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Linc Energy seeks voluntary suspension of trading
OIL and gas exploration firm Linc Energy is requesting for its shares to be suspended as it seeks more time to continue and complete discussions relating to its debt restructuring and recapitalisation efforts.
The company had on March 24 requested for a trading halt pending the release of an announcement on the negotiations.
"These negotiations are necessarily complex, involving multiple parties and their advisors across multiple jurisdictions and time zones," the firm said in an announcement on Wednesday. "As such, more time is required to continue and complete discussions prior to any further announcements."
Linc Energy said it hopes to "materially progress" the talks in early April, and provide further updates on the outcome before the next coupon payment for its US oil and gas subsidiary comes due on April 30.