LINC IN DARK OVER MYSTERIOUS PRICE DROP

Written on the 25 June 2013

LINC IN DARK OVER MYSTERIOUS PRICE DROP

LINC Energy (ASX:LNC) has been asked to explain the 19 per cent drop in market value it experienced yesterday.

The gas explorer opened the Monday with a share price of $1.150 per unit, but closed at $0.940, with a high trade volume.

The ASX compliance office asked in writing if the company was aware of any reason for the sharp fall in value which had not been announced to the market.

LNC this morning responded to the inquiry saying it is not aware of any explanation for the price change and that it is in compliance with listing rules.

LNC shares made a comeback this morning, up 5.85 per cent to $0.995 per unit in early trade.

 

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