Linc Energy to delist from ASX

Energy group requests listing on Singapore Exchange to broaden shareholder base, improve access to international investors.

Linc Energy (LNC) will seek shareholder approval to delist from the Australian Securities Exchange and request to list immediately on the Singapore Exchange.

In a statement to the Australian Securities Exchange, Linc said the ASX has agreed to delist the company if shareholders approve and if the company provides terms of the ASX's decision to the market.

The company said Singapore was a rapidly emerging oil and gas hub and listing there would help unlock the value of its oil, gas and coal assets.

Linc said listing there would help it broaden its shareholder base and improve access to international investors.

The move will improve access to capital markets, reposition the business to deliver its long-term growth strategy, and help the company benefit from increasing demand for oil and gas in Asian markets, Linc said.

The company said coinciding with the Singapore listing, it is considering offering shares to new investors.

Its headquarters will stay in Birsbane and it will still invest in and develop its Australian assets, Linc said. 

After delisting Linc would no longer be subject to the ASX listing rules but would still be bound by the Corporations Act and its continuous disclosure requirements, the group said.