11 July 2022capital raising announcement● Neutral
Letter telling option holders they must exercise before the 14 July 2022 record date to take part in the entitlement offer. No obligation to exercise. Administrative.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 July 2022capital raising announcement● Neutral
Notice that shareholders outside Australia, New Zealand and certain UK institutions cannot take part in the $0.01 entitlement offer. Their entitlements will be sold by a nominee, with any net proceeds paid to them. Administrative.
11 July 2022capital raising announcement● NeutralMajor
Announces a 1-for-1 renounceable entitlement offer at $0.01 per share to raise about $7.745M before costs, not underwritten. Funds go to the Bayan litigation, working capital and repaying the Flannery-linked loan. Directors intend to take up their entitlements.
16 Apr 2020capital raising announcement● NeutralMajor
Entitlement offer closed with about $10.8M taken up by shareholders. The underwriters, entities of directors Flannery and Duncan, took the roughly $4.7M shortfall, bringing the total to about $15.5M (258.16M shares at $0.06).
What it means for a shareholder
258m new shares at A$0.060 to raise about A$15.5m. That's 33% dilution: every existing holder's slice gets 33% smaller. If you held A$1,000 of shares (16,667 at the issue price), your slice goes from 0.00323% to 0.00215% of the company. To keep it you'd need 8,333 more shares - about A$500 at the issue price.
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24 Mar 2020capital raising announcement● Neutral
Offer booklet and personalised forms sent to eligible shareholders and the entitlement offer is now open, closing 5pm on 9 April 2020 unless extended. Administrative.
13 Mar 2020capital raising announcement● NeutralMajor
White Energy launches a 1-for-2 renounceable entitlement offer at $0.06 to raise about $15.5M, an 18.92% discount to $0.074. It is fully underwritten by entities of directors Flannery and Duncan. Funds go to the Bayan case and about $3.2M owed to CSIRO.
13 Mar 2020capital raising announcement● Neutral
Offer booklet for the 1-for-2 entitlement offer at $0.06 per share, closing 9 April 2020. Documents the terms already announced; no new figures in the readable text.
5 Mar 2019capital raising announcement● NeutralMajor
Placement of 20M shares at 7.0 cents to an existing major shareholder, raising $1.4M before costs, under existing placement capacity. Same price as the November entitlement offer. Allotment 12 March.
What it means for a shareholder
20.0m new shares at A$0.070 to raise about A$1.4m. That's 3.9% dilution: every existing holder's slice gets 3.9% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.00288% to 0.00277% of the company. To keep it you'd need 576 more shares - about A$40 at the issue price.
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14 Nov 2018capital raising announcement● NeutralMajor
The entitlement offer closed with 147.7M shares taken up ($10.3M) plus 0.33M additional shares; 180.4M shares ($12.6M) were not taken up. Of the $22.99M maximum, about $10.4M is raised, and directors are weighing placing the shortfall.
1 Nov 2018capital raising announcement● Neutral
Entitlement offer closing date extended from 6 to 9 November 2018 to give eligible shareholders more time to consider taking part. Results now due 14 November and allotment 16 November.
16 Oct 2018capital raising announcement● Neutral
Offer booklet and personalised forms posted to eligible shareholders; the entitlement offer is now open and closes 5pm Sydney time on 6 November 2018 unless extended. Administrative.
8 Oct 2018capital raising announcement● Neutral
Formal offer document for the 1-for-1 renounceable entitlement offer at $0.07, closing 6 November 2018. Offered in Australia and New Zealand (plus certain UK institutions) only. Carries no new terms beyond the 8 October announcement (text truncated).
8 Oct 2018capital raising announcement● NeutralMajor
White launches a 1-for-1 renounceable entitlement offer at $0.07 a share to raise up to about $22.99M, a 16.7% discount to the last close. Funds go to the Bayan litigation, repaying the two directors' loans and working capital. Not underwritten; directors intend to take up their entitlements.
27 Oct 2010capital raising announcement▲ GoodMajor
The SACL subscription rights offer raised A$57.3m, against a maximum of about A$58.3m. Completes the rights thread; funds are earmarked for the Indonesian and US upgrading plants and for coal acquisitions in Australia and elsewhere.
12 Aug 2010capital raising announcement▲ GoodMajor
White issued 13,846,170 shares to SACL holders (11 Aug), 30m placement shares raising A$75m (10 Aug) and 3.6m shares from A$1.20 options. This completes the placement and SACL share consideration; issued capital is now about 284.2m shares.
4 Aug 2010capital raising announcement● Neutral
Appendix 3B for issues tied to the SACL takeover close: up to 13,856,170 ordinary shares and up to 15,003,616 each of 2010 and 2011 performance shares to SACL holders, plus the 30m-share placement. Final numbers due around 11 August.
1 Dec 2009capital raising announcement● NeutralMajor
White launched its share purchase plan: eligible holders can buy up to A$4,999.20 (2,083 shares) at A$2.40, the same price as the placement, an 11.76% discount to A$2.72. Underwritten by Southern Cross Equities, capped at A$6m, after an ASX waiver.
What it means for a shareholder
2,083 new shares at A$2.40 to raise about A$4,999. That's 0.00094% dilution: every existing holder's slice gets 0.00094% smaller. If you held A$1,000 of shares (417 at the issue price), your slice goes from 0.000188% to 0.000188% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
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11 Nov 2009capital raising announcement● NeutralMajor
White accepted a A$100m placement of 41.67m shares at A$2.40 (28.8m now, 12.87m after a mid-December EGM), and plans a A$6m share purchase plan. The ASSAC merger is withdrawn by mutual agreement as conditions were unlikely to be met, ending the US$2.50 deal.
What it means for a shareholder
41.7m new shares at A$2.40 to raise about A$100m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (417 at the issue price), your slice goes from 0.000216% to 0.000178% of the company. To keep it you'd need 90 more shares - about A$216 at the issue price.
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30 June 2009capital raising announcement▲ Good
The share purchase plan raised A$2,623,463 from 578 shareholders, who applied for 1,748,975 shares at A$1.50. Figures depend on cheques clearing. This is a small top-up to the A$55m placement.
What it means for a shareholder
1.7m new shares at A$1.50 to raise about A$2.6m. That's 0.99% dilution: every existing holder's slice gets 0.99% smaller. If you held A$1,000 of shares (667 at the issue price), your slice goes from 0.000381% to 0.000377% of the company. To keep it you'd need 7 more shares - about A$11 at the issue price.
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22 June 2009capital raising announcement● Neutral
Reminder that the share purchase plan closes 26 June 2009, with shares to be issued 3 July and quoted 6 July. Timetable notice only, no new information.
28 May 2009capital raising announcement● Neutral
Details of the share purchase plan flagged on 21 May: eligible Australian shareholders can buy A$1,999.50 to A$4,999.50 of shares at A$1.50, a 3.8% discount to the last price. It closes 26 June and adds to the A$55m placement.
21 May 2009capital raising announcement▲ GoodMajor
White raised A$55m through a placement of 36.667m shares at A$1.50, a 5.7% discount to the 30-day average price. 21.075m shares were issued now; 15.592m need shareholder approval. Funds are for the Buckskin and Peabody plants and working capital, following the December 2008 cash of A$10.7m.
What it means for a shareholder
36.7m new shares at A$1.50 to raise about A$55.0m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (667 at the issue price), your slice goes from 0.000433% to 0.00035% of the company. To keep it you'd need 159 more shares - about A$239 at the issue price.
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8 Dec 2008capital raising announcement▲ GoodMajor
The 25-cent option exercise program closed, raising A$4.02m, with about 99% of 16,255,000 options exercised. Major shareholders took 54.6% and director-related entities 28.2%. Only 170,100 options lapsed. All 30 November 2008 option classes are now cleared.
1 Oct 2008capital raising announcement▲ GoodMajor
BHP Billiton converted US$7.5m of its convertible facility into shares at a 10% discount to the 23 September 2008 reference price, giving it 2.43% of White. The shares are escrowed for 12 months. This reduces the facility balance and adds a new shareholder.
15 Oct 2007capital raising announcement▲ GoodMajor
White raised A$45m through five-year unsecured convertible notes, convertible at A$3.44 per share (a 20% premium to the 30-day average) with a 7.90% annual yield. Noteholders can redeem at year three. Led by existing shareholder Deephaven; funds are for rollout, especially in the US.
2 Apr 2007capital raising announcement● NeutralMajor
Responding to a press article, White confirms a Level 1 ADR program via Bank of New York (awaiting US approval) and has hired Jefferies to advise on a proposed US capital raising, with a US roadshow in late April. No size or price given.
9 Aug 2006capital raising announcement▲ GoodMajor
White Energy placed 23,983,333 shares at A$0.96 to institutions, raising A$23.024m versus the $20m planned. Shares on issue rise to 119.9m. Funds will pay White's share of the first Bayan plant. Completes the second raising tranche.
What it means for a shareholder
24.0m new shares at A$0.960 to raise about A$23.0m. That's 42% dilution: every existing holder's slice gets 42% smaller. If you held A$1,000 of shares (1,042 at the issue price), your slice goes from 0.00309% to 0.00181% of the company. To keep it you'd need 741 more shares - about A$711 at the issue price.
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17 July 2006capital raising announcement● Neutral
Short-form prospectus for a nominal issue of up to 8,000 shares at $1.00. Its purpose is to let about 21 million shares issued to sophisticated investors be freely tradeable. A technical compliance document; the real raising is the placement.
What it means for a shareholder
8,000 new shares at A$1.00 to raise about A$8,000. That's 0.0237% dilution: every existing holder's slice gets 0.0237% smaller. If you held A$1,000 of shares (1,000 at the issue price), your slice goes from 0.00297% to 0.00297% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
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22 June 2006capital raising announcement● Neutral
EGM set for 28 June to approve the White acquisition and a placement of up to 35 million shares; trading suspended the day before, with restart expected by 3 July. The Share Purchase Plan drew only 242,003 shares, raising $229,903, far below the 5m-share cap.
22 June 2006capital raising announcement● Neutral
Prospectus lodged 21 June 2006 offering up to 5,000,000 options to Share Purchase Plan participants, plus an offer to White Energy Technology shareholders. Conditional on the 28 June meeting. Supports the White acquisition and ASX re-admission; shares are described as speculative.