"We believe this to be the most cost effective way of accessing the capital needed to continue to develop our oil and gas assets when our share price is trading at what we believe is a very significant discount to fair value. We do not want to issue equity or convertible debt in the current market, which arguably would be very expensive money based on our current share price."
Q If you believe that the share price is at a discount surely you must have considered a corporate raising.
If u hold 40% of the shares it would have given you the opportunity to subscribe at a significant discount?
Last year you used the shareholders money in a buyback at between $1.80 and $2.00 and the oil business is so much stronger now surely you must have been tempted at these levels?
If not why not Mr Bond?
LNC Price at posting:
62.0¢ Sentiment: None Disclosure: Not Held
