Linc Energy Limited
(ASX:LNC) says it hasn’t entered into any arrangements to sell its coal tenements and that it’s got no explanation for its share price jump on Friday.
Shares soared up 25 per cent on Friday, prompting a speeding ticket from the ASX.
In response, the company says although it’s pursuing a number of divestment opportunities it hasn’t entered into any binding arrangements.
The company also says it’s recently announced a restructuring of its business operations into three divisions: coal, clean energy and oil and gas, and that it is engaged in discussions with a potential cornerstone investor with which it may pursue opportunities in China.
Linc Energy recorded a net profit of $296.4 million for the year to June 2011.
