Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Mar 2014capital raising announcement● Neutral
Strike confirmed the 105,977,949 placement shares at $0.12 (about $12.7m) were issued on 20 March 2014. This is the compliance notice and share issue form for the 13 March raising. Shares quoted on ASX now total 812,497,613.
13 Mar 2014capital raising announcement▲ GoodMajor
Strike raised $12.7m through a placement of 105,977,949 shares at $0.12 to institutional investors, led by Bell Potter. Funds go to accelerate Southern Cooper Basin appraisal, with fracture stimulation of Le Chiffre 1, Klebb 1 and Davenport 1 expected from May.
What it means for a shareholder
106m new shares at A$0.120 to raise about A$12.7m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.00118% to 0.00103% of the company. To keep it you'd need 1,254 more shares - about A$150 at the issue price.
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1 Aug 2013capital raising announcement▲ GoodMajor
Strike raised $9.2m by placing 92m shares at $0.10, a 20% discount to the 29 July close; 2m shares to directors need shareholder approval. It funds the three-well PEL 96 appraisal, with drilling from November 2013 and pilot production from April 2014.
What it means for a shareholder
92.0m new shares at A$0.100 to raise about A$9.2m. That's 56% dilution: every existing holder's slice gets 56% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0139% to 0.0061% of the company. To keep it you'd need 12,802 more shares - about A$1,280 at the issue price.
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28 Mar 2012capital raising announcement▲ GoodMajor
Strike raises $20m via a placement of 117.6m shares at $0.17, a 13% discount to the last close. 45.8m shares issue now; 71.9m need approval at a meeting around 4 May. Funds Cooper follow-up and Eagle Ford drilling. Eagle Ford acreage heads to about 9,400 net acres. Price is well above the January $0.10 raising.
What it means for a shareholder
118m new shares at A$0.170 to raise about A$20.0m. That's 65% dilution: every existing holder's slice gets 65% smaller. If you held A$1,000 of shares (5,882 at the issue price), your slice goes from 0.00934% to 0.00326% of the company. To keep it you'd need 10,985 more shares - about A$1,867 at the issue price.
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30 Jan 2012capital raising announcement▲ Good
The entitlement offer closed with about 70% of entitlements taken up (21.1m of 31.1m shares). Top-up applications of 41.4m shares were 4.16 times the ~10m share shortfall, so top-up applicants will get about one share for every four applied for.
18 Jan 2012capital raising announcement▲ Good
Strike secures $2m of unconditional underwriting for the entitlement offer, with about $1.1m already accepted or pre-committed by major holders. This covers the rest of the ~$3.1m sought; underwriting fee is 5%. Resolves the offer's earlier 'not underwritten' status.
22 Dec 2011capital raising announcement● Neutral
Notice to optionholders of the entitlement offer. Options carry no right to join the offer unless exercised and shares allotted before the 9 January record date. Otherwise repeats known terms.
22 Dec 2011capital raising announcement● Neutral
Standard notice to shareholders on the entitlement offer: record date 9 January 2012, up to 31,054,468 shares at $0.10. Rights cannot be sold, and the top three holders (about 22%) have committed to take up their shares. Repeats the 21 December terms.
What it means for a shareholder
31.1m new shares at A$0.100 to raise about A$3.1m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0159% to 0.0106% of the company. To keep it you'd need 4,931 more shares - about A$493 at the issue price.
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21 Dec 2011capital raising announcement● Neutral
Managing Director's letter to shareholders restates the $5.6m raising at 10 cents and urges participation in the entitlement offer. It says the company is working on longer-term funding options and flags raising capital at low prices. No new figures.
21 Dec 2011capital raising announcement▼ BadMajor
Strike raises $5.6m at $0.10 a share: a $2.5m placement (25m shares) plus a 1-for-15 non-renounceable offer for up to $3.1m, not underwritten. Funds go to Eagle Ford and Cooper. It says significant further funding is needed and cost cuts are underway. Price is well below August's $0.15.
21 Dec 2011capital raising announcement● Neutral
Formal offer document for the 1-for-15 entitlement offer at $0.10. It opens 11 January and closes 25 January 2012. It is not a prospectus; it restates terms already announced.
23 Aug 2011capital raising announcement● Neutral
26,645,176 rights issue shares were allotted on 22 August, lifting issued capital to 404,487,370. The 36,329,655-share shortfall will be allotted after the underwriters place it on 26 August.
19 Aug 2011capital raising announcement▲ GoodMajor
The $16.8m raising is complete. Holders took up 26.6m shares (about 42%) of the $9.4m rights issue; underwriters Blackswan and Carnegie cover the 36.3m-share shortfall and receive 3m options each at $0.20, subject to shareholder approval at the 17 Nov AGM.
2 Aug 2011capital raising announcement● Neutral
Confirms the entitlement offer document was sent to eligible shareholders on 2 August 2011. Administrative notice only.
21 July 2011capital raising announcement● Neutral
Standard letter to optionholders on the rights issue. Options carry no right to participate unless exercised and shares allotted before the 28 July record date. Repeats known terms; no new information.
21 July 2011capital raising announcement● Neutral
Re-lodgement of the optionholder letter on the rights issue, with the same content as the earlier letter. No new information.
21 July 2011capital raising announcement● Neutral
Standard shareholder letter on the rights issue: 1-for-6 at $0.15, up to about 62.97m shares raising up to $9.44m, underwritten (5% fee). Only Australian and NZ holders are eligible. Repeats the 13 July terms; no new information.
What it means for a shareholder
63.0m new shares at about A$0.1499 to raise about A$9.4m. That's 50% dilution: every existing holder's slice gets 50% smaller. If you held A$1,000 of shares (6,671 at the issue price), your slice goes from 0.0106% to 0.0053% of the company. To keep it you'd need 6,670 more shares - about A$1,000 at the issue price.
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20 July 2011capital raising announcement● Neutral
Offer document for the entitlement offer: 1 new share for every 6 held at $0.15, opening 2 August and closing 16 August 2011. Follows the 13 July raising; it adds terms but no new development.
13 July 2011capital raising announcement● NeutralMajor
Strike is raising $16.8m: a $7.39m placement (about half taken by M H Carnegie) plus a fully underwritten entitlement offer, for US Eagle Ford and Wilcox Slope work and working capital. MD Simon Ashton intends to step down; director David Wrench is in talks to become CEO.
24 Oct 2007capital raising announcement● Neutral
The final 16.9m shortfall shares were issued, completing the entitlement issue. It raised A$10.05m in total and lifts shares on issue to 327,158,430.
23 Oct 2007capital raising announcement● Neutral
29.8m entitlement shares were issued on 19 October, taking shares on issue to 310.2m. The remaining 16.9m shortfall shares are due on 24 October.
16 Oct 2007capital raising announcement● Neutral
The entitlement issue closed with 61% taken up: 28.3m shares at 21.5c, raising A$6.09m. The 18.4m-share shortfall is being placed by the directors, since the issue was not underwritten.
What it means for a shareholder
28.3m new shares at A$0.215 to raise about A$6.1m. That's 45% dilution: every existing holder's slice gets 45% smaller. If you held A$1,000 of shares (4,651 at the issue price), your slice goes from 0.0137% to 0.00747% of the company. To keep it you'd need 3,871 more shares - about A$832 at the issue price.
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21 Sept 2007capital raising announcement● Neutral
Cover note lodging the entitlement information document sent to shareholders. It is an administrative filing with no new information beyond the 12 September announcement.
21 Sept 2007capital raising announcement● Neutral
Cover letter sending shareholders the entitlement issue invitation: 1 new share for every 6 at 21.5c, closing 8 October. It restates the terms and funding use announced on 12 September, with no new information.
12 Sept 2007capital raising announcement● NeutralMajor
Strike details its A$10m non-renounceable 1-for-6 entitlement issue: about 46.7m shares at 21.5c, a 14% discount, not underwritten. Proceeds fund part of the Rayburn drilling programme. Total shares would rise to about 327m. Record date 20 September, closing 8 October.
What it means for a shareholder
46.7m new shares at A$0.215 to raise about A$10.0m. That's 58% dilution: every existing holder's slice gets 58% smaller. If you held A$1,000 of shares (4,651 at the issue price), your slice goes from 0.0137% to 0.00576% of the company. To keep it you'd need 6,389 more shares - about A$1,374 at the issue price.
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3 Sept 2007capital raising announcement▲ GoodMajor
The board approves a US$15m (net) Gulf Coast programme of six mostly development wells from October 2007, and plans an A$10m entitlement issue (details to follow). Funding also includes Mesquite cash flow, Rayburn revenue and a possible small debt facility. Targets revenue above US$20m in 2008/09.
4 Apr 2007capital raising announcement● NeutralMajor
Strike plans a private placement of 34 million shares at 26c to raise A$8.84m, lifting shares to about 279.9m. It cites funding Rayburn (500 Bcf), finishing McGall 1 and A$2.7m of cost overruns on three recent wells.
What it means for a shareholder
34.0m new shares at A$0.260 to raise about A$8.8m. That's 52% dilution: every existing holder's slice gets 52% smaller. If you held A$1,000 of shares (3,846 at the issue price), your slice goes from 0.012% to 0.00583% of the company. To keep it you'd need 4,095 more shares - about A$1,065 at the issue price.
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17 Jan 2007capital raising announcement▲ GoodMajor
The 1-for-10 entitlement issue at 22 cents closed, raising $4,917,808 before costs. Acceptances were 17,915,219 shares ($3.94m); the remaining 4,438,454 shares ($976k) go to shortfall applicants. Allotment is 18 January. This completes the raising proposed on 29 November.
29 Nov 2006capital raising announcement● NeutralMajor
Strike announces a smaller one-for-ten entitlement issue at 22 cents to raise about $4.9m, replacing the withdrawn $8m offer. Funds go to Mesquite work including a shallow gas well, Gulf Coast seismic and Florence.
23 Nov 2006capital raising announcement▼ BadMajor
Strike withdraws its 7 November entitlement issue after the Mesquite operator deferred the Shefcik 2 and 4 wells, possibly for up to 12 months, following inconclusive Webernick 2 shallow-zone tests. Mesquite output stays at 10-11 mmcf/d, not 15. Funding is under review.
