Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2016capital raising announcement● Neutral
SPP offer document sent to eligible holders at $0.107 per share, $500 to $15,000 each, closing 15 April 2016. The 5 April general meeting must approve the note changes first. Underwriters get a 10% fee ($40,000 on $400,000) payable in shares.
10 Feb 2016capital raising announcement▲ GoodMajor
Marenica will run a share purchase plan at 10.7 cents (20% discount), with each eligible holder able to apply for $500 to $15,000. Sophisticated investors underwrite $400,000, subject to shareholder approval of the note changes at a late-March meeting. Funds go to testwork, patents and pilot plant funding.
28 May 2015capital raising announcement▲ GoodMajor
The 1,500,000-share placement to Hong Kong's Mingsun Technology is completed at $0.2373, raising about $356,000. This finalises the April deal after due diligence. A further 269,603 shares were issued to the CEO and consultant in lieu of pay.
9 Apr 2015capital raising announcement▲ GoodMajor
Placement of 1.5M shares at 23.73c to Hong Kong's Mingsun Technology raises $356,000, subject to due diligence, with funds due May 2015. It is the first outside investment since July 2014, and Mingsun could become a cornerstone investor.
What it means for a shareholder
1.5m new shares at A$0.2373 to raise about A$356,000. That's 9.8% dilution: every existing holder's slice gets 9.8% smaller. If you held A$1,000 of shares (4,214 at the issue price), your slice goes from 0.0305% to 0.0275% of the company. To keep it you'd need 458 more shares - about A$109 at the issue price.
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13 Feb 2015capital raising announcement● Neutral
269,602 shares will be issued to CEO Murray Hill and consultant John Sestan in lieu of about 70% of their cash pay, at roughly $0.23-$0.27 per share. This preserves cash.
30 July 2014capital raising announcement▲ GoodMajor
Placement of 84.8M shares raised $136,000, mostly at 0.16c. Total raised across the plan and placements is $536,000, for working capital. Total shares now 1,374,272,473. The company says it is fully funded to complete financing of Uranium Beneficiation.
What it means for a shareholder
84.8m new shares at A$0.0016 to raise about A$136,000. That's 6.2% dilution: every existing holder's slice gets 6.2% smaller. If you held A$1,000 of shares (625,000 at the issue price), your slice goes from 0.0485% to 0.0455% of the company. To keep it you'd need 41,102 more shares - about A$66 at the issue price.
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16 July 2014capital raising announcement▲ GoodMajor
The share purchase plan raised $400,000 at 0.16c, $77,500 above the $300,000 underwriting, plus $22,500 from a placement. The company plans further placements to meet demand. CEO Murray Hill was issued 67.5M performance rights tied to commercialising U-pgrade. An R&D refund of about $362,000 is expected in September.
1 July 2014capital raising announcement● Neutral
Closing date of the share purchase plan extended to 10 July 2014, with shares to be issued on 16 July. Terms are otherwise unchanged.
10 June 2014capital raising announcement● NeutralMajor
Share purchase plan for eligible shareholders at a 20% discount to the recent average price, capped at 0.26c, for $500-$15,000 each. Four directors commit $15,000 each; the CEO and strategic advisor underwrite $300,000. Funds are for working capital while the subsidiary seeks funding.
11 Oct 2013capital raising announcement● Neutral
A further A$192,004 raised by placing 48.0M shortfall shares at 0.4c; 231.9M shortfall shares remain available until 29 October. Hanlong will be paid interest on its notes on 14 November instead of the conversion price being cut to 0.4c from 2.626c. Total shares now 1,015,955,086.
1 Aug 2013capital raising announcement▼ BadMajor
The 0.4c entitlement issue drew valid applications for only A$875,375 (218.8M shares), well short of the up-to-A$2M target. A shortfall of 279.9M shares can be placed by the board within three months at not less than 0.4c.
8 July 2013capital raising announcement● Neutral
Offer document for the 2-for-3 entitlement issue at 0.4c, raising up to A$2M, a 33% discount to the one-month average price. Hanlong and all directors support it. Funds go to flowsheet optimisation, taking 6-9 months before pilot plant planning begins.
26 June 2013capital raising announcement● Neutral
Shareholder letter on the 0.4 cent entitlement issue: record date 2 July, closing 29 July, with a shortfall facility, raising up to about A$2M. Repeats known terms; no new substance.
24 June 2013capital raising announcement● NeutralMajor
Marenica launches a 2-for-3 entitlement issue at 0.4 cents to raise up to A$2M, well below the 1.3c raising of 2012. Hanlong takes up about A$600,000, with A$350,000 repaying its note, and extends the note's repayment two years to November 2015.
20 Apr 2012capital raising announcement● Neutral
Offer document for the 1-for-2 entitlement issue at 1.3 cents, up to about A$3.24M, underwritten by Hanlong. The price is a 40% discount to the one-month average price. Closes 7 May with a shortfall facility. Formal paperwork for the known raising.
11 Apr 2012capital raising announcement● Neutral
Letter to shareholders on the 1.3 cent entitlement issue: record date 18 April, closing 7 May, with a shortfall facility. Directors sub-underwrite A$120,250 with no fees. Repeats the known terms; no new substance.
2 Apr 2012capital raising announcement● NeutralMajor
Marenica launches a 1-for-2 entitlement issue at 1.3 cents to raise up to A$3.24M, underwritten by Hanlong, to fund bulk-sample upgrade testwork. Hanlong's A$2M convertible note is replaced, with conversion price cut to 2.674 cents from 7 cents.
15 Nov 2010capital raising announcement● Neutral
Offer document for the rights issue: one share for every 16 at 7c to raise up to about A$2.04M, underwritten by Hanlong. The price is a 15.75% discount to the one-month average trading price. Closes 3 Dec. Details already announced.
5 Nov 2010capital raising announcement● Neutral
Letters set out the underwritten rights issue announced 3 Nov: one new share for every 16 held at 7c, raising up to about A$2M. Hanlong-related entity underwrites with no fee. Closes 3 Dec; shares issue 8 Dec. Shareholders in some countries are excluded.
1 Nov 2010capital raising announcement▲ GoodMajor
Hanlong Energy, a Chinese group, provides A$5M: a 3-year A$2M convertible note at 8% (convertible at 7c), a A$1M placement of 14.26M shares at 7c, and underwriting of a A$2M rights issue at 7c. An MOU offers exclusive talks to Dec 2011 on further funding and off-take.
20 July 2009capital raising announcement▲ GoodMajor
Completes the placement of 82.6m shares at 12c with 41.3m attaching options, raising A$9.9m before costs, after the 9 July approval. Polo's Paul Ingram joins the board; Polo holds 49.56m shares, about 11.95%. Resolves the placement thread.
What it means for a shareholder
82.6m new shares at A$0.120 to raise about A$9.9m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.00228% to 0.00186% of the company. To keep it you'd need 1,880 more shares - about A$226 at the issue price.
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29 June 2009capital raising announcement● Neutral
Prospectus for a nominal offer of 1,000 shares at 12c (A$120) with options. Its stated purpose is to let shares from earlier issues, including the convertible note shares, be freely on-sold. Administrative, not new funding.
26 June 2009capital raising announcement▲ Good
Batavia has issued a conversion notice turning its A$2.1m of notes into 30m WME shares at 7c, with the market price at 23.5c. Completes the conversion flagged on 2 June and removes the debt.
5 June 2009capital raising announcement▲ GoodMajor
Polo Resources (AIM) takes 49.56m of the 82.6m placement shares at 12c (about A$5.95m), for roughly 11.95%. Its director Paul Ingram will join the board. The company also ends its administration contract with Corporate Admin Services, costing about A$880,000 and paid from the placement. A$5m 2009 exploration budget.
2 June 2009capital raising announcement● Neutral
Batavia says it intends to convert its A$2.1m of notes into 30m WME shares at 7c, with the market price at 19.5c. Resolves the convertible note thread, with the shares tradable after the placement.
1 June 2009capital raising announcement▲ GoodMajor
Paterson Securities is mandated to place up to 82.6m shares at 12c to raise up to A$9.9m, with one option at 25c (to 30 June 2011) per two shares. It exceeds existing shareholder approval, so a new meeting is planned for 9 July. Follows cash of about A$1.6m.
What it means for a shareholder
82.6m new shares at A$0.120 to raise about A$9.9m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (8,333 at the issue price), your slice goes from 0.0025% to 0.00201% of the company. To keep it you'd need 2,068 more shares - about A$248 at the issue price.
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9 Feb 2009capital raising announcement● Neutral
Batavia's own notice of the same A$1.4m convertible note: 8%, 12 months, convertible at 7c into 20m WME shares. Adds that WME has about 330m shares and describes Marenica; no new terms.
17 June 2008capital raising announcement▲ GoodMajor
Company issues 10,770,000 shares and 10,770,000 unlisted options (25c, expiring 8 May 2009) from the placement announced 9 May, completing the first tranche. At the A$0.22 price in that announcement, this implies about A$2.4m (inference). Includes a routine secondary-trading notice.
10 June 2008capital raising announcement▲ Good
Company says it now holds unconditional applications for more than 10m shares and options and will set a settlement date. Moves the first Falco placement towards completion after the earlier delays.
2 June 2008capital raising announcement● Neutral
Placement completion is delayed again because the small group of Canadian institutions has due diligence requirements, expected to be concluded that week. Follows the 21 May delay on the minimum A$2.2m raise.
