Past year: ▼ 83%(0.30c – 1.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 June 2018capital raising announcement● Neutral
Offer booklet for the 1-for-6 entitlement offer at A$0.10 to raise up to about A$5.49m, partly underwritten by Taylor Collison. Offer runs 20 June to 6 July 2018; new shares quoted around 13 July. Detail of terms already announced on 6 June.
6 June 2018capital raising announcement● NeutralMajor
Tlou raised A$2.5m via a placement of 24.75m shares at A$0.10, and launched a 1-for-6 entitlement offer of up to 54.9m shares at A$0.10 (up to A$5.5m), partly underwritten to A$1.37m. Funds go to production pod drilling in H2 2018 and core-holes.
What it means for a shareholder
24.8m new shares at A$0.100 to raise about A$2.5m. That's 7.0% dilution: every existing holder's slice gets 7.0% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00304% to 0.00282% of the company. To keep it you'd need 751 more shares - about A$75 at the issue price.
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14 Dec 2017capital raising announcement▲ GoodMajor
The Botswana Stock Exchange listing was approved and trading began 13 December 2017. 21,153,845 shares were issued to African Alliance funds at P1.56 (about A$4.1m), resolving the conditional subscription. Issued capital is now 327,196,693 shares.
21 Nov 2017capital raising announcement▲ GoodMajor
Tlou signed conditional deals with African Alliance-managed Botswana funds to subscribe about 21.2m shares at P1.56 (about A$0.20), raising P33m (about A$4.1m). It depends on a Botswana Stock Exchange listing expected mid-December 2017; funds would finish appraisal and begin first-phase development drilling.
What it means for a shareholder
21.2m new shares at about A$0.1934 to raise about A$4.1m. That's 6.5% dilution: every existing holder's slice gets 6.5% smaller. If you held A$1,000 of shares (5,171 at the issue price), your slice goes from 0.00169% to 0.00158% of the company. To keep it you'd need 359 more shares - about A$69 at the issue price.
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26 Apr 2017capital raising announcement● NeutralMajor
The SPP raised about A$0.8m (8.28m shares at A$0.10, no scale-back) and an additional placement of 6.78m shares added about A$0.7m. Total raised since March is A$6.7m. Shares on issue rise to 304.04m. Funds go to seismic, cored wells and licensing.
What it means for a shareholder
8.3m new shares at A$0.100 to raise about A$800,000. That's 2.8% dilution: every existing holder's slice gets 2.8% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00346% to 0.00336% of the company. To keep it you'd need 287 more shares - about A$29 at the issue price.
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11 Apr 2017capital raising announcement● Neutral
The Share Purchase Plan from the March raising, at A$0.10 per share with A$1,000-A$15,000 applications, was extended from 13 April to 21 April 2017 to allow for the Easter holidays. Administrative timetable change only.
27 Mar 2017capital raising announcement● NeutralMajor
Tlou raised A$5.2m by placing 51.79m shares at A$0.10 (17.9% of enlarged capital), a 12-19% discount to the 10-day average price. Funds go to 2D seismic, shallow cored wells, licensing studies and Selemo testing. An SPP of up to A$2m was also offered. Shares on issue rise to 288.99m.
What it means for a shareholder
51.8m new shares at A$0.100 to raise about A$5.2m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.00422% to 0.00346% of the company. To keep it you'd need 2,183 more shares - about A$218 at the issue price.
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31 Aug 2016capital raising announcement● NeutralMajor
Tlou raised A$3m through a placement of 31.58m shares at A$0.095 (15.4% of shares), a 9-19% discount to the 20-day average. IK Botswana Investments takes 7.115m shares. Funds go to Selemo testing, first reserves certification and licence approvals; ends the run of falling cash.
What it means for a shareholder
31.6m new shares at A$0.095 to raise about A$3.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (10,526 at the issue price), your slice goes from 0.00512% to 0.00444% of the company. To keep it you'd need 1,617 more shares - about A$154 at the issue price.
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4 Dec 2015capital raising announcement▲ GoodMajor
Tlou began trading on London's AIM on 30 November 2015 (ticker TLOU), alongside ASX. It placed 18,462,973 shares at A$0.14 (£0.065), raising about A$2.6m, completing the dual listing and the minimum placement announced in October.
What it means for a shareholder
18.5m new shares at A$0.140 to raise about A$2.6m. That's 8.2% dilution: every existing holder's slice gets 8.2% smaller. If you held A$1,000 of shares (7,143 at the issue price), your slice goes from 0.00347% to 0.00319% of the company. To keep it you'd need 641 more shares - about A$90 at the issue price.
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28 Oct 2015capital raising announcement▲ GoodMajor
Tlou is dual listing on London's AIM (expected about 30 November 2015, ticker TLOU) with a placement of up to £1.5m, £1.2m (A$2.6m) committed, at £0.065 or A$0.14 per share. Conditional on shareholder approval at the 27 November AGM and AIM admission.
25 June 2015capital raising announcement▲ GoodMajor
The A$5.5m entitlement offer at A$0.14 is complete. Valid applications covered 61% of shares offered (about A$3.3m); sub-underwriters took the A$2.2m shortfall. Funds the expanded Selemo drilling, overheads and working capital. New shares allot 29 June.
26 May 2015capital raising announcement● Neutral
Letter telling ineligible (mostly overseas) shareholders they cannot take part in the entitlement offer and get no value for their entitlements. Post-offer shares are expected to reach 187,156,138 (up 39.4m). Administrative.
25 May 2015capital raising announcement● Neutral
Standard notice to option holders: they must exercise options before the 29 May record date if they want to take part in the entitlement offer. No new terms; administrative.
25 May 2015capital raising announcement● Neutral
Offer booklet for the 4-for-15 entitlement offer at A$0.14 raising about A$5.5m. It opens 3 June and closes 22 June 2015. Repeats terms already announced; administrative documentation.
25 May 2015capital raising announcement● NeutralMajor
Tlou launched a fully underwritten 4-for-15 entitlement offer at A$0.14 per share to raise about A$5.5m, a 30% discount to the last price of A$0.20. Underwritten by Morgans, it funds up to two flanking Selemo pilot pods and a possible step-out well.
27 Dec 2013capital raising announcement▲ GoodMajor
The retail offer raised about A$4.8m, completing the A$13.4m raising at A$0.30. Valid applications covered 75% of the 16m shares offered (A$3.6m); underwriters or sub-underwriters took the roughly 4m-share (A$1.2m) shortfall. Shares issue 27 December, trading 30 December.
What it means for a shareholder
16.0m new shares at about A$0.300 to raise about A$4.8m. That's 36% dilution: every existing holder's slice gets 36% smaller. If you held A$1,000 of shares (3,333 at the issue price), your slice goes from 0.0117% to 0.00747% of the company. To keep it you'd need 1,864 more shares - about A$559 at the issue price.
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4 Dec 2013capital raising announcement● Neutral
Retail entitlement offer booklet: 1 new share for every 4 held at A$0.30, raising about A$4.8m, open 4 to 19 December 2013 and fully underwritten. This is the final stage of the A$13.4m raising.
29 Nov 2013capital raising announcement▲ GoodMajor
The A$5.7m placement (19m shares) and A$2.9m institutional entitlement component (about 9.6m shares) at A$0.30 are complete. The full A$13.4m raising is underwritten by Morgans and Integra, with directors Gilby, Mitchell and McIver sub-underwriting up to A$992,232, A$300,000 and A$30,000. Retail offer opens 4 December.
What it means for a shareholder
9.6m new shares at A$0.300 to raise about A$2.9m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held A$1,000 of shares (3,333 at the issue price), your slice goes from 0.0117% to 0.00872% of the company. To keep it you'd need 1,119 more shares - about A$336 at the issue price.
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27 Nov 2013capital raising announcement● NeutralMajor
Tlou launches an equity raising of up to about A$13.4m at A$0.30 a share: a A$5.7m placement plus a 1-for-4 entitlement offer of up to A$7.7m. Funds an expanded Karoo Central pilot and core hole program and working capital, confirming the funding need flagged at the AGM. Issue price is a 25% discount to the last price of A$0.40.
2 Apr 2013capital raising announcement▲ GoodMajor
Tlou Energy issued a replacement prospectus for its ASX listing, offering 20 million new shares at $0.50 to raise $10 million. This is the company's route onto the ASX.
What it means for a shareholder
20.0m new shares at A$0.500 to raise about A$10.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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