Past year: ▲ 19%(20.0c – 32.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2026capital raising announcement● NeutralMajor
Kinetic will provide up to US$16m: an US$8m unsecured bridge loan, then a share subscription of US$16m at US$0.2089 in two tranches (76.6m shares). The first tranche is settled by setting off the loan. Shareholder approval is required. Adds to the earlier convertible notes.
28 Aug 2024capital raising announcement▲ GoodMajor
Hong Kong-listed Kinetic Development Group agreed to invest US$90m for 51% of MC Mining in two tranches. The first is 13.04% for US$12.97m (US$0.2089/share, by 4 Sept); the second, US$77.0m, needs shareholder and regulatory approval. Funds target Makhado.
7 Nov 2022capital raising announcement▲ GoodMajor
The A$40m rights issue closed, issuing 200,026,719 shares at A$0.20. Shareholders applied for only 107.6m shares; the 92.4m shortfall went to sub-underwriters. SGIH and the Dendocept group each end with 23.98%; total shares 397,681,589.
What it means for a shareholder
200m new shares at A$0.200 to raise about A$40.0m. That's 56% dilution: every existing holder's slice gets 56% smaller. If you held A$1,000 of shares (5,000 at the issue price), your slice goes from 0.00324% to 0.00141% of the company. To keep it you'd need 6,477 more shares - about A$1,295 at the issue price.
Create a free account to see this worked out for your own holding.
13 Oct 2022capital raising announcement● Neutral
Offer booklet and entitlement forms for the A$40m rights issue were posted to eligible shareholders on 13 October 2022, with notices to ineligible holders. Administrative step in the rights issue announced 27 September; no new terms.
27 Sept 2022capital raising announcement● Neutral
Offer booklet for the A$40m rights issue, closing 3 November 2022 with a record date of 12 October. Repeats the terms of the announcement: A$0.20 per share, underwritten by Morgans, with SGIH and Dendocept committed and sub-underwriting.
27 Sept 2022capital raising announcement▲ GoodMajor
Fully underwritten A$40m (ZAR472m) rights issue at A$0.20, 1.012 new shares per share held, a ~49.7% discount to the 30-day ASX VWAP. It funds Makhado equity and repays the R60m standby. About A$26m in debt commitments also received; construction targeted early 2023.
7 Apr 2022capital raising announcement▲ GoodMajor
With South African Reserve Bank approval obtained, 38,363,909 shares were issued to SGIH, converting its first-tranche loan and giving it 19.9%. Issued shares rise to 192,783,464. This completes the first stage of the February SGIH funding.
1 Feb 2022capital raising announcement▲ GoodMajor
Staged ZAR86m (about US$5.6m) funding from Senosi Group (SGIH) at ZAR1.20 per share, a 7.1% premium: 38.4m shares for 19.9%, then 33.3m more taking SGIH to about 31.7%. Advanced as loans first; second tranche needs shareholder approval. Cash runway extended to at least August 2022.
4 Sept 2020capital raising announcement▲ GoodMajor
Columbia Skies Holdings will subscribe for 7,831,785 shares at about R1.27, raising roughly R10.0m ($0.6m) for a 4.8% stake, subject to Reserve Bank approval. Shares would rise to 162,251,340. Full Phase 1 funding is now targeted by end CY2020.
12 Aug 2020capital raising announcement▲ GoodMajor
Reserve Bank approval was received for R15.0m ($0.9m) of new equity: 13,331,433 shares at 105.56 SA cents (6.27 pence). IDC gets about 1.1m warrants, and shares in issue rise to 154,419,555. This satisfies the IDC loan condition.
1 Feb 2017capital raising announcement● NeutralMajor
CoAL placed 49,007,596 shares with M&G at 4.081 US cents each to raise US$2m for working capital. Shares on issue rise to 1,976,008,924. Follows cash falling to US$7.36m at December.
31 May 2016capital raising announcement▲ GoodMajor
CoAL signs two subscriptions with Hengshun Zhongsheng (229,885,058 shares) and Summer Trees (114,942,529 shares) at US$0.0435, raising US$15m. They replace the terminated Yishun agreement and are conditional on the Universal offer going unconditional.
What it means for a shareholder
230m new shares at US$0.0435 to raise about US$15.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held US$1,000 of shares (22,989 at the issue price), your slice goes from 0.00119% to 0.00107% of the company. To keep it you'd need 2,742 more shares - about US$119 at the issue price.
Create a free account to see this worked out for your own holding.
11 Jan 2016capital raising announcement● Neutral
CoAL responds to a Chinese exchange notice that Haohua Energy International intends to subscribe US$5.0m at US$0.0435 per share. No binding agreement exists, and discussions remain incomplete. Any deal needs shareholder, Chinese and FIRB approvals.
7 Dec 2015capital raising announcement▲ GoodMajor
M&G agrees to subscribe US$3m of new CoAL shares at US$0.0435 (about A$0.061). This is the final piece of funding for the Universal offer, which is now fully secured. It needs shareholder approval and the offer going unconditional, by 30 June 2016.
21 Sept 2015capital raising announcement▲ GoodMajor
Yishun placement completed: 183,231,261 shares issued at 5.15p, raising £9.44m (US$14.5m). Yishun also advanced the US$10m interest-free loan, repayable only in limited circumstances. Talks continue on a Makhado equity stake, shareholder loan and EPC contract.
5 Aug 2015capital raising announcement▲ GoodMajor
Singapore's Yishun Brightrise will subscribe GBP9.4m (US$14.7m) for up to 183m shares (~9.5%) at 5.15p, subject to shareholder vote, plus lend US$10m interest-free. Yishun intends to seek a Makhado stake and the EPC contract. Funds go to pre-construction and working capital. Starts a possible strategic-partner thread.
3 June 2015capital raising announcement▲ GoodMajor
Stage 3 completed: 144m shares at 5.5 pence raised GBP7.92m (US$12.39m), finishing the placement at GBP38.225m (US$59.1m). Shares on issue rise to 1,743,368,613. TMM also received 40m options at ZAR0.30, exercisable for 12 months.
1 June 2015capital raising announcement● Neutral
Brief update: Stage 3 of the equity raise is still progressing as planned, with the market to be told when formalities are complete. No new facts.
30 Apr 2015capital raising announcement● Neutral
Stage 3 of the placement, 144m shares at GBP0.055 (GBP7.92m gross), will complete by 29 May 2015, later than planned. It ends a raise totalling GBP38.225m. Shares will be issued without a new shareholder vote, as the 2014 approval will have expired.
22 Dec 2014capital raising announcement▲ GoodMajor
Stage 2 of the placement completed and funds received: 300m shares at GBP0.055 raised GBP16.5m (US$25.9m). Stages 1 and 2 total 551m shares, GBP30.3m (US$47.8m). Stage 3 of 144m shares is still due around 29 April 2015.
17 Dec 2014capital raising announcement▲ GoodMajor
The remaining placement is restructured: Stage 2 is now 300m shares at GBP0.055 (GBP16.5m), due 18 Dec 2014, and a new Stage 3 of 144m shares follows around 29 April 2015. This removes the TMM funding condition; total raised is unchanged.
13 Nov 2014capital raising announcement▲ GoodMajor
CoAL confirmed receipt of Stage 1 placement funds on 11 Nov 2014: 251m shares for GBP13.8m (US$21.8m). This is the first cash from the placement, though Stage 2 is still outstanding.
6 Nov 2014capital raising announcement▲ GoodMajor
All regulatory approvals for Haohua's participation were granted, satisfying the conditions for Stage 1 of the placement: 251m shares for US$23.4m, issue expected around 10 Nov. Stage 2 (US$41.5m) still depends on TMM securing its funds. Mooiplaats buyer Blackspear has agreed terms with a funding partner.
What it means for a shareholder
251m new shares at about US$0.0932 to raise about US$23.4m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held US$1,000 of shares (10,726 at the issue price), your slice goes from 0.00102% to 0.000826% of the company. To keep it you'd need 2,568 more shares - about US$239 at the issue price.
Create a free account to see this worked out for your own holding.
26 Aug 2014capital raising announcement▲ GoodMajor
CoAL agreed a conditional placement of up to 695m shares at GBP0.055, raising about GBP38.2m (US$64.9m), a stated premium of about 101.5% to the 22 August close. Investors include Haohua, M&G, Investec AM and new holder TMM. Proceeds cover the US$30m Greater Soutpansberg payment, US$25m Vele works, US$10m Grindrod and US$6m Investec repayment.
What it means for a shareholder
695m new shares at about US$0.0432 to raise about US$30.0m. That's 40% dilution: every existing holder's slice gets 40% smaller. If you held US$1,000 of shares (23,167 at the issue price), your slice goes from 0.00221% to 0.00133% of the company. To keep it you'd need 15,358 more shares - about US$663 at the issue price.
Create a free account to see this worked out for your own holding.
4 Feb 2013capital raising announcement● Neutral
Compliance notice for the issue of 197,934,063 shares to Haohua for the US$80m tranche. Admission is expected around 7 February, taking shares on issue to 1,048,368,613. It repeats the earlier announcement.
1 Feb 2013capital raising announcement▲ GoodMajor
CoAL received the US$80m conditional tranche from Haohua after shareholder, FIRB and Chinese approvals, completing the US$100m investment. 197,934,063 shares will be issued at 25p, lifting shares on issue to 1,048,368,613.
24 Jan 2013capital raising announcement● Neutral
CoAL issued 49,483,516 shares to Haohua for the initial US$20m tranche, bringing shares on issue to 850,434,550 after admission around 29 January. This is a formal compliance notice completing the first tranche.
10 Jan 2013capital raising announcement▲ Good
Haohua has received the Chinese approvals for its US$100m subscription at 25p, ahead of schedule. The US$20m initial tranche is already received. The US$80m remains subject to the 25 January shareholder vote, so the 35p price step-up no longer looms.
29 Nov 2012capital raising announcement▲ Good
CoAL confirmed it received the US$20m previously held in escrow from Haohua. This is cash in hand; the shares for the initial placement are still to be issued under the earlier terms.
28 Nov 2012capital raising announcement▲ Good
Haohua received FIRB approval, so its US$20m escrow deposit will be released to CoAL against the initial placement. Shares issue at 25p, or 35p if Chinese approvals for the larger tranche aren't received by 31 January 2013.
