history of share placements

Excluding a few million options conversions and minor employee share placements, the following list includes all the significant share placements since RES consolidated the registry in early 2009.

27th Jan 2009 – Post Consolidation 72,975,537 shares on issue.

13 Mar 2009 - 3,750,000 @ NIL consideration - Isicebi Carbon Mining Limited - 76,725,537

27 Jul 2009 - 30,729,083 @ 40c - rights issue - 107,797,929

29 Jul 2009 - 46,339,763 @ 40c - rights issue shortfall - 154,137,692

01 Dec 2009 – 4,650,000 @ NIL consideration Employee Share Plan - 158,937,692

25 Jun 2010 – 5,000,000 @ 50c – Facilitate JSE Listing – 164,412,477

14 Sep 2010 – 18,268,053 @ 57.5c – CESC – 182,680,530

05 Nov 2010 – 27,400,000 @ 50c – CitiGroup rail & land acquisitions – 210,080,530

08 Dec 2010 – 1,220,000 @ 50c – Share Purchase Plan – 211,300,530

15 Dec 2010 – 32,600,000 @ 50c – Citigroup 2nd Tranche – 243,900,530

21 Apr 2011 – 5,800,000 @ NIL consideration – Employee Share Plan – 250,200,530

08 Jun 2011 – 12,195,122 @ 82c – Bantel Singapore (CESC) - 262,895,652

---

14,200,000 shares issued for NIL consideration as part of Employee Share Plan (ESP) and to Isicebi Carbon Mining.

173,752,021 shares issued since the January 2009 consolidation and all at a higher price than the current share price.

Total funds raised through placements = $84,441,668.92 (approx)
Average placement price $0.486 cents (total funds raised / number of shares issued).

Obviously, many millions of shares have changed hands over the years at higher and lower prices.

Many of the long term RES holders both large and small have average buy prices way above the current SP. I wonder what PJ & SM's average buy is considering over 10m shares have been issued to them at NIL consideration as part of the ESP. People often remark about how they've invested a lot of their own money, but surely by now they'd be both sitting on massive profits. Not criticising our Management team in the slightest as I believe they've done an amazing job and deserve every reward ... just sayin'!

With all this in mind, the re-IPO needs to benefit existing holders as much as (if not more so) than the participants of the cap-raising. I'm really hoping PJ & SM pull out something big and set a placement price that reflects the future potential of the project.

Somewhere in the vicinity of $2 will do nicely! At the end of the day, the fewer shares issued the better!