PENERGY

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ADDITIONAL INFORMATION IN RESPECT OF THE DISPOSAL OF MARINE VESSEL

PETRA ENERGY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ADDITIONAL INFORMATION IN RESPECT OF THE DISPOSAL OF MARINE VESSEL

Reference is made to the earlier announcement dated 13 January 2020 in respect of the Disposal of Marine Vessel (Reference No. GA1-13012020-00080) (“Announcement”).

 

Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Announcement.

 

The Board of Directors of Petra Energy Berhad wishes to provide the following additional information in relation to the Disposal of Marine Vessel:-

  1. The contract value of the hire of the Vessel by SCL for the 36 months period  

    There is no specific contract value for the hire of the Vessel by SCL for the 36 months (“Charter Period”) (“hiring”) as the said hiring is part of disposal arrangement of the Vessel as agreed between PMSB and SCL where SCL has agreed to pay PMSB, during the Charter Period the payment terms of up to the total disposal consideration of USD6,000,000/- as explained under items 1 and 2.4 of the Announcement. 
     
  2. The basis of arriving at the disposal consideration of USD6,000,000/- other than ‘as is where basis’ 

    The disposal consideration of USD6,000,000/- was arrived upon taking into consideration the market value as per the valuation report conducted on the Vessel in October 2019.

This announcement is dated 15 January 2020.






Announcement Info

Company Name PETRA ENERGY BERHAD
Stock Name PENERGY
Date Announced 15 Jan 2020
Category General Announcement for PLC
Reference Number GA1-15012020-00069