3 Apr 2008securities registration● Neutral
LEGEND INTERNATIONAL HOLDINGS INC amended a filing by which it registered a securities offering with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Feb 2008substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 84,426,726 shares (47.70% of votes) in a periodic institutional filing.
14 Feb 2008substantial holder notice● Neutral
Atticus Capital LP, Atticus Management Limited, Timothy R. Barakett reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 18,750,000 shares (10.61% of votes) in a periodic institutional filing.
14 Feb 2008securities registration● Neutral
LEGEND INTERNATIONAL HOLDINGS INC amended a filing by which it registered a securities offering with the SEC.
28 Dec 2007capital raising announcement● Neutral
On December 28, 2007 the board agreed to issue 4,787,500 options at US$1.00 under the 2006 Incentive Option Plan to directors, officers and consultants, vesting one-third each after 12, 24 and 36 months. Named recipients are Peter Lee (1,000,000), Craig Michael (1,250,000) and Mordechai Gutnick (2,000,000). This adds potential new shares for existing holders.
28 Dec 2007material agreement▲ GoodMajor
On December 7, 2007 the company signed a heads of agreement with King Eagle Resources Pty Limited letting it earn an 80% interest in phosphate on three Queensland tenement blocks (Quita Creek, Highland Plains, Lily and Sherrin Creek) by spending $3 million on exploration over five years, with at least $200,000 in year 1 before any withdrawal. Legend gets no rights to other minerals, and the press release cites historical, not verified, estimates of 1,463 million tonnes at 16.0% P2O5 across all its phosphate holdings. This extends the phosphate push in the Georgina Basin.
28 Dec 2007capital raising announcement▲ GoodMajor
The company reported agreements to acquire phosphate project areas in Queensland's Georgina Basin: Lady Annie, Lady Jane and Thorntonia from Iron Duyfken Pty Ltd (A$500,000 plus 500,000 shares, effective November 2, 2007) and D-Tree from Ansett Resources & Industries Pty Ltd (A$300,000, effective November 7, 2007). Under the Iron Duyfken deal the permits are applications held in trust for Legend, and Iron Duyfken keeps the uranium rights. It also reported small share issues: 75,000 shares on a cashless exercise of 90,000 options and 104,000 shares for investor relations and consulting. This adds a phosphate business alongside the diamond and uranium work and is the use the December US$15m raise was earmarked for.
19 Dec 2007capital raising announcement▲ GoodMajor
The company sold 18,750,000 new shares at US$0.80 each to funds managed by Atticus Capital, raising US$15,000,000 in a private placement effective December 12, 2007, and agreed to register the shares for resale. The press release says the money is to fund a pre-feasibility study on historic phosphate deposits at D Tree, Lady Annie, Lady Jane and Thorntonia in Queensland. This is far above the earlier US$0.25 placements and adds to the share count, diluting existing holders.
What it means for a shareholder
18.8m new shares at US$0.800 to raise about US$15.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 Dec 2007substantial holder notice● Neutral
Atticus Capital LP, Atticus Management LLC, Barakett, Timothy R. disclosed a new substantial LEGEND INTERNATIONAL HOLDINGS INC shareholding (10.61% of votes).
22 Oct 2007securities registration● Neutral
LEGEND INTERNATIONAL HOLDINGS INC amended a filing by which it registered a small-business securities offering with the SEC.
18 Sept 2007business combination● Neutral
In a preliminary information statement, the company said holders of 53.2% of its shares (Renika and Chabad House of Caulfield, tied to the Gutnick family) approved by written consent on August 31, 2007 raising authorized common stock from 200 million to 300 million shares. With 157,289,825 shares and 10,548,630 options outstanding, 32,161,545 shares were left to issue; the filing says the company is investigating capital raising and that new issues could dilute existing holders. No shareholder vote is sought. This follows the 200 million authorization approved in November 2006.
3 Aug 2007securities registration● Neutral
LEGEND INTERNATIONAL HOLDINGS INC registered a small-business securities offering with the SEC.
30 July 2007substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 84,426,726 shares (53.50% of votes) in a periodic institutional filing.
14 May 2007substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 88,426,726 shares (66.10% of votes) in a periodic institutional filing.
14 May 2007capital raising announcement▲ GoodMajor
The company issued 18,470,000 more restricted shares raising US$4,117,500 and says it has closed its US$0.25 private placements. It plans to file a Form SB-2 within 45 days to register shares, and announced an intention to spin off its uranium exploration interests into a new public company, with shares distributed to existing Legend holders as a dividend once an SEC registration is effective. No record date or terms are given yet; this follows the Selby uranium anomalies reported in March.
30 Mar 2007capital raising announcement▲ Good
The company issued a further 3,700,000 restricted shares raising US$925,000, additional to the placements reported earlier the same day, for diamond exploration and working capital. The price works out to US$0.25 a share (inference).
28 Mar 2007capital raising announcement▲ GoodMajor
From December 31, 2006 to March 28, 2007 the company issued 5,315,624 restricted shares raising US$1,328,906 (about US$0.25 each, inference from the amounts) for exploration and working capital, and about 41,934,337 bonus shares were issued for the second one-for-two bonus. It also reports drilling and sampling in Abner Range, and says a review of old reports found radioactive phosphate and uranium anomalies at Selby (past assays 250 to 532 ppm uranium); further work is planned, but these are historical results, not new findings.
13 Dec 2006capital raising announcement▲ GoodMajor
Placements at US$0.50 total 5,201,657 shares raising US$2,600,828, all received. About 27,574,721 bonus shares were issued on November 17, 2006, leaving roughly 82,724,163 shares outstanding, and 400,000 more options at US$2.25 were agreed. Stockholders approved the increase in authorized shares to 200 million, and a second one-for-two bonus issue is set for a December 31, 2006 record date, taking the total to about 124,086,244. Drilling is also due to start at the Glyde River project (next to the Merlin diamond mine) and Abner Range.
24 Nov 2006substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 41,078,545 shares (76.10% of votes) in a periodic institutional filing.
27 Oct 2006capital raising announcement▲ Good
The company closed a further private placement of 1,000,000 shares at US$0.50, raising US$500,000 for working capital, effective October 9, 2006. This is on top of the completed US$2,000,000 placement and adds to the share count.
What it means for a shareholder
1.0m new shares at US$0.500 to raise about US$500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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26 Oct 2006substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 43,078,545 shares (79.90% of votes) in a periodic institutional filing.
26 Oct 2006substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty disclosed a new substantial LEGEND INTERNATIONAL HOLDINGS INC shareholding (79.90% of votes).
26 Oct 2006substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 43,078,545 shares (79.90% of votes) in a periodic institutional filing.
10 Oct 2006business combination● Neutral
A preliminary proxy statement calls the annual meeting for November 17, 2006, asking holders to re-elect Joseph Gutnick and David Tyrwhitt as directors, raise authorized shares from 100 million to 200 million, and approve the 2006 Equity Incentive Plan. It states 53,947,785 shares were outstanding on October 5, 2006. This is the approval step for the capital increase and further bonus issue announced in September.
6 Oct 2006capital raising announcement▲ GoodMajor
The company completed the US$2,000,000 placement (4,000,000 shares at US$0.50) on September 18, 2006, resolving the delays; about US$1.2m had already been received and used to complete the Astro tenement purchase, with the rest for diamond exploration and working capital. It also adopted a 2006 stock option plan and granted options (Gutnick 1,000,000 at US$2.25; Peter Lee 700,000, half at US$1.00 and half at US$2.25), and announced a one-for-two bonus share issue (record date November 17, 2006) plus a plan to double authorized shares to 200 million and make another one-for-two bonus issue. Bonus issues give existing holders more shares but are not described as adding value; the option grants add potential dilution (inference).
30 Aug 2006capital raising announcement▼ Bad
Settlement of the same 4,000,000-share, US$2,000,000 placement at US$0.50 has been extended a second time, now to September 15, 2006. No reason is given in the filing; the money is still not reported as fully received.
15 Aug 2006capital raising announcement● Neutral
The US$2,000,000 placement of 4,000,000 shares at US$0.50, due to complete on August 15, 2006, has had its settlement pushed back to August 31, 2006. The company also says drilling has started on its Northern Territory diamond tenements (Calvert Hills: Foelsche and Selby; Cox: Broadmere), the first drilling reported on the assets bought from Astro.
What it means for a shareholder
4.0m new shares at US$0.500 to raise about US$2.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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15 Aug 2006substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 45,719,145 shares (91.50% of votes) in a periodic institutional filing.
26 July 2006substantial holder notice● Neutral
S.S. of Renika Pty. Ltd. I.R.S. Employ, S.S. of Joseph I. Gutnick I.R.S. Emplo, S.S. of Stera M. Gutnick I.R.S. Employ, S.S. of Chabad House of Caulfield Pty reported a LEGEND INTERNATIONAL HOLDINGS INC shareholding of 46,819,145 shares (93.70% of votes) in a periodic institutional filing.
24 July 2006asset acquisition disposition● NeutralMajor
The company completed the purchase of the Astro diamond tenements (Calvert Hills and Cox) on July 21, 2006, finishing the March 2006 agreement. It also issued 31,880,035 restricted shares to Renika on a cashless exercise of 34,778,220 options, and announced a placement of 4,000,000 shares at US$0.50 (US$2,000,000) to fund diamond exploration and working capital, due to complete August 15, 2006. The share issues add to shares outstanding (inference: dilution of non-Renika holders).