LINC ENERGY LTD
Sapex Investors Overwhelmingly Vote Yes To Merger
LNC - Update on Sapex Merger - Mr Peter Bond, CEO
Mon, 29 Sep 2008 09:00AM
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Mr Peter Bond
Mon, 29 Sep 2008
09:00AM Australia/NSW
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LINC ENERGY LTD (LNC)
ASX code: LNC
Website: http://www.lincenergy.com.au/
Industry: Energy
Principal Activities:
Supplier of environmentally friendly power, diesel and jet fuels.
Address:
, 10 Eagle Street, Level 7,
BRISBANE
QLD
Phone: (07) 3229 0800
Fax: (07) 3229 6800
Executives & Directors
Mr Brian Johnson , Chairman, Non Exec. Director
Mr Peter Bond , Managing Director
Mr Ken Dark , Non Exec. Director
Mr Stephen Dumble , Chief Op. Officer
Mr Rob Stratford , CFO
Mr Craig Ricato , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
LINC ENERGY LTD (LNC) Events
Australia/NSW
LINC ENERGY LTD (LNC)
| Chinchilla GTL Demonstration Plant Update | Mon, 29 Jun 2009 |
| Appendix 3B | Mon, 29 Jun 2009 |
| Appendix 3B | Fri, 26 Jun 2009 |
| Company Update | Wed, 24 Jun 2009 |
| Trading Halt | Mon, 22 Jun 2009 |
| Change of Registered Office | Mon, 22 Jun 2009 |
| Galilee Basin Drilling Program (12/06/09) | Thu, 18 Jun 2009 |
| Update on Linc Energy`s Galilee Basin exploration program | Fri, 12 Jun 2009 |
| Appendix 3B | Mon, 25 May 2009 |
| Appendix 3B x 2 | Fri, 15 May 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH PETER BOND, CHIEF EXECUTIVE OFFICER OF LINC ENERGY LIMITED (LNC)
“Sapex Investors Overwhelmingly Vote Yes To Merger”
http://www.brr.com.au/event/51829
MONDAY, SEPTEMBER 29, 2008, 9:00 AM.
BRR Welcome to Boardroom Radio. Today we are joined by Mr. Peter Bond, Managing Director of Linc Energy. Thanks for joining us today, Peter.
10 LNC Thanks, Eddie. Great to be here.
BRR Peter, Linc has had some developments today regarding its merger with SAPEX both with shareholders and option holders overwhelmingly voting yes to the merger. You must certainly be pleased with the response.
15 LNC Absolutely. It was a fantastic result. I think it was something like 95% in the affirmative for shareholders and 99% for option holders, so an overwhelming vote of support on Linc’s merger with SAPEX. We could not be more delighted about it.
20 BRR Peter, could you just give us some details of the merger including what has been agreed to for the shareholders and option holders?
LNC Absolutely. Linc was offered 72 cents per share and 50 cents per option. At the time of the original IPO of SAPEX, which was I think just over a year ago, about 15 months ago, a shareholder is given a free option every two shares.
25 It is a great result for the shareholders of both SAPEX and they have the ability to either take cash or Linc’s script and we would be very happy to have them as shareholders or they can take the profit as their directors have managed to arrange for them over this last year or so. So it was a great result for both shareholder groups. Linc shareholder (inaudible) (0:01:25)
30 considerable asset in South Australia that we are intending to develop fairly rapidly and across the SAPEX shareholders. They have a great result in terms of profit over a relatively short of period of time.
BRR Lastly, Peter, what is still required from Linc and SAPEX to complete the
35 merger and what can we expect moving forward when the merger is finalised?
LNC This is probably the last of the major milestones. We have got a couple of more steps we need to do to formalise it. There is a legal process that takes a couple of days and then a calculation of whether people want script or cash,
40 etc. and then just the normal formalising of the payment of that desired option to the SAPEX shareholders. So once that is completed, which is a fairly short process, over the coming couple of weeks, then that is the end of the process. So this is probably the finalisation of most of the work. The rest is really just a completion of formality and of course the actual sending out of
45 the relevant payment in either shares or script. In terms of going forward, Linc is already drilling on the site which was started under the original MOU that we had with SAPEX. We will be aggressively moving forward on the drilling of coal in that area, and on top of that, we will be actively pursuing some of the petroleum assets that SAPEX has. There is extraordinary prospective acreage there and a great deal of potential. So we are very eager to start to unlock some of that value.
BRR Peter, we thank you for taking the time out today to update us on this
5 milestone for Linc Energy and we look forward to speaking to you soon.
LNC Thanks very much to Boardroom Radio and I think it is a great day for both Linc Energy shareholders and SAPEX shareholders. It has been probably one of the smoothest mergers you could orchestrate and it has been extraordinarily well managed particularly for the SAPEX team management
10 and certainly Linc as well. It has been an extraordinary outcome. Thanks again for asking me on.
BRR That was Mr. Peter Bond, Managing Director of Linc Energy. If you have any questions about this broadcast or any other broadcast, please feel free to
15 contact us on brr@brr.com.au. I am Eddie Saade and thank you for listening to Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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