6 Dec 2016director interest notice● Neutral
Approach Resources Inc Chief Accounting Officer Uma L. Datla had 4,803 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Nov 2016agm notice● Neutral
Approach Resources Inc shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
9 Nov 2016agm notice● Neutral
Approach Resources Inc announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
4 Nov 2016agm notice● Neutral
Approach Resources Inc announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
3 Nov 2016capital raising announcement● NeutralMajor
On Nov 2, 2016 Approach agreed with Wilks Brothers and SDW Investments to swap $130.552 million of its 7.00% Senior Notes due 2021 (about 56.7% of the notes) for 39,165,600 new common shares, about 48.5% of the fully diluted stock after the swap. The deal needs a shareholder vote under NASDAQ rules and is expected to close in Q1 2017. It adds three Wilks-designated directors (board rises to eight) and caps their stake at 48.61%. Other noteholders are to be offered a follow-on exchange, which depends on shareholders approving a rise in authorized shares from 90 million to 180 million. Existing shareholders would be heavily diluted if it closes.
3 Nov 2016agm notice● Neutral
Approach Resources Inc announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
3 Nov 2016quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $26.5 million and a net loss of $13.5 million for the period ended 2016-12-31.
3 Nov 2016quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $26.5 million and a net loss of $13.5 million for the period ended 2016-12-31.
15 Sept 2016substantial holder notice● Neutral
EIN reported a Approach Resources Inc shareholding of 4,653,872 shares (11.18% of votes) in a periodic institutional filing.
22 Aug 2016director interest notice● Neutral
Approach Resources Inc Chief Accounting Officer Uma L. Datla had 275 shares withheld for taxes on vesting stock.
4 Aug 2016quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $23.7 million and a net loss of $9.1 million for the period ended 2016-09-30.
3 Aug 2016quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $23.7 million and a net loss of $9.1 million for the period ended 2016-09-30.
1 June 2016director interest notice● Neutral
Approach Resources Inc Chief Accounting Officer Uma L. Datla had 282 shares withheld for taxes on vesting stock.
5 May 2016quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $22.4 million and a net loss of $16.0 million for the period ended 2016-06-30.
4 May 2016debt financing▼ BadMajor
On May 3, 2016 Approach signed a third amendment to its credit agreement, cutting the borrowing base to $325 million from $450 million, raising the interest margin by 100 basis points, and requiring a lien on substantially all assets of the company and guarantors. It also loosened the interest-coverage covenant, allowed up to $150 million of new junior-secured or unsecured debt, and requires cash above $35 million to repay revolver loans. The attached Q1 2016 results show a net loss of $13.7 million on revenues of $17.6 million; this reverses the borrowing base increase to $600 million in Nov 2014.
20 Apr 2016agm notice● Neutral
Approach Resources Inc announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
20 Apr 2016agm notice● Neutral
Approach Resources Inc shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
17 Mar 2016substantial holder notice● Neutral
Champlain Investment Partners, LLC disclosed a new substantial Approach Resources Inc shareholding (3.32% of votes).
10 Mar 2016substantial holder notice● Neutral
BlackRock, Inc reported a Approach Resources Inc shareholding of 2,010,346 shares (4.90% of votes) in a periodic institutional filing.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc director James H Brandi received 26,086 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc director Sheldon B Lubar received 26,086 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc Chief Operating Officer Qingming Yang received 125,951 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc Chief Administrative Officer J Curtis Henderson received 92,935 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc director Vean J. Gregg III received 26,086 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc director James C Crain received 26,086 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc President and CEO J. Ross Craft received 210,326 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc EVP & Chief Financial Officer Sergei Krylov received 121,060 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc director Christopher J. Whyte received 26,086 shares as part of the equity award.
4 Mar 2016director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 26,086 shares as part of the equity award.
12 Feb 2016substantial holder notice● Neutral
EIN disclosed a new substantial Approach Resources Inc shareholding (8.78% of votes).