Past year: ▲ 0%(0.01c – 0.01c USD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Aug 2014capital raising announcement● Neutral
The company hired J. Streicher Capital LLC for six months from August 14, 2014 to help with trade shows, investor contact and roadshows, paying US$7,500 upfront plus US$7,500 a month and expenses. It also granted Streicher 750,000 stock options at US$0.076, US$0.084 and US$0.090 (250,000 each), vesting over twelve months and expiring after five years, subject to TSX Venture approval. This adds a small amount of potential dilution.
2 Dec 2011capital raising announcement● Neutral
Effective November 22, 2011 Manas hired General Research GmbH for investor relations, mainly in Europe, at EUR 5,000 a month plus expenses, running to November 16, 2013, and granted 500,000 options at $0.20 until November 23, 2016. This is another small service contract with an option grant.
26 Sept 2011capital raising announcement● Neutral
On September 22, 2011 Manas issued 2,000,000 shares to one of its directors, partly as pay for past services and partly as an incentive to keep serving. This is a small dilutive issue to an insider.
13 Sept 2011capital raising announcement● Neutral
Effective September 1, 2011 Manas hired Brisco Capital Partners for investor relations and marketing at US$10,000 a month for six months unless extended, and granted 500,000 options at $0.225 until September 1, 2016. This is a small service contract with an option grant.
15 Dec 2010capital raising announcement● Neutral
On December 6, 2010 Manas issued 2,000,000 shares to a consultant for services (half locked up for 12 months, half for 24). On December 9 it also issued 3,527 shares under a consulting agreement paying $150 an hour, two-thirds in cash and one-third in shares. These are small dilutive issues paid for services.
10 June 2010capital raising announcement● Neutral
On June 2, 2010 Manas granted a consultant options on 150,000 shares at $0.80, expiring June 2, 2013 and vesting in 12 quarterly instalments. This is a small option grant.
What it means for a shareholder
150,000 new shares at US$0.800 to raise about US$120,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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5 May 2010capital raising announcement● Neutral
On April 26 and 30, 2010, Manas issued 1,334,746 and 50,000 shares at $0.59 each on exercise of earlier warrants, both to non-U.S. persons. This continues the run of warrant exercises and adds a small amount of dilution.
What it means for a shareholder
50,000 new shares at US$0.590 to raise about US$29,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Apr 2010capital raising announcement● Neutral
Between March 31 and April 10, 2010, Manas issued 2,447,387 new shares (150,000 + 677,966 + 291,763 + 342,627 + 985,031) at $0.59 each when existing warrant holders exercised, all to non-U.S. persons. This brings in cash and slightly dilutes existing holders.
12 May 2009capital raising announcement● Neutral
On April 28, 2009 Manas granted options on 4,400,000 shares at $0.26 per share, expiring April 28, 2012, to three people: an officer, an employee and an executive of a consultant. They vest in 12 quarterly installments. The filing's header says April 28, 2008, which looks like a typo (inference).
What it means for a shareholder
4.4m new shares at US$0.260 to raise about US$1.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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27 Oct 2008capital raising announcement● Neutral
On October 21, 2008 Manas issued 1,160,000 bonus shares to employees, officers and a director, with a six-month lock-up and, for all but 60,000 shares, a 3% per quarter limit on sales. This adds a small number of new shares.
15 Sept 2008capital raising announcement▼ BadMajor
On September 4, 2008 Manas sold 4,000,000 units at $0.65 each ($2,600,000) to two US investors. Each unit has one share, one warrant exercisable at $0.95 for two years, and a share of rights in Mongolia's Sulinkheer 13 and 14 contracts, totalling 8% of Manas's interest there. This adds new shares and warrants, and gives away part of the Mongolian interest; the units were priced far below the $4.50 paid in July 2007 and the $2.10 warrant strike from May 2008 (inference: share value fell). The filing also lists an Item 4.02 restatement notice, but the text shown does not describe one. The 8% interest granted here looks like the same 8% promised to the August debenture holder, but the filing does not say whether they are the same.
25 Aug 2008capital raising announcement● NeutralMajor
On August 19, 2008 Manas and Santos amended their 2006 Kyrgyzstan farm-in so that Santos starts the Phase 2 work program (drilling three exploration and three appraisal wells) on October 1, 2008, alongside Phase 1, rather than after it. Separately, on August 18 Manas borrowed $2 million through two-year 8% convertible debentures, secured on its Kyrgyz assets and convertible at the price of a future public offering. Debenture holders also receive an interest in 8% of Manas's interest in Mongolian lots 13 and 14. The Santos change speeds up the work Santos funds; the loan adds secured debt.
16 May 2008capital raising announcement● NeutralMajor
On May 15, 2008 Manas issued $4,000,000 of two-year convertible debentures at 8% interest to four non-US investors, with 1,000,000 two-year warrants at $2.10 per share. Interest and principal can be paid in cash or in shares priced at 90% of the recent average price, and the debentures must be redeemed if a public offering of at least $20 million is completed. This adds debt and potential dilution; the filing says some conversion terms had not yet been reviewed or approved by the investors.
14 Aug 2007capital raising announcement● NeutralMajor
Manas arranged a private placement of 825,227 units at $4.50 each, for gross proceeds of up to $3,687,992, effective July 31, 2007. Each unit has one share and one warrant exercisable at $5.50 until July 31, 2009; proceeds are for working capital, and commissions were $155,759 plus 33,289 warrants. New shares and warrants dilute existing holders.
What it means for a shareholder
825,227 new shares at US$4.50 to raise about US$3.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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