26 Feb 2014annual report▲ Good
Unaudited 2013 result: profit of A$165,167, mostly exchange gain, with no revenue, against a A$143,328 loss in 2012. Net assets are A$426,468, versus net liabilities of about A$7.7m a year earlier.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Jan 2014quarterly activities report▲ GoodMajor
Both coal tenements were renewed on 29 November 2013: EPC1506 to May 2017 and EPC1539 to August 2015. Convertible notes converted into 36,111,111 shares, giving 53,319,060 quoted shares plus 3.9m unquoted. Resolves the renewal and note-conversion threads.
13 Dec 2013debt financing▲ GoodMajor
The A$800,000 Supermax loan from March 2013 has been repaid with accrued interest, ahead of its 28 February 2015 maturity, so the share-conversion option never arises. The company says it is now debt free, with the convertible notes converted to equity after the 4 December 2013 approval.
28 Oct 2013capital raising announcement▲ GoodMajor
Raised A$390,000 on 23 August 2013 by issuing 3.9 million shares at A$0.10 each, under the AGM-approved placement. Shares quoted rise to 16,997,949, with the 3.9 million new shares not yet quoted. APEC Coal tenements are still being renewed.
30 Aug 2013half year report● Neutral
Half-year to June 2013: no revenue but a profit of A$317,017, mainly exchange gain and interest income, versus a A$34,480 loss a year earlier. APEC Coal was acquired in March; shares remain suspended.
26 July 2013quarterly activities report▲ GoodMajor
Reports the 28 May AGM approved all eight resolutions: a placement of up to A$393,000, A$6.5m of zero-coupon convertible notes to Treasure Unicorn due 2016, the name change, and the change in activities to coal exploration via APEC Coal. Both tenements are being renewed.
8 July 2013other● Neutral
Name change to National Resources Limited took effect in Bermuda on 30 May 2013 but cannot be registered in Australia. The Australian name and ASX code OHL stay unchanged until a registrable name is approved.
13 June 2013security holder rights change● Neutral
The 5-for-1 consolidation, approved on 28 May 2013, is complete. The company now has 13,097,949 shares on issue, resolving the April proposal.
26 Apr 2013security holder rights change● Neutral
Proposes a 5-for-1 share consolidation, cutting 65,489,391 shares to about 13 million, subject to a vote at the 28 May 2013 AGM. It has no material effect on percentage holdings.
26 Apr 2013annual report● Neutral
2012 annual report, same figures as the audited accounts: loss A$143,328, no revenue. The chairman says suspended shares remain, and Treasure Unicorn still intends to recapitalise and fund acquisitions.
28 Mar 2013annual report● Neutral
Audited 2012 accounts sent to ASX: no revenue, loss of A$143,328, mostly administration. Principal activity remains investment holding. Shares still suspended since August 2009.
8 Mar 2013asset acquisition disposition▲ GoodMajor
Agreed to buy APEC Coal Pty Ltd from Profit Achieve Holdings for A$300,000. It holds two Queensland coal exploration tenements (EPC1506, about 454km², and EPC1539) in the Clarence-Moreton Basin. This is the first acquisition since the 2008 shutdown.
7 Mar 2013debt financing● NeutralMajor
Secured an A$800,000 unsecured loan from Supermax Group (holds 4.3%), due 28 February 2015 at 0.6% a month. Repayable in cash or shares at the 30-day VWAP, with shares needing shareholder approval. Funds are for buying assets, ending the cash squeeze.
28 Feb 2013annual report● Neutral
Unaudited 2012 results: no revenue and a loss of A$143,328, down from A$409,208 in 2011 because finance costs fell from A$339,873 to nil. Net liabilities A$7.70m; cash A$80,386.
7 Nov 2012director officer appointment● NeutralMajor
Chairman Arthur Sturgess, in the role since 1997, resigned on 7 November 2012. Yuanqing He becomes chairman, Wing Onn Chong managing director, and Dongmei Ye director and CFO. Leadership passes fully to the new owners' nominees (inference).
31 Aug 2012half year report▼ Bad
Half-year to June 2012: no revenue and loss of A$34,480 (A$200,202 a year earlier, when finance costs were A$168,324). Net liabilities A$7.71m, including a A$7.59m loan from the immediate holding company. Share capital issue of A$120,000 during the period.
27 Apr 2012annual report▼ Bad
2011 annual report: no revenue and a loss of A$409,208, mostly admin and finance costs on the holding company loan. Shares remain suspended. Board changed in March 2012: He Yuan Qing and Chong Wing Onn joined, three directors resigned.
14 Mar 2012other● Neutral
Change of registered office in Australia to Australia Square, Sydney, and of the Hong Kong principal place of business. Administrative.
12 Apr 2011annual report▼ Bad
2010 annual report: no revenue and a loss of A$464,875, mostly admin costs and interest on the Treasure Unicorn loan. Shares remain suspended since July 2009. The principal activity is now investment holding, seeking opportunities. New executive directors joined in April 2010; Peter Au and Petrus Sung left.
12 Apr 2010annual report▼ Bad
2009 annual report (text largely garbled in this copy). Readable parts indicate no revenue and a loss of about A$0.5m for 2009, with Treasure Unicorn Limited now the immediate holding company after buying Hai Yang's stake and loan. It intends to recapitalise the company.
31 Dec 2009asset acquisition disposition● NeutralMajor
Majority holder Hai Yang agreed on 30 December 2009 to sell its 38,125,983 OHL shares and its roughly A$7.89m shareholder loan to an independent purchaser, after which Hai Yang has no interest. Control of the company changes hands.
30 July 2009listing compliance notice▼ BadMajor
ASX suspended the shares from close of trading on 31 July 2009 until the company demonstrates compliance with listing rules 12.1 and 12.2 (level of operations and financial condition). This follows the January warning.
30 July 2009listing compliance notice▼ Bad
Letter to shareholders on the suspension: ASX considers current operations and finances insufficient for continued quotation, and cannot say when or if it will lift. The company says it is seeking acquisitions, with no assurance of success.
17 Apr 2009annual report● Neutral
2008 annual report (text largely garbled in this copy). Readable parts indicate a 2008 profit of about A$123K from a one-off gain on deconsolidating a subsidiary in liquidation, against a prior-year loss of A$16m. Business ceased in March 2008; Omnicorp intends to recapitalise.
30 Mar 2009other● Neutral
Change of Hong Kong office address to Hutchison House, Harcourt Road. Registered and Australian addresses are unchanged. Administrative.
12 Jan 2009listing compliance notice▼ BadMajor
Company says it has cut costs and headcount after closing its Dongguan factory, and expects to step up activity within 6 months. Omnicorp intends to recapitalise, subject to conditions including a new board. ASX will reassess the company under listing rule 12.1 by 31 July 2009, or may suspend it.
31 Oct 2008director officer appointment● Neutral
Chow Miu Fan appointed company secretary from 31 October 2008, replacing Lee Wai-King, who resigned. Administrative.
29 Aug 2008half year report▼ BadMajor
Half-year to June 2008: turnover fell 91.5% to A$794,623 and loss before tax was A$598,807 (A$149,005 profit a year earlier), after the Dongguan factory closed. A Hong Kong bank creditor served a winding-up petition on Lik Hang (about A$320,000 claimed), hearing 8 October 2008.
27 May 2008director officer appointment● Neutral
Lee Wai-King appointed company secretary from 26 May 2008, replacing Zacky Sun, who resigned for personal reasons with no disagreement. Administrative.
24 Apr 2008annual report▼ BadMajor
2007 annual report calls it a disastrous year: turnover fell 50.21% to A$16.55m and loss before tax was A$15.99m, against a A$2.9m profit in 2006. Lik Hang's Dongguan factory closed in March 2008. The group has negative net tangible assets and relies on shareholder loans.