Past year: ▼ 51%(1.00c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2009capital raising announcement▲ Good
ASX grants waivers allowing the share purchase plan to proceed, and Rey says the plan was well supported with no scale-back. The underwriter will take up the small unsubscribed part of the $5M. This advances the 20c raising announced 23 October.
23 Oct 2009capital raising announcement▲ GoodMajor
Rey plans to raise $15M at 20c: a $10M institutional placement plus a $5M underwritten share purchase plan, 75 million shares in total (29% of the enlarged 258.6M). Needs shareholder approval at the 27 November AGM. Funds a 2010 drilling program and possible feasibility study.
20 July 2009capital raising announcement▲ GoodMajor
Rights issue closed with 72% take-up (21.9m of 30.6m shares); BBY takes the remaining 8.68m shares as underwriter, completing the $2.75m raise at 9c. Directors will reject Gujarat's revised offer; Rey closed at 14c, 55% above the 9c cash price.
17 June 2009capital raising announcement● NeutralMajor
Rey directors reject Gujarat's offer as inadequate, highly conditional and, with a 90% minimum acceptance, incapable of succeeding. Rey also launches a partly underwritten 1-for-5 rights issue at 9c to raise $2.75m for the pre-feasibility study and working capital.
17 June 2009capital raising announcement● Neutral
Offer letter for the 1-for-5 rights issue at 9c: up to 30.6m new shares to raise about $2.75m, partly underwritten by BBY. Record date 25 June, closing 16 July, taking shares from 153.0m to 183.6m if fully taken up. Repeats the terms announced earlier that day.
What it means for a shareholder
30.6m new shares at about A$0.0899 to raise about A$2.8m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (11,127 at the issue price), your slice goes from 0.00606% to 0.00519% of the company. To keep it you'd need 1,854 more shares - about A$167 at the issue price.
Create a free account to see this worked out for your own holding.
21 Oct 2008capital raising announcement● Neutral
Placement completed: 16m shares at 10c ($1.6m), against a weighted average market price of 11.1c. Directors will take 6.8m of the shares, subject to shareholder approval. Veritas Securities advised. Resolves the 17 October raising.
What it means for a shareholder
16.0m new shares at A$0.100 to raise about A$1.6m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0073% to 0.00653% of the company. To keep it you'd need 1,168 more shares - about A$117 at the issue price.
Create a free account to see this worked out for your own holding.
17 Oct 2008capital raising announcement● NeutralMajor
Rey will place up to 16.0m shares at 10c to raise $1.6m. Funds go to Canning Basin drilling, including early investigation of coal for underground gasification, JORC resource calculations and working capital. The price is below the 11c-15c of earlier 2008 raisings.
What it means for a shareholder
16.0m new shares at A$0.100 to raise about A$1.6m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0073% to 0.00653% of the company. To keep it you'd need 1,168 more shares - about A$117 at the issue price.
Create a free account to see this worked out for your own holding.
27 Mar 2008capital raising announcement● Neutral
Appendix 3B for the rights issue allotment: 43.27m shares at 11c and 24.64m options (30c, expiring 31 March 2010). Total shares on issue rise to 137.0m. Administrative follow-through on the completed raising.
What it means for a shareholder
43.3m new shares at A$0.110 to raise about A$4.8m. That's 24% dilution: every existing holder's slice gets 24% smaller. If you held A$1,000 of shares (9,091 at the issue price), your slice goes from 0.00663% to 0.00504% of the company. To keep it you'd need 2,871 more shares - about A$316 at the issue price.
Create a free account to see this worked out for your own holding.
19 Mar 2008capital raising announcement▲ GoodMajor
Rights issue completed, raising $4.7m before costs; with existing cash Rey has over $6m for 2008 Liveringa drilling. Shareholders took up 60.6%; the 39.4% shortfall (17.0m shares) is underwritten by Veritas, which will place it. Resolves the open raising thread.
What it means for a shareholder
17.0m new shares at about A$0.2765 to raise about A$4.7m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (3,617 at the issue price), your slice goes from 0.00264% to 0.00235% of the company. To keep it you'd need 449 more shares - about A$124 at the issue price.
Create a free account to see this worked out for your own holding.
27 Feb 2008capital raising announcement● Neutral
Prospectus and entitlement forms for the 6-for-13 rights issue at 11c were sent to eligible shareholders. Offer closes 14 March 2008. Administrative step with no new information.
15 Feb 2008capital raising announcement● Neutral
Shareholder letter restating the rights issue terms: 6 new shares per 13 at 11c, about $4.76m, with one 30c option per two new shares. Shares on issue would rise from 93.8m to 137.0m. No new information.
14 Feb 2008capital raising announcement● NeutralMajor
Rey now plans a 6-for-13 rights issue at 11c to raise about $4.76m, replacing January's proposed 1-for-3 at 15c. Veritas underwrites 67.5%; directors intend to take up the rest. The announcement cites volatile markets for the changed terms. Funds go to Liveringa drilling.
16 Jan 2008capital raising announcement● NeutralMajor
Rey raised $1.5m via 10m shares at 15c, with free options at 30c to March 2010, and proposes a 1-for-3 rights issue at 15c to raise up to $4.7m. Funds go to Liveringa drilling. The 15c price is above August's 10c placement.
What it means for a shareholder
10.0m new shares at A$0.150 to raise about A$1.5m. That's 53% dilution: every existing holder's slice gets 53% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.0762% to 0.0356% of the company. To keep it you'd need 7,619 more shares - about A$1,143 at the issue price.
Create a free account to see this worked out for your own holding.
31 Aug 2007capital raising announcement▼ BadMajor
The placement closed at 8,750,000 shares at 10c, short by 1,750,000 shares after market turmoil. Three directors offered to take the shortfall, subject to shareholder approval. Shares were issued at 10c against a 9.1c market price.
What it means for a shareholder
8.8m new shares at A$0.100 to raise about A$875,000. That's 64% dilution: every existing holder's slice gets 64% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.207% to 0.0736% of the company. To keep it you'd need 18,113 more shares - about A$1,811 at the issue price.
Create a free account to see this worked out for your own holding.
22 Aug 2007capital raising announcement● NeutralMajor
Rey plans a placement of up to 10.5 million shares at 10c to raise $1.05m, for working capital and Liveringa Stage 2 coal drilling. A share purchase plan of $2,000-$5,000 per shareholder will follow. Priced well below the 20c IPO.
What it means for a shareholder
10.5m new shares at A$0.100 to raise about A$1.1m. That's 68% dilution: every existing holder's slice gets 68% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.207% to 0.0652% of the company. To keep it you'd need 21,736 more shares - about A$2,174 at the issue price.
Create a free account to see this worked out for your own holding.
31 May 2006capital raising announcement▲ GoodMajor
Rey Resources's IPO prospectus offers 25,000,000 shares at $0.20 (with 12,500,000 options) to raise up to $5,000,000, minimum $3,000,000. Gujarat NRE Coke, a substantial shareholder, committed $800,000. Funds explore WA coal, Chile copper and Peru gold.
What it means for a shareholder
25.0m new shares at A$0.200 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.
Create a free account to see this worked out for your own holding.
