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[Edit - This was originally a reply to the Swing Media post which noted massive and recurring equity fund rising. I guess Admin decide to hive it off in a separate thread on its own. I'm providing the original link to Swing Media to give this post some prospective on the content]
Off hand I can think of one other company with massive equity fund raising/bonus issue/rights issue/convertible bonds/placement for a good number of yrs - HG Metal.
FY 2003 * 8 mil placement @ 0.20; 6,000,000l placement @0.2905 Share capital=91,330,000
FY 2004 * 22,832,495 bonus (1-for-4); 18,000,000l placement @0.3633 Share capital=132,162,000
FY 2005 * 44,053,665 bonus (1-for-3) ; Share capital=176,216,000
FY 2007 * 31,171,147 Convertible Bonds; 956,499 warrants exercise; 74,039,747 2-for-5 rights issue@$0.20; 37,000,000 placement shares@0.52 Share capital=318,532,000
FY 2008 * 13,500 exercise of warrants; 106,177,458 bonus (1-for-3); Share capital=424,532,000
FY 2009 * 125,957,401 1-for-2 rights issue; 225,000,000 placement @0.10; Share capital=775,672,000
I'm actually impressed that management can continue to engage 'long-term strategic investor' to keep taking stake in the company.
(Vested in HG Metal
)
Off hand I can think of one other company with massive equity fund raising/bonus issue/rights issue/convertible bonds/placement for a good number of yrs - HG Metal.
FY 2003 * 8 mil placement @ 0.20; 6,000,000l placement @0.2905 Share capital=91,330,000
FY 2004 * 22,832,495 bonus (1-for-4); 18,000,000l placement @0.3633 Share capital=132,162,000
FY 2005 * 44,053,665 bonus (1-for-3) ; Share capital=176,216,000
FY 2007 * 31,171,147 Convertible Bonds; 956,499 warrants exercise; 74,039,747 2-for-5 rights issue@$0.20; 37,000,000 placement shares@0.52 Share capital=318,532,000
FY 2008 * 13,500 exercise of warrants; 106,177,458 bonus (1-for-3); Share capital=424,532,000
FY 2009 * 125,957,401 1-for-2 rights issue; 225,000,000 placement @0.10; Share capital=775,672,000
I'm actually impressed that management can continue to engage 'long-term strategic investor' to keep taking stake in the company.
(Vested in HG Metal
)
