Past year: ▼ 68%(0.90c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Dec 2025capital raising announcement● NeutralMajor
State Gas has firm commitments for $3.2 million of unsecured convertible notes, convertible at $0.04, a 33% premium to the closing price, plus attaching $0.05 options. Directors will convert $0.5 million of loans. Issue needs shareholder approval in 2026; funds are treated as loans until then, and fund pre-development at Rolleston West.
12 Sept 2024capital raising announcement● NeutralMajor
The retail entitlement offer closed, raising about $0.9 million (18.1 million shares at $0.05). Total raised is about $5.25 million, plus $660,371 from director placement shares needing shareholder approval. This is well short of the up to $8.9 million targeted in August.
What it means for a shareholder
18.1m new shares at A$0.050 to raise about A$900,000. That's 4.6% dilution: every existing holder's slice gets 4.6% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00527% to 0.00503% of the company. To keep it you'd need 954 more shares - about A$48 at the issue price.
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19 Aug 2024capital raising announcement● Neutral
State Gas extended the close of the retail part of its 1-for-2 entitlement offer at $0.05 from 22 August to 5 September 2024. Results are now due 12 September. Timetable change only; no new terms.
8 Aug 2024capital raising announcement● Neutral
Letter to shareholders not eligible for the offer, restating the $0.05 terms and timetable. Eligibility is limited to Australian and New Zealand addresses. Administrative notice with no new information; there were 274.2 million existing shares.
8 Aug 2024capital raising announcement● Neutral
The institutional placement and institutional entitlement offer settled, raising about $2.0 million and $3.0 million. About 100 million new shares are to begin trading on 9 August; the placement options need shareholder approval, expected in September 2024.
8 Aug 2024capital raising announcement● Neutral
State Gas despatched the prospectus and entitlement forms to eligible retail shareholders. The retail offer is 1 new share for every 2 held at $0.05, opening 8 August and closing 22 August 2024. Administrative step with no new terms.
6 Aug 2024capital raising announcement● Neutral
The institutional entitlement offer is complete, with about 59.3 million shares at $0.05 raising about $3.0 million. Together with the $2.0 million placement, about $5.0 million of the up to $8.9 million target is secured; the retail offer remains open.
What it means for a shareholder
59.3m new shares at A$0.050 to raise about A$3.0m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00729% to 0.006% of the company. To keep it you'd need 4,325 more shares - about A$216 at the issue price.
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5 Aug 2024capital raising announcement● Neutral
Prospectus for the retail part of the entitlement offer: up to about 137 million new shares at $0.05 to raise about $6.85 million, with attaching options. Not underwritten; closes 22 August 2024. Repeats terms already announced.
What it means for a shareholder
137m new shares at A$0.050 to raise about A$6.8m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00729% to 0.00486% of the company. To keep it you'd need 9,992 more shares - about A$500 at the issue price.
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5 Aug 2024capital raising announcement▼ BadMajor
State Gas is raising up to about $8.9 million at $0.05 per share: a roughly $2.0 million placement and a roughly $6.9 million 1-for-2 entitlement offer, with a free 1-for-2 option at $0.08. The price is a 46.8% discount to the last close, and the funds finish the HDNG plant costs and provide working capital. Much cheaper than the $0.15 raise of August 2023.
5 Sept 2023capital raising announcement● NeutralMajor
The Share Purchase Plan raised $2,385,094 from 163 of 1,429 eligible holders, below the $3 million target, with 15,900,675 shares at $0.15 to be issued 6 September. Funds go to additional drilling and working capital.
What it means for a shareholder
15.9m new shares at A$0.150 to raise about A$2.4m. That's 6.0% dilution: every existing holder's slice gets 6.0% smaller. If you held A$1,000 of shares (6,667 at the issue price), your slice goes from 0.00266% to 0.0025% of the company. To keep it you'd need 423 more shares - about A$63 at the issue price.
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28 Aug 2023capital raising announcement● Neutral
State Gas extended the Share Purchase Plan closing date to 31 August 2023, with results due 5 September. Other terms are unchanged, including the $0.15 price. The Chairman says first gas remains on track for November 2023.
9 Aug 2023capital raising announcement● Neutral
Share Purchase Plan booklet for the capital raising: eligible holders at 7 August can buy up to $30,000 of shares at $0.15, aiming to raise about $3 million. It closes 28 August and shares are issued 1 September. It restates the offer terms already announced.
8 Aug 2023capital raising announcement● NeutralMajor
State Gas raised $5 million in a placement at $0.15 per share, well below October 2022's $0.28 placement. A Share Purchase Plan of up to $3 million at the same price follows. Funds go to the CNG facility, one more well, repaying director loans and working capital.
10 Oct 2022capital raising announcement▲ GoodMajor
State Gas raised $7.0m through a placement of 25,000,000 shares at $0.28, a 20% discount to the last price of $0.35. Trevor and Philip St Baker invest, taking their group to ~12%. Jon Stretch and Philip St Baker join the board. Funds go to Rougemont drilling and testing, CNG trucking and pipeline planning. Directors' $0.18m portion needs AGM approval.
What it means for a shareholder
25.0m new shares at A$0.280 to raise about A$7.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (3,571 at the issue price), your slice goes from 0.0018% to 0.0016% of the company. To keep it you'd need 451 more shares - about A$126 at the issue price.
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24 Sept 2021capital raising announcement● NeutralMajor
State Gas completed an A$8 million placement of 25 million shares at $0.32, a 15.8% discount to the last close and 21.6% below the 30-day VWAP. Funds go to Rougemont-2 production testing and more drilling, Nyanda-8 and Serocold-1 testing, Reid's Dome development, and working capital.
What it means for a shareholder
25.0m new shares at A$0.320 to raise about A$8.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (3,125 at the issue price), your slice goes from 0.00181% to 0.00158% of the company. To keep it you'd need 452 more shares - about A$145 at the issue price.
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27 Oct 2020capital raising announcement▲ GoodMajor
The share purchase plan closed oversubscribed: about $4.9M of valid applications from 246 of 719 eligible holders, against a $2M target, and all were accepted. Combined with the $9.5M placement, State Gas has almost $14.5M for Phase 2 drilling and Rolleston-West.
1 Oct 2020capital raising announcement● Neutral
Offer booklet for the share purchase plan announced 23 September: eligible holders can apply for up to $30,000 of shares at $0.55, a 4.1% discount to the 5-day average price, targeting about $2M. Opens 1 October, closes 22 October. Board may scale back or accept oversubscriptions.
23 Sept 2020capital raising announcement▲ GoodMajor
State Gas raised $9.5M via a placement of 17,272,730 shares at $0.55 to investors including Trevor St Baker, plus a targeted $2M share purchase plan at $0.55. Funds go to drilling at least three new wells and studies. This is its first raising since the roughly $0.65 placements in December 2019.
What it means for a shareholder
17.3m new shares at A$0.550 to raise about A$9.5m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (1,818 at the issue price), your slice goes from 0.00124% to 0.00111% of the company. To keep it you'd need 215 more shares - about A$118 at the issue price.
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19 Dec 2019capital raising announcement▲ GoodMajor
After the Nyanda-4 results, State Gas accepted a further $500,000 of subscriptions at the same $0.65 per share (about 0.77 million shares), taking the December raising to about $1.5 million. Funds are for additional testing and 2020 pilot planning.
What it means for a shareholder
770,000 new shares at about A$1.95 to raise about A$1.5m. That's 0.532% dilution: every existing holder's slice gets 0.532% smaller. If you held A$1,000 of shares (513 at the issue price), your slice goes from 0.000357% to 0.000355% of the company. To keep it you'd need 3 more shares - about A$6 at the issue price.
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11 Dec 2019capital raising announcement● NeutralMajor
State Gas raised about $1 million through an oversubscribed placement at $0.65 per share (about 1.5 million new shares), led by Morgans. Funds go to assessing the drilling campaign and planning the 2020 pilot program. The price is below June's $0.70 placement.
What it means for a shareholder
1.5m new shares at about A$0.6667 to raise about A$1.0m. That's 1.0% dilution: every existing holder's slice gets 1.0% smaller. If you held A$1,000 of shares (1,500 at the issue price), your slice goes from 0.00104% to 0.00103% of the company. To keep it you'd need 16 more shares - about A$11 at the issue price.
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3 June 2019capital raising announcement▲ GoodMajor
State Gas completed a $4.9 million placement at $0.70 per share to a single sophisticated investor, settling by 14 June 2019, with no fees. Funds go to further Reid's Dome drilling and appraisal, to be done before the wet season. Announced alongside Cottee's appointment.
3 June 2019capital raising announcement▲ Good
Addendum to the same-day release: $4.9 million raised at $0.70 per share from a sophisticated investor, settling by 14 June 2019, for further drilling and appraisal at Reid's Dome. Duplicates the placement announcement with a funding-focused heading.
28 Feb 2019capital raising announcement● NeutralMajor
Offers eligible shareholders a Security Purchase Plan of up to $15,000 each, opening 4 March 2019, alongside a company update. Restates the drilling results, 80% interest (registered 4 January 2019), the court action against the 20% holder, and ongoing talks with interested parties.
27 Feb 2019capital raising announcement● NeutralMajor
State Gas raised $500,000 from sophisticated investors at $0.85 per share, settling by 6 March 2019. Funds go to legal costs for the move to 100% of PL 231, costs of pursuing possible transactions, and working capital.
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 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.
