Past year: ▲ 19%(20.0c – 32.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Nov 2012capital raising announcement▲ Good
Haohua's US$20m deposit has been received into escrow, pending FIRB approval. Haohua applied to FIRB on 23 October, with a decision expected by 22 November 2012. A step towards the initial tranche of the US$100m placement.
1 Oct 2012capital raising announcement▲ GoodMajor
Haohua Energy (Beijing Haohua subsidiary) made a binding offer to subscribe US$100m of CoAL shares at 25p: US$20m initial, subject to FIRB approval, and US$80m conditional on Chinese approvals and shareholder vote. Price rises to 35p on the initial tranche if approvals miss 31 January 2013. Two board nominees proposed.
13 Sept 2012capital raising announcement● Neutral
CoAL issued the 34,908,632 conditional placing shares from the 6 August raise, taking shares on issue to 800,951,034 after admission. Standard ASX secondary trading notice; completes the August placing following the September shareholder vote.
7 Aug 2012capital raising announcement● Neutral
CoAL issued the 80,570,166 firm placing shares from the 6 August raise, taking shares on issue to 766,042,402 after admission. Standard ASX secondary trading notice; the remaining 34,908,632 shares await shareholder approval.
7 Aug 2012capital raising announcement● NeutralMajor
CoAL placed 115,478,798 shares at 25p to raise about US$44.8m, with 34,908,632 of them subject to a September shareholder vote. Former Impala Platinum CEO David Brown becomes Chairman; Richard Linnell, Simon Farrell, Steve Bywater and Mikki Xayiya leave the board.
19 July 2012capital raising announcement● Neutral
CoAL issued the 19,148,408 shares to Investec under the 18 July subscription agreement, bringing shares on issue to 685,472,236 after admission. Standard ASX secondary trading notice; completes the first equity step of that package.
18 July 2012capital raising announcement● NeutralMajor
CoAL arranged an Investec package of about US$58.7m. Investec subscribed 19,148,408 shares at a 5% discount (29.21p), with a right for CoAL to require up to 81,061,507 shares over 12 months. A US$50m two-year loan term sheet would replace the US$40m JP Morgan facility, subject to conditions.
4 Nov 2011capital raising announcement▲ GoodMajor
The placing priced at 51p (R6.50) for 130,000,000 shares, a 10.5% discount, raising about £66.3m (US$106m), roughly 24.4% of existing shares. M&G took 40m shares. 50,323,963 shares await shareholder approval around 14 December.
3 Nov 2011capital raising announcement● NeutralMajor
CoAL launched a placing to raise about US$100m from institutions, with 79,676,037 shares issued firm and the rest subject to a ~14 December shareholder vote. It also signed a 364-day US$40m JP Morgan facility, drawable only if at least US$75m is raised.
What it means for a shareholder
79.7m new shares at about US$1.26 to raise about US$100m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held US$1,000 of shares (797 at the issue price), your slice goes from 0.00015% to 0.00013% of the company. To keep it you'd need 119 more shares - about US$149 at the issue price.
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17 June 2010capital raising announcement▲ GoodMajor
The placing completed: 50m new shares at 110p (A$1.88), a 0.2% discount to the AIM close, raising about £55m (A$94m gross). This resolves the 16 June launch; the shares are about 10.4% of prior capital.
16 June 2010capital raising announcement● NeutralMajor
CoAL launches a placing of up to 50m shares (~10.4% of capital) to raise up to about £55m; price to be set by bookbuild. Proceeds fund the Makhado bulk sample and feasibility study, acquisitions, and repaying the US$20m JP Morgan facility.
What it means for a shareholder
50.0m new shares at about £1.10 to raise about £55.0m. That's 9.4% dilution: every existing holder's slice gets 9.4% smaller. If you held £1,000 of shares (909 at the issue price), your slice goes from 0.000189% to 0.000171% of the company. To keep it you'd need 95 more shares - about £105 at the issue price.
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3 Nov 2009capital raising announcement● Neutral
The 59,867,731 placing shares were issued at 95 pence, taking shares on issue to 474,242,606. Confirms completion of the 30 October placing; secondary trading notice only.
30 Oct 2009capital raising announcement▲ GoodMajor
The placing was completed: 59,867,731 shares at 95 pence, raising about £56.9m gross (~14.52% of existing shares). Proceeds fund the ZAR650m NuCoal purchase, with the rest for rail wagons, Vele and Makhado spending, and working capital.
29 Oct 2009capital raising announcement▲ GoodMajor
CoAL proposes a placing of up to 59.87m shares (~14.52%) to raise about £59.6m, mainly to fund the ZAR650m purchase of NuCoal, a thermal coal producer near Mooiplaats (Woestalleen Colliery, 2.5Mtpa). It also plans to move to the London Main Market in H1 2010.
What it means for a shareholder
59.9m new shares at about £0.9955 to raise about £59.6m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held £1,000 of shares (1,005 at the issue price), your slice goes from 0.000242% to 0.000212% of the company. To keep it you'd need 145 more shares - about £144 at the issue price.
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30 June 2009capital raising announcement● Neutral
50,000 Class A options exercisable at $0.50 converted to shares, taking shares on issue to 411,919,636. Negligible dilution.
9 June 2009capital raising announcement● Neutral
297,570 shares issued to Blue Oar on exercise of options at 65 pence, taking shares on issue to 411,869,636. Negligible dilution.
6 May 2009capital raising announcement● Neutral
196,688 shares issued to Blue Oar on exercise of options at 34 pence each, taking shares on issue to 411,572,066. A tiny issue with negligible dilution.
4 Aug 2008capital raising announcement▲ Good
The second tranche of the BEE placement completes after FIRB approval: 12m shares at £1.30 raise £15.6m. Cash was over A$280m at 31 July. Shares on issue rise to 411,375,378, and CIL holds about 17.3%.
What it means for a shareholder
12.0m new shares at £1.30 to raise about £15.6m. That's 2.8% dilution: every existing holder's slice gets 2.8% smaller. If you held £1,000 of shares (769 at the issue price), your slice goes from 0.000187% to 0.000182% of the company. To keep it you'd need 22 more shares - about £29 at the issue price.
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13 June 2008capital raising announcement▲ GoodMajor
CoAL agreed a BEE deal with Coal Investments Limited (Och-Ziff funds): 37.5m shares at £1.30 (up to £48.75m) plus 50m options at £1.80. With African Global Capital's holding, the group could reach about 26.4%. Options need shareholder approval and conversion of Makhado and Vele mining rights within 12 months.
5 June 2008capital raising announcement▲ GoodMajor
ArcelorMittal received FIRB approval, so the second tranche of 13,635,000 shares at £1.11 (£15.1m) will be issued. ArcelorMittal will hold about 17.8% of CoAL, completing the £66.7m placement announced in April.
What it means for a shareholder
13.6m new shares at £1.11 to raise about £15.1m. That's 3.5% dilution: every existing holder's slice gets 3.5% smaller. If you held £1,000 of shares (901 at the issue price), your slice goes from 0.000242% to 0.000233% of the company. To keep it you'd need 33 more shares - about £37 at the issue price.
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23 Apr 2008capital raising announcement▲ GoodMajor
First tranche of the ArcelorMittal placement is complete: 46,365,000 shares issued at £1.11, raising £51.5m. ArcelorMittal now holds 52,659,419 shares (14.9%); shares on issue are 353,438,917. The second tranche of 13,635,000 still awaits FIRB approval.
What it means for a shareholder
46.4m new shares at £1.11 to raise about £51.5m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held £1,000 of shares (901 at the issue price), your slice goes from 0.000293% to 0.000255% of the company. To keep it you'd need 136 more shares - about £151 at the issue price.
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21 Apr 2008capital raising announcement▲ GoodMajor
ArcelorMittal will subscribe for up to 60m shares at £1.11 (£66.7m, about 16%) and sign an offtake for at least 2.5Mt a year of coking coal from Baobab and Thuli, with an option for 5Mt. It gets a board nomination. Second tranche needs FIRB approval.
What it means for a shareholder
60.0m new shares at £1.11 to raise about £66.7m. That's 16% dilution: every existing holder's slice gets 16% smaller. If you held £1,000 of shares (901 at the issue price), your slice goes from 0.000293% to 0.000245% of the company. To keep it you'd need 176 more shares - about £195 at the issue price.
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28 Nov 2007capital raising announcement▲ GoodMajor
Following AGM approval, GVM placed 15,000,000 shares at A$1.50 to raise A$22.5m via Euroz Securities, mainly to Perth retail investors. It adds to the 65m-share London placing at 65p and funds Mooiplaats and Baobab development.
What it means for a shareholder
15.0m new shares at A$1.50 to raise about A$22.5m. That's 6.5% dilution: every existing holder's slice gets 6.5% smaller. If you held A$1,000 of shares (667 at the issue price), your slice goes from 0.000307% to 0.000288% of the company. To keep it you'd need 46 more shares - about A$69 at the issue price.
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21 Nov 2007capital raising announcement▲ GoodMajor
GVM raised £42.25m by placing 65,000,000 shares at 65p, about 23% of enlarged capital, to fund Mooiplaats and Baobab. It is conditional on shareholder approval at the 28 November AGM. This is far larger than the £24.7m raised earlier in 2007.
14 June 2007capital raising announcement● Neutral
GVM issued 11,250,000 shares as the first share payment for 70% of Coal of Africa, plus reimbursement of due diligence and legal costs. Shares on issue rise to 207,768,703.
10 Apr 2007capital raising announcement▲ GoodMajor
GVM completed a placing of up to 37,350,000 shares at 34p to raise up to £12.7m, to fund Kelso if it elects to buy 70% of CoAL. It needs shareholder approval; Baobab received ministerial approval, clearing the Motjoli deal.
20 Feb 2007capital raising announcement● NeutralMajor
GVM agreed a further placement of 8,333,333 shares at 30p to raise £2.5m from London investors, to fund the Baobab 50% purchase. It exceeds the company's placement capacity, so needs shareholder approval.
21 Dec 2006capital raising announcement▲ GoodMajor
GVM placed 12.2 million shares at 20 pence (A$0.50) with Asia Energy plc to raise £2.44m (A$6.1m) for South African coal development. Asia Energy's CEO and CFO, Steve Bywater and Graham Taggart, were invited to join the board.
21 July 2006capital raising announcement▲ Good
The £3.2 million UK placing of 24,615,384 shares at 13p was completed; shares were allotted on 12 July and admitted to AIM on 13 July 2006.
11 July 2006capital raising announcement▲ GoodMajor
GVM proposed a UK placing of 24,615,384 shares at 13p to raise £3.2 million, a 3.7% discount to the AIM price. Proceeds fund the Holfontein purchase balance and development, Limpopo drilling and working capital. The Limpopo acquisition was approved by shareholders on 28 June.
