Australia's Linc Energy Ltd., a company focused on conventional and unconventional oil and gas production, announced that at Wednesday's Extraordinary General Meeting, Linc Energy's shareholders approved resolutions to delist from the Australian Securities Exchange and, subject to final regulatory approval, list on the Singapore Exchange Securities Trading Limited (SGX).
Commenting on the approval, Ken Dark, chairman of Linc Energy said, "I wish to thank shareholders for supporting our move to SGX. This change is the outcome of a strategic review into realizing the value in Linc Energy and I am confident the move to the SGX will facilitate this value creation."
CEO and Managing Director of Linc Energy, Peter Bond added, "Since listing on the ASX in 2006, Linc Energy has grown into a diversified global energy group. Today, we have a portfolio of conventional and unconventional oil, gas, shale and coal assets, located across Australia and the U.S., with our unique proprietary underground coal gasification (UCG) technology on the cusp of commercialization."
"Whilst our story continues to evolve, we remain focused on developing our assets and unlocking share price value as we do so."
"Singapore is an international capital markets center, as well as an emerging oil and gas hub, and is the ideal platform to facilitate Linc Energy's long term Asian growth strategy. I expect the move to the SGX to be a catalyst of change which will allow Linc Energy to broaden its investor base and improve access to oil & gas and energy investors from around the world who appreciate and recognize the full value of our considerable asset base for shareholders."
Following the delisting from the ASX and listing on the SGX, Linc Energy's operations will remain unchanged and the Company will continue to be headquartered in Brisbane.
Indicative transaction timetable
The dates listed above are indicative only and subject to change.
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