Each one in plain English, with the numbers worked through for a shareholder.
14 June 2016capital raising announcement● Neutral
Appendix 3B for the 300,000,000 shares issued 14 June at 1.0c for working capital, under the 31 May approval. Shares on issue rise to 596,327,118. Administrative paperwork for the $3m placement.
What it means for a shareholder
300m new shares at A$0.010 to raise about A$3.0m. That's 50% dilution: every existing holder's slice gets 50% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.0337% to 0.0168% of the company. To keep it you'd need 101,239 more shares - about A$1,012 at the issue price.
14 June 2016capital raising announcement▲ GoodMajor
Xstate placed 300 million shares at 1.0c to raise $3.0m, the raising shareholders approved on 31 May. Sanston clients took it, reported as 3x oversubscribed. Funds are mainly for California acquisitions; due diligence on producing oil assets continues, none named.
What it means for a shareholder
300m new shares at A$0.010 to raise about A$3.0m. That's 50% dilution: every existing holder's slice gets 50% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.0337% to 0.0168% of the company. To keep it you'd need 101,239 more shares - about A$1,012 at the issue price.
The 58,265,423 placement shares at 0.5c were issued, raising $291,327 as announced on 7 April. Shares on issue rise from 238.1m to 296.3m; the company states dilution of 8.69% for the 7.1A portion. Completes the placement.
Xstate raised $416,327: a $291,327 placement of 58.3m shares at 0.5c (25% of equity) plus a $125,000 convertible note at 0.5c, 8% coupon, 6 months, subject to shareholder approval. Funds go to due diligence on three US acquisitions. Priced above the 0.3c share purchase plan (SPP).
The share purchase plan raised $164,798, above the $150,000 target. Directors accepted oversubscriptions up to the maximum 54,932,510 shares. That is roughly 30% more shares on a base of about 180 million, so existing holders who did not take part are diluted.
What it means for a shareholder
54.9m new shares at about A$0.003 to raise about A$164,798. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held A$1,000 of shares (333,332 at the issue price), your slice goes from 0.182% to 0.14% of the company. To keep it you'd need 99,988 more shares - about A$300 at the issue price.
Offer booklet for the share purchase plan announced 21 August: $1,000 to $15,000 per shareholder at $0.003, capped at $150,000, with a ceiling of 54,938,755 shares (30% of capital). Closes 11 September. Repeats announced terms; no new substance.
21 Aug 2015capital raising announcement● NeutralMajor
Xstate offers a share purchase plan to raise up to $150,000 at $0.003 a share, a 32% discount to recent market price. Funds go to California interests, assessing new conventional producing assets, and working capital. Far smaller than earlier raisings; the price is well below the 4-10c option strikes.
17 Feb 2014capital raising announcement▲ GoodMajor
Xstate placed 20m shares at 5c to raise $1.0m, settling 19 February. Funds go to extra 2D seismic and wider Sacramento Basin leasing. The price is above the 3c December placement.
What it means for a shareholder
20.0m new shares at A$0.050 to raise about A$1.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.0129% to 0.0114% of the company. To keep it you'd need 2,584 more shares - about A$129 at the issue price.
12 Dec 2013capital raising announcement● NeutralMajor
Xstate placed 11m shares at 3c to raise $330,000 for working capital and to finish leasing over new prospects. Follows the cash balance of about $400k in September.
What it means for a shareholder
11.0m new shares at A$0.030 to raise about A$330,000. That's 7.8% dilution: every existing holder's slice gets 7.8% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0258% to 0.0238% of the company. To keep it you'd need 2,835 more shares - about A$85 at the issue price.
XState extends the closing date of its 6.3c share purchase plan to 14 December 2011, citing market conditions. Eligible holders can apply for up to $15,000.
8 Nov 2011capital raising announcement● NeutralMajor
XState raised about $730,000 from a placement of about 11.5m shares at 6.3c, below the 10c-12.5c of earlier raisings. A share purchase plan at 6.3c, up to $945,000, is offered to existing holders. Funds go to its share of Sidi Dhaher testing costs and working capital.
What it means for a shareholder
11.5m new shares at A$0.063 to raise about A$730,000. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (15,873 at the issue price), your slice goes from 0.023% to 0.0197% of the company. To keep it you'd need 2,650 more shares - about A$167 at the issue price.
25 Feb 2011capital raising announcement● NeutralMajor
XState raised $1.25m placing 10,000,000 shares at 12.5c to professional investors, with Argonaut as lead manager. Funds are for working capital, including testing Sidi Dhaher zones. Spud is now expected in early March 2011, another slip.
What it means for a shareholder
10.0m new shares at A$0.125 to raise about A$1.3m. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held A$1,000 of shares (8,000 at the issue price), your slice goes from 0.0136% to 0.0116% of the company. To keep it you'd need 1,359 more shares - about A$170 at the issue price.
2 Nov 2010capital raising announcement● NeutralMajor
The entitlements issue drew applications for 20,112,161 shares; the 9,904,100-share shortfall will be placed by the underwriter. Holders took up about two-thirds of the roughly 30.0m shares offered at 10c.
What it means for a shareholder
30.0m new shares at A$0.100 to raise about A$3.0m. That's 34% dilution: every existing holder's slice gets 34% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.017% to 0.0113% of the company. To keep it you'd need 5,095 more shares - about A$510 at the issue price.
Letter to shareholders restating the entitlements issue: up to 30,016,261 shares at 10c and 15,008,130 options, raising up to $3,001,626, with Argonaut underwriting. Prospectus mailed 13 October, closes 27 October. No new terms.
What it means for a shareholder
30.0m new shares at A$0.100 to raise about A$3.0m. That's 34% dilution: every existing holder's slice gets 34% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.017% to 0.0112% of the company. To keep it you'd need 5,098 more shares - about A$510 at the issue price.
Letter telling shareholders with addresses outside Australia and New Zealand that they cannot take part in the entitlements issue. Terms are unchanged: 10c shares, $3.0m raise.
Colour copy of the entitlement issue prospectus already released that day. It restates the terms: 4 shares for every 5 held at 10c to raise about $3.0m, with a free 24c option per 2 shares, underwritten by Argonaut. Closing 27 October.
XState launches a $3.0m entitlement issue: 4 new shares for every 5 held at 10c, with 1 free 24c option (to 30 June 2013) per 2 shares. Up to 30.0m shares are underwritten by Argonaut. It is meant to fund Sidi Daher drilling in December.
Revised timetable for the $3m entitlement issue: record date 11 October, closing 27 October, and new shares and options expected to trade on 8 November 2010. Dates only; terms unchanged.
Confirms the priority offer closes 23 June 2010. Up to 1m shares are allocated at 20c post-consolidation, an effective 6.67c pre-consolidation, against a 10c price when trading was suspended on 10 June.
Letter to Australian and NZ shareholders on the entitlements issue: 1 option per 2 shares at 1c, exercisable at 24c to 30 June 2013, raising about $91,800, underwritten by Argonaut. Priority offer lets small holders top up to 10,000 shares at 20c.
Letter telling overseas shareholders they cannot take part in the options entitlements issue. It wrongly states the ratio as 1 for 3, which is corrected in the next announcement.
26 May 2010capital raising announcement● NeutralMajor
Recompliance prospectus: offer of up to 5m shares at 20c (post-consolidation) to raise $1.0m, with one option per two shares. Also a $91,800 option entitlement issue and up to 15m placement options at 1c. All depend on the 10 June 2010 shareholder meeting.
Small technical prospectus for up to 30,000 shares at 20 cents (up to $6,000), prepared only to remove trading restrictions on recently issued shares. Not a real fundraising.
What it means for a shareholder
30,000 new shares at A$0.200 to raise about A$6,000. That's 0.0563% dilution: every existing holder's slice gets 0.0563% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.00938% to 0.00938% of the company. To keep it you'd need 3 more shares - about A$1 at the issue price.
The prospectus raising closed oversubscribed on 30 November 2006 and the board accepted the $6.0 million maximum at 20 cents a share. The money funds the Arizona uranium JV, where XState sole funds US$2.9 million for 50%.
Prospectus lodged to raise up to $6 million via 30,000,000 shares at 20 cents, minimum $5 million. Funds will support the Arizona uranium joint venture with Liberty Star, where XState earns 50% by spending US$2.9 million.
What it means for a shareholder
30.0m new shares at A$0.200 to raise about A$6.0m. That's 58% dilution: every existing holder's slice gets 58% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.023% to 0.00966% of the company. To keep it you'd need 6,887 more shares - about A$1,377 at the issue price.
26 June 2006capital raising announcement● NeutralMajor
The dormant shell resolved to place 6,000,000 shares at 4 cents to raise $240,000 working capital, with a free option per share exercisable at 20 cents by 30 June 2007. Shareholder approval is needed because it exceeds 15% of capital.
