The company was suspended from trading for quite some time. While they were suspended QGL placed a bid for the company to acquire LML Shares. The company then recapitalised and in the process of the new capital coming in the old board and management were removed. As the company was under a takeover bid, the capital raise shares were not entitled to the QGL takeover offer. When the company relisted the New shares in the company that are not eligible for the QGL takeover offer trade as LMLND. Securities that are eligible for the QGL takeover are trading as LML. LML and LMLND rank equally in all other respects. It should be noted that the number of LMLND shares on issue is greater than LML. This means that QGL can't takeover Lincoln Minerals as the current offer only included LML Shares and even if they acquired 100% of LML they would not have 50% of the company. The two codes will trade on the ASX until the QGL Bid expires or is withdrawn, at which point LMLND will trade as LML.
For long term investors LMLND would be a cheaper point of entry
LML Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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