SAPNRG

0.045

(%)

OTHERS SAPURA ENERGY BERHAD ("SEB" OR "THE COMPANY") MEDIATION OF DEBT RESTRUCTURING OF SEB AND ITS ADMITTED GROUP COMPANIES UNDER CORPORATE DEBT RESTRUCTURING COMMITTEE - EXTENSION OF THE STANDSTILL PERIOD

SAPURA ENERGY BERHAD

Type Announcement
Subject OTHERS
Description
SAPURA ENERGY BERHAD ("SEB" OR "THE COMPANY")
MEDIATION OF DEBT RESTRUCTURING OF SEB AND ITS ADMITTED GROUP COMPANIES UNDER CORPORATE DEBT RESTRUCTURING COMMITTEE - EXTENSION OF THE STANDSTILL PERIOD

We refer to our announcement dated 5 September 2022 in relation to the Company's application for assistance to mediate by Corporate Debt Restructuring Committee ("CDRC") of Bank Negara Malaysia and our announcements dated 31 May 2022, 1 July 2022, 1 August 2022, 1 September 2022, 3 October 2022, 1 November 2022, 1 December 2022, 3 January 2023, 2 February 2023, 1 March 2023, 30 March 2023, 3 April 2023, 2 May 2023, 19 May 2023, 1 June 2023, 13 June 2023, 3 July 2023, 1 August 2023 and 1 September 2023 (“Announcements”) in relation to the Company being classified as an affected listed issuer and the disclosure requirements under Paragraph 4.1(c) of PN17. 

 

The Board of Directors of the Company wishes to provide a status update that Company had on 6 September 2023 received a formal notification dated 5 September 2023 from the CDRC stating that the CDRC has decided to extend the standstill period for the Company and its relevant subsidiaries, which are listed in Appendix 1 (“Admitted Group Companies”) as attached herein under the CDRC regime, up to 10 March 2024. This is after considering the current state of progress of the Company's proposed restructuring scheme and the recent extension of the Convening and Restraining Orders granted under Section 366 and 368 of the Companies Act 2016 by the Kuala Lumpur High Court on 6 June 2023. 

 

In line with Bank Negara Malaysia’s CDRC Participants Code of Conduct, the MCF Financiers are to continue to observe the informal standstill and withhold all legal proceedings, and/or any other recovery action initiated or intended against SEB and/or the Admitted Group Companies as listed in Appendix 1.

 

Further announcements will be made as and when appropriate.

 

This announcement is dated 7 September 2023. 

 




Please refer attachment below.

Attachments

SEB-Appendix 1.pdf
6.4 kB



Announcement Info

Company Name SAPURA ENERGY BERHAD
Stock Name SAPNRG
Date Announced 07 Sep 2023
Category General Announcement for PLC
Reference Number GA1-06092023-00030