Each one in plain English, with the numbers worked through for a shareholder.
8 Dec 2022capital raising announcement▲ GoodMajor
Renascor completed the A$70m placement of about 254.5m shares at $0.275, with domestic and offshore institutions taking part. Pro-forma cash is A$140m before costs. Management says it allows earlier construction of the Siviour mine, with a final investment decision targeted for 2023.
What it means for a shareholder
255m new shares at A$0.275 to raise about A$70.0m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (3,636 at the issue price), your slice goes from 0.000194% to 0.00017% of the company. To keep it you'd need 493 more shares - about A$136 at the issue price.
Renascor launched a fully underwritten institutional placement of about 254.5m shares at $0.275 to raise roughly A$70m, a 14.1% discount to the last close. Funds bring forward construction of the Siviour mine and concentrator after the PEPR approval; pro-forma cash is A$140m.
What it means for a shareholder
255m new shares at A$0.275 to raise about A$70.0m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (3,636 at the issue price), your slice goes from 0.000194% to 0.00017% of the company. To keep it you'd need 493 more shares - about A$136 at the issue price.
The Share Purchase Plan closed with only $279,000 of applications, far below the $10m target; $126,500 came from holders possibly ineligible, to be issued as a placement. Cash is about $75m, and the $185m EFA loan remains conditional.
Share Purchase Plan booklet offers eligible Australian and New Zealand shareholders up to $30,000 of shares at $0.27, the same price as the placement. The offer opens 4 May and closes 17 May 2022. Administrative follow-on to the placement.
Renascor raised $65m through a placement of about 241m shares at $0.27, a 12.9% discount to last close, plus a Share Purchase Plan of up to $10m. Funds go to engineering, long-lead items and an expanded Stage 1; pro-forma cash is $80m.
What it means for a shareholder
241m new shares at A$0.270 to raise about A$65.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (3,704 at the issue price), your slice goes from 0.000197% to 0.000175% of the company. To keep it you'd need 475 more shares - about A$128 at the issue price.
Renascor raised about $15m via an institutional placement of 187.5m shares at $0.08, an 11.1% discount to the last close. The company says this funds Siviour through to a final investment decision, with construction targeted for 2022. Cash was just $4.1m at March.
What it means for a shareholder
188m new shares at A$0.080 to raise about A$15.0m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (12,500 at the issue price), your slice goes from 0.000742% to 0.000667% of the company. To keep it you'd need 1,391 more shares - about A$111 at the issue price.
Prospectus offers listed options at 2 cents expiring 31 December 2022: 156.3m to placement participants, 20m to lead manager 180 Markets and about 6.1m to directors. This completes the free options attached to the September placement. Not offered to the general public.
Renascor has firm commitments for a $3.6m placement at 1.1 cents a share, a 14.4% discount to the 5-day VWAP, with one free option per two shares (2 cents, two-year expiry). Funds go to Siviour graphite work, Carnding gold exploration and working capital. Directors plan to join, subject to shareholder approval.
The share purchase plan closed with valid applications for $500,000, bringing the total raised with the December placement to $1.883m at $0.011. Directors applied for $137,000 of placement shares, which still need shareholder approval. This resolves the raising.
The share purchase plan closing date is extended two weeks to 3 January 2020 because shareholders reported slow postal delivery. The offer remains up to $500,000 at $0.011, with shares now due to be allotted on 13 January 2020.
Offer letter and booklet for the share purchase plan: eligible holders can apply for up to A$30,000 of shares at A$0.011 to raise up to A$0.5m, alongside the A$1.4m placement. Closes 20 December 2019. Funds go to bulk sampling, FEED and debt work.
5 Dec 2019capital raising announcement● NeutralMajor
Raising $1.4m through a placement of 125.7m shares at 1.1 cents, a 15.4% discount to the last close, to fund FEED, bulk samples and offtake work. A share purchase plan will offer up to $0.5m more at the same price. This addresses falling cash ($1.8m at 30 September).
What it means for a shareholder
126m new shares at A$0.011 to raise about A$1.4m. That's 9.8% dilution: every existing holder's slice gets 9.8% smaller. If you held A$1,000 of shares (90,909 at the issue price), your slice goes from 0.00784% to 0.00707% of the company. To keep it you'd need 9,856 more shares - about A$108 at the issue price.
Completion of placement tranche 2: 81,438,980 shares issued raising $2.2m before costs, taking shares on issue to 961.3m. Fees about $206,000. Completes the 30 April placement.
What it means for a shareholder
81.4m new shares at about A$0.027 to raise about A$2.2m. That's 7.8% dilution: every existing holder's slice gets 7.8% smaller. If you held A$1,000 of shares (37,018 at the issue price), your slice goes from 0.00385% to 0.00355% of the company. To keep it you'd need 3,136 more shares - about A$85 at the issue price.
1 June 2018capital raising announcement▲ GoodMajor
Share Purchase Plan closed with about $1.2m of valid applications, taking the April placement plus SPP to over $7.7m, at 2.7 cents. Tranche 2 (~$2.2m) awaits a general meeting on 22 June 2018. Less than the $2m SPP maximum.
Share Purchase Plan offer documents: eligible holders can buy up to $15,000 of shares at 2.7 cents, a 17.02% discount to the five-day VWAP. Raises up to $2m, opens 11 May, closes 28 May. Implements the 30 April announcement.
Completion notice for placement tranche 1: 159.3m shares issued, raising $4.30m before costs, taking shares on issue to 831.5m. Fees about $290,000. Implements the 30 April placement; no new information.
What it means for a shareholder
159m new shares at about A$0.027 to raise about A$4.3m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (37,047 at the issue price), your slice goes from 0.00551% to 0.00446% of the company. To keep it you'd need 8,779 more shares - about A$237 at the issue price.
Firm commitments for a $6.5m placement at 2.7 cents per share, to fund the definitive feasibility study (due Q1 2019) and Olary cobalt drilling. A Share Purchase Plan of up to $2m at the same price follows. Tranche 2 (about $2.2m) needs shareholder approval.
Prospectus offering listed options at $0.03 expiring 31 Oct 2019: about 60.3m to tranche 1 investors, 26.9m to tranche 2, 25m to lead managers and 2.5m to directors. Completes the free-option part of the September placement; not open to the public.
Placement of about $3m at $0.017 per share (up to about 179.5m shares) with one free option per two shares, exercisable at $0.03 until 31 Oct 2019. $2.05m comes first; $1m from directors and others needs shareholder approval. Funds advance Siviour studies.
What it means for a shareholder
180m new shares at about A$0.0167 to raise about A$3.0m. That's 27% dilution: every existing holder's slice gets 27% smaller. If you held A$1,000 of shares (59,833 at the issue price), your slice goes from 0.0124% to 0.00903% of the company. To keep it you'd need 22,246 more shares - about A$372 at the issue price.
14 Oct 2016capital raising announcement● NeutralMajor
Bizzell Capital Partners will use its right to place up to 20m shares at $0.03 to raise up to $600,000. BCP, linked to chair Stephen Bizzell, intends to take part, subject to shareholder approval at the AGM. Funds go to Siviour and working capital.
What it means for a shareholder
20.0m new shares at A$0.030 to raise about A$600,000. That's 4.5% dilution: every existing holder's slice gets 4.5% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.0078% to 0.00745% of the company. To keep it you'd need 1,560 more shares - about A$47 at the issue price.
72% of the listed 3-cent options were exercised, raising $1,394,633 from 46.5m options. The underwriter placed the 17.87m-share shortfall at $0.03, adding $536,151, for about $1.93m total to accelerate Siviour development and working capital.
Renascor signed an underwriting deal with Bizzell Capital Partners, linked to chair Stephen Bizzell, guaranteeing $1.9m from the 3-cent options expiring 30 September. BCP may also place up to $600,000 of shares by 14 October, with fees of 6% and 5%. This resolves the open question of funding after option expiry.
Details the $711,000 placement: 47.4m shares and 11.85m options issued, taking shares from 237.1m to 284.5m, about 8.33% dilution under the 7.1 and 7.1A capacities. Fees about $42,660. Completes the first tranche of the 11 May raising.
11 May 2016capital raising announcement● NeutralMajor
Raises $1.1m at $0.015 per share, with one free $0.03 option (expiring 30 Sep 2016) per four shares. $711,000 is placed now and $389,000 is conditional on shareholder approval. Funds Siviour expansion drilling and metallurgical work; addresses the low cash flagged in the April quarterly.
8 July 2015capital raising announcement▲ GoodMajor
Raising completed at $1.5m: $1.0m through the entitlement offer (retail $284,012, institutional $630,000, rest from underwriters) plus Acorn's $500,000, all at $0.02. A shortfall of 19.1m shares remains, which the company may place until 3 October. Drilling has begun.
3 June 2015capital raising announcement▲ GoodMajor
The institutional part of the one-for-two entitlement offer raised $630,000 at $0.02 a share, with shares issued 12 June. It forms part of the up to $1.883m raising with Acorn's $500,000 placement; Extension Tank drilling is due later in June.
2 June 2015capital raising announcement● NeutralMajor
Raising up to $1.883m at $0.02 per share: $500,000 placement of 25m shares to Acorn Capital plus a one-for-two rights offer to raise up to $1.383m, underwritten to $1m. Every two new shares carry a free $0.03 option. Funds the Extension Tank drilling due this month.
Retail offer booklet for the one-for-two rights issue at $0.02, with a free $0.03 option (expiring 30 September 2016) per two new shares. Offer runs 10 June to 3 July 2015, underwritten to $1.0m by Bizzell Capital Partners and PAC Partners. Documents the raising already announced.
2 June 2014capital raising announcement▲ GoodMajor
Share Purchase Plan closed with applications for 9.91m shares, raising $495,500 at $0.05. Combined with the $584,500 placement, total raised is $1.08m, for Eastern Eyre drilling. Completes the raising launched in April.
What it means for a shareholder
9.9m new shares at A$0.050 to raise about A$495,500. That's 7.5% dilution: every existing holder's slice gets 7.5% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.0165% to 0.0152% of the company. To keep it you'd need 1,632 more shares - about A$82 at the issue price.
Placement shares issued: 6,640,000 at $0.05 raising $332,000, lifting shares on issue from 114.8m to 121.44m (5.47% dilution). Fees about $40,000. Remaining placement shares, including the directors' portion, await approval.
