Pyromex process is a nice patented technology and Linc have the Australian rights (I think).
Roman Abramovich recently bought into a similar company - waste2tricity.
There are expanding synergies between Linc, PB and RA. I support Linc being involved in this plasma gasification technology. It has huge potential to end the waste problem for mankind.
The very minor fear I have is that if the options are taken up by Linc CEO, Linc share of PHE might go from 9.99% to a very small number - If PHE just repay the loan at 15% then PB has done a very big personal favour to Linc holders (including himself :) ).
It may be that Linc was not in position to lend PHE 0.5M when they needed it and that would open the door to PB taking up the opportunity personally but if that personal opportunity was taken by the Linc CEO in the knowledge of what would happen to Linc interests withoout giving Linc first option we might have a conflict of interest situation, thats not for me to know, and nobody can know until the options are taken to convert debt to equity. Having said all of that, a diminshed share of a much much more valuable company is likely worth more to LNC holders than a bigger share of zombie company with an uncertain future (PHE insolvency?). So the situation is not necessarily bad at all but perhaps it's not as good as it might have been for Linc holders if it all plays out for PHE from here. If PB doesnt take up the equity conversion option then it is PB doing LNC holders a favour IMO.
LNC Price at posting:
$1.82 Sentiment: LT Buy Disclosure: Held
