15 July 2011other● Neutral
List of the 20 largest shareholders. Belvedere Mining Holdings holds 170,000,000 shares (50.18%), and the top 20 together hold 77.28%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 July 2011other● Neutral
Corporate governance statement. The board has one non-executive and two executive directors, none independent, so it departs from several ASX recommendations. It plans to add two independent non-executive directors after listing.
15 July 2011other● Neutral
Shareholder distribution table showing 647 holders and 338,750,000 total shares, of which 169,950,000 are escrowed. Administrative disclosure only.
15 July 2011other● Neutral
ASX circular confirming quotation from 19 July 2011. It describes the company as a South African coal explorer and developer, and notes 169,950,000 shares and 5,000,000 options are escrowed for 24 months.
15 July 2011other▲ GoodMajor
Ikwezi is admitted to the ASX Official List on 15 July 2011, with 168,800,000 shares at 20 cents to begin quotation on 19 July 2011 under code IKW.
15 July 2011other● Neutral
Securities trading policy restricting insider trading by directors, employees and contractors. Standard administrative document with no new business information.
15 July 2011other● Neutral
Company bye-laws (its constitution) adopted 15 June 2011 under Bermuda law. Administrative document with no new business information.
30 June 2011capital raising announcement● NeutralMajor
Prospectus for Ikwezi Mining's IPO, underwritten by Euroz Securities, to list the Bermuda-incorporated South African coal explorer on ASX. Per later disclosure, the offer is 150,000,000 shares at 20 cents to raise $30 million. The prospectus calls the investment speculative.
What it means for a shareholder
150m new shares at A$0.200 to raise about A$30.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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