05/10/2007 - 14:58

LinQ renews unit buy-back following Carrousel pressure

05/10/2007 - 14:58

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West Perth-based LinQ Capital Ltd, which is under pressure from UK shareholder Carrousel Capital to improve its share price, will renew its unit buy-back from October 19.

LinQ renews unit buy-back following Carrousel pressure

West Perth-based LinQ Capital Ltd, which is under pressure from UK shareholder Carrousel Capital to improve its share price, will renew its unit buy-back from October 19.

The buy-back is one measure adopted by LinQ to boost its market price, but Carrousel is agitating for more to be done to narrow the gap between the company's share price and the value of net tangible assets held by the fund.

 

 

The full text of a LinQ announcement is pasted below

As previously announced to the market the Board of directors of LinQ Capital Limited, responsible entity ('RE') for the LinQ Resources Fund ('LRF') indicated the continuance of the Fund's unit buy-back authority to enhance NTA per unit for all unitholders.

To this end the current successful buy-back program is to be renewed and the RE intends to buy back on behalf of the Fund up to 22,860,908 units over the next 12 months, with effect from Friday 19th October 2007.

An Appendix 3C "Announcement of buy-back" notifying the ASX of the new buyback will follow this announcement.

The Appendix 3F "Final Notice" in respect of the current buyback will be lodged on Friday 19th October 2007.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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