10-10-2014, 09:57 AM
What is happening to this counter? Price dropping like nobody business.
(10-10-2014, 09:28 AM)Boon Wrote: [ -> ]PB has stepped into the role of Executive Chairman.
Before - it was the CEO said
Now - it is the Executive Chairman said
Being the largest single shareholder of the company - it appears to me that he is still the one calling the shots.................regardless...
(vested)
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http://infopub.sgx.com/FileOpen/2014.10....eID=317699
10 October 2014
ADANI EXERCISES CALL OPTION WITH $90 MILLION FIRST PAYMENT DUE BY 14 OCTOBER
• Adani has exercised its call option under the $155 million Put and Call Option Deed to facilitate the transfer of Linc Energy’s interest in the Royalty Deed to Adani
• The first payment of AU$90 million is expected on or before 14 October 2014
Linc Energy Ltd (SGX:TI6) (OTCQX:LNCGY) is pleased to announce, further to its announcement of 28 August 2014, receipt of the call option pursuant to the Put and Call Option Deed with subsidiaries of the Adani Group (“Adani”) for the transfer of Linc Energy’s interest in the Carmichael Royalty Deed to Adani. The option exercise consideration under the Put and Call Option Deed is AU$155 million with the first tranche payment of AU$90 million expected on or before 14 October 2014. The second tranche payment of AU$65,000,000 is expected within twelve months from today. As Adani has exercised the call option, it is not necessary for Linc Energy to exercise the put option it had at its discretion.
Peter Bond, Executive Chairman of Linc Energy, said, “This is the first of many transactions the Company is working towards closing and we look forward to making further announcements as we continue the process of simplifying and focusing our Company on the development of our core assets and business.”