Homey To answer your questions 1) I am not aware of any material institutional shareholdings as principal. CS holds shares on behalf of others (likely PB as a condition of his loan margined shareholdings). I am not aware of CS holding any oil stocks as principal. Can you please identify any institutional shareholders as principal. 2) you may well be correct that there is no tax event (I am not sure as I am not a tax accountant specialising in cross border capital gains tax) though the move to SGX is clearly not of interest to many small shareholders 3) yes correct all of our views on valuation are merely opinions 4) there is a clear need to raise capital. The upcoming Umiat drilling program alone will eat up most of their cashflow and they have very large interest payments coming. Is it plausible that they have already lined up equity in Singapore at a premium? Not really. Possible yes, but I'm quite confident that the company would have put the issue price and amount raised in the heading of the announcement or in the first line at the very least if they had already lined up capital at a premium. It would have mitigated the recent price collapse. 5) again just an opinion. Many believe that it was overvalued and the recent news was a trigger to go short. Shorters don't tend to short undervalued stocks with such vigor. 6) congratulations to you as well on a good, albeit much longer term, trade, the details of which you disclosed to us, which I do not find at all uncouth as this is a stock trading forum. 7) yes they have generated UCG licensing fees but they have sunk many times more capital into UCG and continue to do so without generating any commercial sustainable cashflows to date, as such I struggle to value UCG much higher than zero. Regards Everest
LNC Price at posting:
$1.23 Sentiment: Hold Disclosure: Not Held
