Each one in plain English, with the numbers worked through for a shareholder.
23 Aug 2024capital raising announcement● NeutralMajor
Raised A$995,787 by placing 28.45m shares at A$0.035, from directors, family and sophisticated investors. 12.25m director shares need shareholder approval at a meeting around 25 September. Gilby, Swire and Cloonan are subscribing. Funds go to Lesedi.
What it means for a shareholder
28.4m new shares at A$0.035 to raise about A$995,787. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00454% of the company. To keep it you'd need 1,354 more shares - about A$47 at the issue price.
A second shortfall placement raised A$560,000 (16m shares at A$0.035), taking the total entitlement offer to about A$7.9m. The company will place no further shortfall, leaving 153.5m shares unplaced. Shares on issue rise to 1,270,133,251.
What it means for a shareholder
16.0m new shares at A$0.035 to raise about A$560,000. That's 2.6% dilution: every existing holder's slice gets 2.6% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00464% of the company. To keep it you'd need 762 more shares - about A$27 at the issue price.
26 Mar 2024capital raising announcement▲ GoodMajor
Placed 177.6m shortfall shares at A$0.035 for about A$6.2m. Botswana Public Officers Pension Fund took 161.3m (BWP50m) and now holds 16.63%. Another 169.5m shares can be placed before 30 April 2024. Funds go toward first power at Lesedi.
The A$13.3m entitlement offer was heavily undersubscribed: only A$1.14m (32.6m shares) taken up, leaving a ~A$12.1m shortfall. Directors took A$673k; largest holder ILC did not participate, preferring debt support. Directors are talking to Botswana and UK investors about placing the shortfall.
Closing date of the A$13.3m, A$0.035 entitlement offer extended from 12 January to 31 January 2024 to give holders more time. Funds are mainly for Lesedi grid connection.
15 Dec 2023capital raising announcement● NeutralMajor
Launched a non-renounceable entitlement offer of 4 new shares for every 11 held at A$0.035 to raise up to about A$13.3m, for ASX and BSE holders only. Directors commit at least A$613,308. Funds target Lesedi grid connection and working capital.
Letter telling shareholders outside Australia, New Zealand and Botswana they cannot join the 4-for-11 A$0.035 offer (about A$13.3m). Administrative; no new terms. Full take-up would lift shares to 1,423,612,305.
Offer booklet for the 4-for-11 A$0.035 entitlement offer (up to about A$13.3m). Offer closes 12 January 2024 (ASX). Booklet follows the launch announcement of the same date; no new terms provided in the text shown.
Raised A$678,977 through a placement of 19.4m new shares at A$0.035 from Australian and UK sophisticated investors, for Lesedi development. Price was a 25% premium to the A$0.028 close. Shares on issue rise to 1,043,982,357. A small top-up after the June offer.
What it means for a shareholder
19.4m new shares at A$0.035 to raise about A$678,977. That's 3.1% dilution: every existing holder's slice gets 3.1% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00461% of the company. To keep it you'd need 924 more shares - about A$32 at the issue price.
20 June 2023capital raising announcement● NeutralMajor
Entitlement offer raised about A$6.58m of a possible A$10.65m: A$1.58m from shareholders (14.8% take-up) plus A$5m from underwriter ILC. ILC rises to about 34.85%, with 1,025,583,022 shares after issue. Resolves the open offer; shortfall of roughly A$9.06m.
The entitlement offer closing date was extended from 8 June to 15 June 2023 (ASX), with results now due 20 June and new shares trading 23 June. Offer terms and the A$0.035 price are unchanged. A timetable change only.
Offer documents for the 4-for-11 A$0.035 entitlement offer (up to A$10.65m) were posted to eligible shareholders in the UK, Botswana, Australia and NZ. Closing date stays 8 June. Administrative step in the offer launched 12 May.
12 May 2023capital raising announcement● NeutralMajor
Launched a partially underwritten entitlement offer of 4 new shares for every 11 held at A$0.035, raising up to A$10.65m; ILC Investments underwrites A$5m. Directors commit at least A$392,760. Target is first power in 2Q 2024. Follows the A$2m ILC loan.
Raised A$200,000 by placing 5,714,284 shares at A$0.035 to Australian sophisticated investors, a 5.4% discount to last close. Total shares become 836,429,994. A small top-up at the same price as the Campbell raisings.
What it means for a shareholder
5.7m new shares at A$0.035 to raise about A$200,000. That's 0.943% dilution: every existing holder's slice gets 0.943% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00472% of the company. To keep it you'd need 272 more shares - about A$10 at the issue price.
After shareholder approvals on 18 January 2023, 87,653,278 shares were issued at A$0.035 under the December placement of about A$3.07m. Completes the raising announced on 15 December.
What it means for a shareholder
87.7m new shares at A$0.035 to raise about A$3.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00415% of the company. To keep it you'd need 4,173 more shares - about A$146 at the issue price.
15 Dec 2022capital raising announcement● NeutralMajor
Firm commitments for about A$3.07m via 87,796,135 shares at A$0.035, a 12.5% discount to last close, mainly from Dr Campbell's entity (A$2.5m) plus directors and others. Subject to a January 2023 shareholder vote; would take Campbell to 25.79%. Expert calls it 'not fair but reasonable'. Funds are for gas production wells.
What it means for a shareholder
87.8m new shares at A$0.035 to raise about A$3.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00415% of the company. To keep it you'd need 4,179 more shares - about A$146 at the issue price.
11 Nov 2022capital raising announcement▲ GoodMajor
A second Campbell-entity placing raised A$3m via 85,714,286 shares at A$0.035, lifting his holding to 19.23% and total shares to 743.1m. He may nominate a director; a drilling campaign is planned for 2023. Follows the A$2m placing a week earlier.
What it means for a shareholder
85.7m new shares at A$0.035 to raise about A$3.0m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00417% of the company. To keep it you'd need 4,080 more shares - about A$143 at the issue price.
Raised A$2m placing 57,142,857 shares at A$0.035 with a new strategic investor, Dr Ian Campbell (8.69% holding), at a 34.6% premium to the last close. Funds are for Lesedi development including substations; a further tranche is under negotiation. Addresses the funding gap.
What it means for a shareholder
57.1m new shares at A$0.035 to raise about A$2.0m. That's 8.7% dilution: every existing holder's slice gets 8.7% smaller. If you held A$1,000 of shares (28,571 at the issue price), your slice goes from 0.00476% to 0.00435% of the company. To keep it you'd need 2,720 more shares - about A$95 at the issue price.
17 Mar 2021capital raising announcement▲ GoodMajor
Tlou raised about £2.625m (~A$4.725m) by placing 75,000,000 shares at £0.035 (~A$0.063), a ~21% discount to the last ASX close. Funds go to the 66kV transmission line to Serowe, and construction tender responses are in, so work can start without waiting for the larger financing.
What it means for a shareholder
75.0m new shares at £0.035 to raise about £2.6m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held £1,000 of shares (28,571 at the issue price), your slice goes from 0.00544% to 0.00476% of the company. To keep it you'd need 4,080 more shares - about £143 at the issue price.
24 July 2020capital raising announcement▲ GoodMajor
The shortfall was placed: 6,350,000 shares at A$0.04 raised about A$0.25m, completing the full A$3.0m entitlement offer. Placees get one A$0.08 option per two shares, and the underwriter gets 10 million options. Share count rises to 513,277,061.
What it means for a shareholder
6.3m new shares at A$0.040 to raise about A$250,000. That's 1.4% dilution: every existing holder's slice gets 1.4% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.00555% to 0.00548% of the company. To keep it you'd need 353 more shares - about A$14 at the issue price.
16 July 2020capital raising announcement▲ GoodMajor
Entitlement offer closed with about A$2.75m of applications at A$0.04, including about A$0.88m from sub-underwriters and directors. The remaining ~A$0.25m is to be placed. Funds go to detailed transmission line design and development finance. Directors' excess shares need shareholder approval.
Reminder that the 1-for-6 entitlement offer at A$0.04 (about A$3.0m) is closing soon. CREST applications for AIM holders must settle by 11am Friday 10 July. No new information.
Entitlement offer booklet and personalised forms were posted to eligible shareholders for the 1-for-6 offer announced 15 June. Administrative despatch, with CREST identifiers; no new terms or figures.
Offer booklet for the entitlement offer announced 15 June: up to 75,030,031 shares at A$0.04, one option per two shares. Opens 25 June, closes 13 July 2020; new shares expected to trade 21 July. Documentation of known terms.
What it means for a shareholder
75.0m new shares at A$0.040 to raise about A$3.0m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.00555% to 0.00476% of the company. To keep it you'd need 4,167 more shares - about A$167 at the issue price.
15 June 2020capital raising announcement● NeutralMajor
Partially underwritten entitlement offer of 1 share for every 6 at A$0.04 to raise up to about A$3.0m, with a free option (A$0.08, two years) per two shares. Melbourne Capital underwrites A$2.0m; directors commit A$750k. Funds go to 66kV line design and funding due diligence. Offer price is well below the 2019 raisings at A$0.10.
Tlou raised BWP21.8m (~A$2.9m) from Botswana investors, issuing 29,066,650 shares at BWP0.75 (~A$0.10). The Botswana Public Officers Pension Fund took 28m shares, lifting it to 10.49%. Total shares rise to 450,180,185.
Administrative notice for the 8 April placement: 12,000,000 shares issued at A$0.10 under the 7.1A capacity, diluting existing holders by about 2.85%. No new information beyond the placement already announced.
What it means for a shareholder
12.0m new shares at A$0.100 to raise about A$1.2m. 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 0.00237% to 0.00231% of the company. To keep it you'd need 285 more shares - about A$29 at the issue price.
Tlou raised about A$1.2m via 12,000,000 shares at A$0.10 (about a 5% premium to the last close) from two existing shareholders, escrowed 12 months. Management says it removes near-term funding pressure. The tender outcome is expected in coming weeks.
What it means for a shareholder
12.0m new shares at A$0.100 to raise about A$1.2m. 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 0.00244% to 0.00237% of the company. To keep it you'd need 293 more shares - about A$29 at the issue price.
11 July 2018capital raising announcement▲ GoodMajor
Entitlement offer closed: A$3.7m of applications for 37.16m shares at A$0.10, and brokers placed the 17.75m-share shortfall for about A$1.8m. With the June placement, Tlou has raised about A$8m, with projected cash of about A$12.4m, and plans up to three production pods this year.
What it means for a shareholder
37.2m new shares at A$0.100 to raise about A$3.7m. That's 8.8% dilution: every existing holder's slice gets 8.8% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.0026% to 0.00237% of the company. To keep it you'd need 967 more shares - about A$97 at the issue price.
Tlou issued the 24,752,582 placement shares at A$0.10 (about A$2.475m), completing the placement announced on 6 June. The notice is the required compliance statement.
