Linc Plans Listing on SGX to Boost Access to Capital Markets
Proposed SGX Listing and Share Offering
It is anticipated that the proposed SGX listing would be accompanied by an offering of shares to new investors. The funds raised by such an offering would be used to further the Company’s strategies to:
- accelerate development and commercialization of existing assets and increase its reserves through further exploration
- strengthen its leadership position as a provider of clean energy through UCG and GTL, enabling the Company to enter new markets and grow its asset base
- progress its planned Asian operations by identifying exploration, appraisal and development and execution of projects
- unlock value through strategic portfolio management; and
- optimize the Company’s capital base and maintain financial flexibility
Directors’ Recommendation
Shareholders will soon receive a Notice of Meeting for the EGM from the Company. The directors encourage shareholders to consider the issues outlined in the Notice of Meeting carefully and if necessary also seek professional advice.
The directors of Linc Energy consider that the delisting of Linc Energy from the ASX and the immediate listing on the SGX will be in the best interests of shareholders and recommend that shareholders vote in favour of the resolutions to be considered at the EGM.
Trading in Linc Energy Shares on the SGX after Delisting from the ASX
If the proposed transition from the ASX to the SGX receives shareholder, regulatory and exchange approval, Linc Energy shareholders would be required to trade their shares through SGX-approved Stockbrokers. Linc Energy has made arrangements with stockbrokers CommSec and Phillip Capital to offer assistance to shareholders if their current arrangements do not provide an SGX trading facility.
Indicative Transaction Timetable*
Notice of Meeting mailed to shareholders: Oct. 4
Extraordinary General meeting: Nov 6
ASX suspension of trading: From close of business Nov. 15
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