This announcement is complete spiv. The combined market cap of all stocks listed on the Singapore exchange is roughly half that of the ASX. The average daily turnover of the mkt is ~A$1bn for Singapore vs ~A$5bn for Australia. Therefore Singapore is a much smaller and much less liquid exchange than the ASX. Also, they do not have a listed Oil & Gas sector in Singapore vs a large listed O&G sector in Australia (hence why LNC will be the largest O&G company listed on the SGX).
So to say that this is a way to access new and deep capital markets is complete rubbish.
There is no rational reason for him to move the listing but I suggest it is because he doesn't want Linc to be compared with a bunch of other ASX listed companies that are actually producing enough oil to generate positive cash flow!
LNC Price at posting:
$1.26 Sentiment: Sell Disclosure: Not Held
