Would it be safe to 'assume' that LNC know that the sale will still be some time away?
25/5/09: Recent issue of 3 convertible notes valued at $1million each.
"Each Convertible Note will have a face value of $1,ooo,ooo and bear interest at a rate of 10%"
"The purpose of the issue is to provide continued funding for the Company's operations."
Also does this statement from the 5 feb 2009 announcement: "Linc Energy cannot provide any additional comment on the value that it anticipates receiving at this time." Would this be breaking ASX rules if the sale price($1.5B) has changed and Linc still havent updated the market by now?
This ongoing debate is why I was suspicious when Linc raised $27m last year after they announced 'the sale'!
The wait continues.
LNC Price at posting:
$2.11 Sentiment: None Disclosure: Not Held
