal well into the Virginia sandstone, with mobilisation within two weeks and drilling through the rest of 2019. It aims to size helium in sandstone not in current reserves; a 2016 well there showed almost 11% helium.
21 Aug 2019debt financing▲ GoodMajor
US$40 million loan agreement with US agency OPIC signed, turning the commitment flagged before listing into a binding deal. 12-year term, just under 3 years' grace before principal is due, fixed against US Treasuries. First disbursement expected within days; revenue now expected first half 2021.
7 Aug 2019contract award▲ GoodMajor
EPCM Bonisana appointed to build the Virginia gas gathering pipeline, the first major milestone since the ASX listing. Phase 1 links the existing 12 wells plus new ones, targeting about 2,700 GJ of LNG and 350 kg of liquid helium daily from 2021.
18 July 2019other● Neutral
Appendix 4G key to corporate governance disclosures, pointing to the governance statement approved by the board and current at 23 April 2019. Administrative filing with no business news.
17 July 2019annual report● Neutral
Integrated Annual Report for the year to 28 February 2019 lodged with ASX, with a note that Australian takeover rules do not apply to the company and South African law limits share acquisitions. No new results beyond those released on 31 May.
1 July 2019agm notice● Neutral
Annual report for the year to 28 February 2019 was sent to shareholders with no changes to the results announced on 31 May 2019. AGM set for 27 September 2019 in Johannesburg.
1 July 2019auditor change● Neutral
Renergen appointed Mazars as its external auditor from 1 July 2019. No reason is given in the notice.
6 June 2019director officer appointment▲ GoodMajor
Renergen began trading on the ASX as RLT after raising $10 million at $0.80 per CDI. Dr David King joined as independent non-executive director. Funds go to wells and a helium feasibility study at the Virginia project; Tetra4 is 90% owned.
5 June 2019other● Neutral
Securities trading policy covering insider trading rules in South Africa (JSE) and Australia (ASX). Administrative listing document with no business news.
5 June 2019other● Neutral
Replacement prospectus dated 8 May 2019 for the IPO: CDIs at $0.80, minimum $5 million raise plus up to $5 million oversubscriptions. It covers the helium and gas business and risks; the raise is described as highly speculative.
5 June 2019other● Neutral
Terms of the employee Bonus Share Plan, which defers part of annual bonuses into shares. Capped at 3,970,630 shares, about 5% of shares on issue. Administrative listing document.
5 June 2019other● Neutral
Corporate governance statement adopted by the board in April 2019. Lists Brett Kimber as chairman and Stefano Marani as CEO, with the board's independence and skills. Administrative listing document.
5 June 2019debt financing● Neutral
Terms of a convertible note offered via Gleneagle in December 2018 at A$1,000 per note, with up to A$500,000 on offer to this subscriber. Attached to the listing documents; the full note terms are not in the excerpt.
5 June 2019other● Neutral
Pre-quotation disclosure confirms the capital structure at listing: 112,635,752 shares and 6,068,609 options. It attaches the prospectus, accounts, governance documents and a convertible note; no new results.
5 June 2019annual report● Neutral
Historical results for the year to 28 February 2017 attached to the listing file. Group loss was R15.3 million, with R218 million IDC funding announced for the Tetra4 Virginia pipeline. A pilot plant supplied gas to buses.
5 June 2019other▲ GoodMajor
ASX admitted Renergen to its official list; CDIs begin trading 6 June 2019. The IPO raised A$10 million by issuing 12.5 million CDIs at $0.80, on top of 100.1 million existing shares.
5 June 2019other● Neutral
Standard ASX listing application form and checklist for Renergen's CDIs, with annexures. Administrative paperwork supporting the listing; no new operating or financial news.
