13 Nov 2006capital raising announcement● Neutral
Strike lodges the prospectus for its one-for-seven entitlement issue at 25 cents, raising up to $7,983,454. It needs a minimum of $2.1m, is not underwritten, and closes 7 December 2006.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2006capital raising announcement● NeutralMajor
Strike announces a one-for-seven non-renounceable entitlement issue at 25 cents to raise up to $7,983,455, to fund expanded US work: Mesquite development (Shefcik 2 and 4), more Gulf Coast seismic and Florence. Follows the September quarter's cash and spending estimates.
31 Mar 2006capital raising announcement▲ GoodMajor
The entitlement issue closed with 72% take-up (26,977,847 shares), and the shortfall of 10,135,358 shares was placed with existing shareholders. The full $10,391,697 was raised at 28 cents. Shares were allotted 31 March.
28 Feb 2006capital raising announcement● Neutral
Prospectus lodged for the 1-for-5 entitlement issue at 28 cents, up to $10.39 million, with a $2.5 million minimum. Not underwritten; closes 28 March. Entitlements cannot be sold and lapse if unused. Administrative follow-up to the 24 February announcement.
24 Feb 2006capital raising announcement● NeutralMajor
Strike announced a one-for-five non-renounceable entitlement issue at 28 cents to raise up to about $10.4 million (up to 37.1 million shares). Funds are for expanding Mesquite gas development and nearby exploration in Texas. It follows the 18 cent placement in January.
What it means for a shareholder
37.1m new shares at about A$0.2803 to raise about A$10.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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25 Jan 2006capital raising announcement● Neutral
Strike allotted the 22 million shares on 20 January 2006, completing the placement announced on 11 January. Administrative confirmation only.
11 Jan 2006capital raising announcement▲ GoodMajor
Strike secured firm commitments for a 22 million share placement at 18 cents per share, about $3.96 million (calculated from text). Funds go to testing and developing the Mesquite gas discoveries and drilling Shefcik 2 in Texas.