9 Oct 2017other● Neutral
Share distribution schedule as at 5 October 2017: 532 holders share 134,812,500 shares, with 76 holders of 100,001+ shares owning 90.18%. Administrative listing disclosure.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Oct 2017annual report● Neutral
First financial report, for the period from incorporation on 10 February 2017 to 30 June 2017: loss of $7,484, with $500,000 seed capital raised. Intends to drill appraisal and development wells in PL 231 within twelve months and lodged a pipeline survey application (PSL 2028).
9 Oct 2017other● Neutral
Listing information form: incorporated in Western Australia 10 February 2017, based in Brisbane, main activity conventional gas exploration. Names directors Baynton, Bellas, Towner and Paton, with BDO as auditor.
9 Oct 2017other● Neutral
ASX notice confirming quotation from 11am on 10 October 2017 under code GAS. Records the $5.25 million raised from 26,250,000 shares at $0.20, with Orbit Capital as lead manager.
9 Oct 2017other● Neutral
Cover notice listing the pre-quotation documents released with the listing (holder lists, listing forms, financial report, escrow details). Administrative, with no new substance of its own.
9 Oct 2017capital raising announcement● NeutralMajor
State Gas issued a prospectus to raise $5.25 million by offering 26,250,000 shares at $0.20 each, ahead of an ASX listing. Funds are for developing its PL 231 gas project in Queensland; the prospectus calls the investment speculative.
What it means for a shareholder
26.3m new shares at A$0.200 to raise about A$5.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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9 Oct 2017other● Neutral
Formal listing application to ASX for quotation of 29,299,999 fully paid ordinary shares. Standard form with no new business information.
9 Oct 2017capital raising announcement● Neutral
A supplementary prospectus widens the priority offer so all Triangle Energy shareholders on the register at 4 September 2017 can take part, not just those holding 20,000 or more shares. No other changes to the offer.
9 Oct 2017other● Neutral
Top 20 holders list: Triangle Energy (Global) holds 47,812,500 shares (35.47%), the largest holder, followed by Allegro Capital at 10.38%. The top 20 hold 80.42% of the 134,812,500 shares.
9 Oct 2017other● Neutral
Company confirms 35,312,500 shares were issued to Triangle Energy (Global) on conversion of B class shares, and 2,000,000 unquoted options were issued to director Ian Paton. Administrative confirmation.
9 Oct 2017other● Neutral
Oil and gas annexure to the listing form. Every resource-estimate item is marked 'Not applicable', so the prospectus quotes no formal reserve or resource estimates.
9 Oct 2017other▲ GoodMajor
State Gas was admitted to the ASX Official List on 9 October 2017. Quotation of 29,299,999 shares issued at $0.20 starts the next day.
9 Oct 2017other● Neutral
Company constitution lodged as part of listing documents. It is standard governance text with no new business information.
9 Oct 2017other● Neutral
Escrow details: 105,512,501 shares held by existing holders are restricted, mostly 77,012,500 for 24 months from quotation. Paton's 2,000,000 options are also escrowed for 24 months.