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Genting exercises option to buy 10.75m shares in Linc Energy

Published on Jun 12, 2014 9:53 AM

SINGAPORE - Oil and gas producer Linc Energy said on Thursday that Genting Strategic Investments (Singapore) has exercised its option to buy an additional stake in the company.

Genting Strategic will acquire 10.75 million shares in Singapore-listed Linc Energy at $1.20 per share, Linc said.

It will issue the new shares to Genting Strategic, a wholly-owned subsidiary of Genting Berhad - and apply for them to be listed.

The call option was agreed on by Linc and Genting Strategic on December 11 last year.

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