Linc Energy to raise S$2.9m by placing out 24m new shares

OIL and gas company Linc Energy said it has entered into agreements to raise S$2.9 million by placing out 24 million new shares at S$0.12105 apiece.

It also said it has received indicative support from noteholders holding over 69 per cent of its US$200 million 7 per cent convertible notes due 2018, for its plans to amend various terms of the notes.

Linc Energy closed at S$0.136, up S$0.006, before the announcement.