15 May 2014capital raising announcement● Neutral
Administrative notice that the entitlement issue prospectus has been dispatched to shareholders. Terms are unchanged: 10 shares for every 1 held at 1 cent, up to about $6.4m.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 May 2014capital raising announcement● Neutral
Replacement prospectus lodged 9 May 2014 for the same 10-for-1 entitlement issue at 1 cent, up to $6,396,024.90. It replaces the 5 May document; the timetable is unchanged. The text shown does not say what changed.
7 May 2014capital raising announcement● Neutral
Shareholder letter on the 10-for-1 entitlement issue at 1 cent, up to $6.4m. Offer is open 15 to 26 May 2014 and needs no shareholder approval. Repeats the prospectus, with no new terms.
6 May 2014capital raising announcement● Neutral
Letter tells option holders of a 10-for-1 renounceable entitlement issue at 1 cent to raise up to $6,396,024.90. It would clear $1.23m of creditors and debt and lift cash to about $4.7m. Options must be exercised before 12 May to participate.
6 May 2014capital raising announcement● NeutralMajor
Prospectus for a 10-for-1 renounceable entitlement issue at 1 cent, raising up to $6,396,024.90, partly underwritten. Funds would repay $1.23m of debt and creditors and fund a new project. Shares would rise from about 64m to 703.6m. Detail is in the next notice.
9 Aug 2011capital raising announcement● Neutral
Supplementary prospectus extends the option offer close to 12 August 2011 and updates the capital table. If fully subscribed, the 3.2bn options add $282,818 of cash after expenses. Administrative change.
2 Aug 2011capital raising announcement● Neutral
Completes the $1.5m placement of 1.5bn shares at $0.001 and issues 2.2bn Warren vendor shares, escrowed to 2 August 2012. Finalises the August placement and Warren acquisition; total ordinary shares now 6,395,906,280.
1 Aug 2011capital raising announcement● Neutral
Prospectus offers up to 3.2bn options at $0.0001 each, exercisable at $0.005 with a four-year life, to raise up to $320,000. Small raising that follows the August share placement; offer closes 9 August.
4 Jan 2011capital raising announcement▲ GoodMajor
Rights issue closed with applications for 1,630,344,344 shares, raising $1.63m, leaving a shortfall of 464,060,680 shares. The company says applications well exceed the shortfall and expects to place it, plus the 78m placement, shortly.
10 Dec 2010capital raising announcement● Neutral
Repeat compliance notice for the rights issue (4-for-1 at $0.001, up to about $2.1m, record date 8 December). Says the offer document will be mailed 13 December. No new information.
2 Dec 2010capital raising announcement● Neutral
Letter to shareholders restating the rights issue: up to 2,094,400,024 shares at $0.001 to raise $2.094m, used to retire debt and fund working capital. A 78m-share placement follows; maximum shares after both would be 2,696,000,030. Timetable closes 29 December.
30 Nov 2010capital raising announcement● Neutral
Formal notice and offer document for the 4-for-1 rights issue at $0.001, up to about 2.094bn shares to raise about $2.1m. Record date 8 December 2010; offer opens 13 December and closes 29 December. Confirms the plan announced on 16 November.
What it means for a shareholder
2.09bn new shares at about A$0.001 to raise about A$2.1m. That's 50% dilution: every existing holder's slice gets 50% smaller. If you held A$1,000 of shares (997,143 at the issue price), your slice goes from 0.0476% to 0.0238% of the company. To keep it you'd need 996,952 more shares - about A$1,000 at the issue price.
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16 Nov 2010capital raising announcement● NeutralMajor
Kilgore plans a renounceable 4-for-1 rights issue at $0.001 a share, raising almost $2.1m if fully taken up, plus a 78m-share placement for $78,000. Funds are for debt and working capital. Galveston 307 restarted on 1 November, at 6.7 mmcf/d combined.
14 Dec 2009capital raising announcement▲ Good
Kilgore confirms all rights issue shortfall securities have been placed, completing the first stage of the raise. The closing date for the share and option placements is extended to 22 December 2009.
10 Dec 2009capital raising announcement● Neutral
Amended rights issue result after reconciliation: 83.09m shares with 41.45m free options allotted, raising $830,906. The shortfall is revised to 27.71m shares ($277,094), still to be placed.
4 Dec 2009capital raising announcement● Neutral
Rights issue result: shareholders took up 82.8m shares, raising $828,266 of a possible $1.108m. The 27.97m-share shortfall ($279,734) is to be placed, so take-up was about three quarters of the offer.
18 Nov 2009capital raising announcement● Neutral
Administrative confirmation that the rights issue prospectus, supplementary prospectus and entitlement form have been sent to shareholders. The offer closes 2 December 2009.
17 Nov 2009capital raising announcement● Neutral
Prospectus for the share and option placement: up to 250m shares at $0.01 with 1 free option per 2 shares, raising up to $2.5m, closing 15 December 2009. This is the second stage of the announced raise.
17 Nov 2009capital raising announcement● Neutral
Prospectus for the option placement: up to 275m options at $0.002, raising up to $550,000, closing 15 December 2009. This is the third stage of the announced raise.
12 Nov 2009capital raising announcement● Neutral
Supplementary prospectus sets use of funds from the $4.158m total raise: $720,000 for GAL307 facilities, $1.75m to repay the Odin loan, $1.41m working capital. If under-subscribed, any Odin shortfall is paid from the GAL307 sale.
5 Nov 2009capital raising announcement● Neutral
Letter to shareholders on the rights issue: up to 110.8m shares and 55.4m options, raising up to $1.108m, with record date 13 November and close 2 December. Indian Ocean Capital is lead manager. Administrative restatement of the prospectus terms.
4 Nov 2009capital raising announcement● Neutral
Prospectus lodged for the rights issue: 1 share per share held at $0.01, with 1 free option per 2 shares, closing 2 December 2009. It is not underwritten and is the first stage of the previously announced raise.
22 Sept 2009capital raising announcement● NeutralMajor
Kilgore plans a three-stage $4.1m raise at $0.01 per share: a $1.108m 1-for-1 rights issue, a $2.5m placement of 250m shares, and a $0.55m placement of 275m options at $0.002. Funds go to GAL307 facilities, debt retirement, acquisitions and working capital.
5 June 2008capital raising announcement● NeutralMajor
Kilgore Oil and Gas (ASX: KOG) lodged its prospectus on 26 May 2008 seeking to raise up to $10 million by issuing 50 million shares at $0.20 each, ahead of an ASX listing. The offer is described as speculative; the opening text is partly unreadable.
What it means for a shareholder
50.0m new shares at A$0.200 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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