Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2006capital raising announcement▼ BadMajor
The board withdrew the Swan Hill placement resolution (up to A$31.2 million at 52c) at the shareholder meeting, saying the share price and sector sentiment made terms unattractive. Beatrice has US$28 million senior debt, a US$5 million working capital facility and US$2 million tax increment finance; a replacement convertible note is conditional on due diligence.
21 Sept 2006capital raising announcement▼ Bad
Withdraws the 52c share purchase plan while the board reconsiders the institutional placement pricing, and returns funds already received. It intends to restructure and reinstate the plan at a price consistent with the placement.
25 Aug 2006capital raising announcement● Neutral
Offers eligible shareholders a share purchase plan of up to A$4,992 (9,600 shares) at 52c, a 14% discount to the 60.49c five-day average, closing 21 September. It matches the Swan Hill placement price announced 23 August; the plan is capped at 24.4 million shares.
What it means for a shareholder
9,600 new shares at A$0.520 to raise about A$4,992. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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23 Aug 2006capital raising announcement▲ GoodMajor
Beatrice gets a US$60 million package: US$30 million senior debt plus US$5 million working capital, and a US$30 million convertible note. Swan Hill funding starts with up to 60 million shares at 52c (up to A$31.2 million), then a share purchase plan, a A$20 million standby facility and project debt.
17 Mar 2006capital raising announcement▲ GoodMajor
Raises $12.45 million through a placement of 41.5 million shares at 30 cents, subject to shareholder approval. Funds $9.3 million to start building the Swan Hill ethanol plant in Victoria and $2 million for Beatrice biodiesel; more funding is still needed.
What it means for a shareholder
41.5m new shares at A$0.300 to raise about A$12.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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