12 Dec 2018capital raising announcement▲ GoodMajor
Entitlement issue closed with acceptances for 1.04bn shares raising A$2.083M. The remaining 2.007bn shares (about A$4.01M) fall to underwriter Finevest to take up, so the full A$6.1M is expected.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Nov 2018capital raising announcement● Neutral
Confirms the entitlement issue prospectus was posted to shareholders; offer closes 10 December 2018. Administrative only.
21 Nov 2018capital raising announcement● Neutral
Letter to eligible shareholders on the 3-for-1 issue at A$0.002 (about 3.05bn new shares, ~4.065bn total after). Underwriting fee A$30,000. Funds go to mining setup, overheads and repaying short-term loans. Closing 10 December. Notice only, no new terms.
21 Nov 2018capital raising announcement● Neutral
Letter telling shareholders outside Australia, NZ, Bermuda, Cayman and Turks and Caicos they cannot take part in the entitlement issue; a nominee will sell their entitlements. Administrative notice.
21 Nov 2018capital raising announcement● NeutralMajor
Prospectus for a 3-for-1 renounceable entitlement issue at A$0.002 per share, raising up to A$6,097,500. Fully underwritten by Finevest Investments. This is the long-planned ~A$6M raising, now launched at a very low price.
31 July 2018capital raising announcement● NeutralMajor
Project now called Newcastle Project; mining starts at Kliprand Colliery, with coal extraction expected late in the September 2018 quarter. Plans a roughly A$6M renounceable entitlement issue, with a shareholder in principle willing to underwrite it. A second ZAR10M Osho loan bridges until then.
21 Jan 2015capital raising announcement▲ GoodMajor
Rights issue closed with acceptances for 335.8M shares raising A$2.015M, about half the maximum. The remaining 341.7M shortfall shares go to underwriter Azure Projects, which is how the full A$4.065M is expected to be met.
8 Jan 2015capital raising announcement● Neutral
The rights issue prospectus has been despatched to shareholders, per the updated timetable. Administrative notice only.
24 Dec 2014capital raising announcement● Neutral
Updated rights issue timetable: record date 2 January 2015, closing 16 January 2015, new shares quoted 27 January 2015. Administrative; offer terms unchanged.
24 Dec 2014capital raising announcement● Neutral
Supplementary prospectus formally replaces the rights issue timetable with the revised dates (closing 16 January 2015). Administrative; no change to the A$0.006 price or A$4.065M maximum.
23 Dec 2014capital raising announcement● Neutral
The rights issue timetable will be extended by 1-2 business days pending new ISINs for the shares and rights. Other terms unchanged. Administrative.
22 Dec 2014capital raising announcement● Neutral
Prospectus for the 2-for-1 rights issue at A$0.006 to raise up to A$4.065M, underwritten by Azure Projects. It describes the shares as highly speculative. Repeats the offer already announced; no new figures in the visible text.
22 Dec 2014capital raising announcement● NeutralMajor
First capital raising since the A$30M IPO: a 2-for-1 renounceable rights issue at A$0.006 per share, up to 667.5M shares to raise up to A$4.065M, fully underwritten by Azure Projects. Funds go to working capital and an initial box cut at Ntendeka to start mining run-of-mine coal.
15 July 2011capital raising announcement▲ Good
Confirms the IPO closed: all shares allotted 12 July 2011, cleared funds received and applications accepted in full. The offer was 150,000,000 shares at $0.20 for $30 million, with $1.93 million of costs. Options were issued to directors and Euroz.
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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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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