Linc Energy Ltd (SGX:BRE) (OTCQX: LNCGY) wishes to announce that the Company issued and allotted an aggregate of 15,618,232 new ordinary shares in the capital of the Company on conversion of US$7,875,000 of the US$115,374,750 principal amount outstanding 7.0% Convertible Notes Due 2018 (the “Convertible Notes”) at S$0.71 per share. The principal amount outstanding of the Convertible Notes following the conversion is US$107,499,750.
This conversion from convertible notes to shares is not done on a 1 for 1 basis !!
I note from the report that U.S. 7.8 m notes converted to 15.6 M shares correct me if I'm wrong but as I've said previously we don't know the amount of cash received for converting these notes?
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Not Held
