SAPNRG

0.045

(%)

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

SAPURA ENERGY BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
MONTHLY ANNOUNCEMENT
Description
SAPURA ENERGY BERHAD ("SEB" OR "THE COMPANY")
MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN17") OF MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS")

We refer to our announcements dated 31 May 2022 (“the First Announcement”), 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, 1 September 2023, 7 September 2023, 2 October 2023, 1 November 2023 and 1 December 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. Unless otherwise stated, all abbreviations and terms used in this announcement shall have the same meanings as those defined in the Announcements.

 

The Board of Directors of the Company (“Board”) wishes to provide a status update on the Company’s efforts to address its PN17 status. Since the First Announcement, the Company has been advancing its plan to regularise the financial position of its group of companies.

 

As announced on 13 December 2023, the Company and the MCF Financiers had, on 12 December 2023, received a written confirmation dated 12 December 2023 from the Corporate Debt Restructuring Committee (“CDRC”) stating that, in accordance with section 8.10 of the CDRC Participants’ Code of Conduct, at least seventy-five percent (75%) of the MCF Financiers have provided their requisite approval-in-principle of the debt restructuring scheme proposed by the Company.

 

Additionally, as announced on 14 December 2023, Bursa Securities had, through its letter dated 13 December 2023, granted the Company a further extension of time of 6 months up to 31 May 2024 to submit its Regularisation Plan (“Plan”) to the relevant regulatory authorities.

 

The Company, together with its advisors, will continue to actively develop the Plan to ensure that it is sufficiently robust to address its business and financial conditions.

 

The Company will make the necessary announcement(s) should there be any further material development on the above matter.

 

This announcement is dated 2 January 2024.






Announcement Info

Company Name SAPURA ENERGY BERHAD
Stock Name SAPNRG
Date Announced 02 Jan 2024
Category General Announcement for PLC
Reference Number GA1-02012024-00044