Announcements


Date: 25 March 2013

MULTIPLE PROPOSALS SAPURAKENCANA PETROLEUM BERHAD (FORMERLY KNOWN AS SAPURA-KENCANA PETROLEUM BERHAD) (“SKPB” OR “COMPANY”) (I) PROPOSED COMBINATION AND INTEGRATION OF THE RESPECTIVE TENDER RIG BUSINESSES OF SKPB AND SEADRILL LIMITED BY WAY OF THE ACQUISITION BY SAPURAKENCANA DRILLING PTE. LTD., A WHOLLY-OWNED SUBSIDIARY OF SKPB, OF: (A) THE ENTIRE ISSUED SHARE CAPITAL OF SEADRILL TENDER RIG LTD; AND (B) 99% OF THE ISSUED SHARE CAPITAL OF PT NORDRILL INDONESIA; (II) PROPOSED BASE PLACEMENT OF NEW ORDINARY SHARES OF RM1.00 EACH IN SKPB (“SKPB SHARES”) TO RAISE GROSS PROCEEDS OF RINGGIT MALAYSIA EQUIVALENT TO UNITED STATES DOLLAR 250.0 MILLION (“PROPOSED BASE PLACEMENT”); AND (III) PROPOSED ADDITIONAL PLACEMENT OF UP TO 300.0 MILLION NEW SKPB SHARES (“PROPOSED ADDITIONAL PLACEMENT”) (COLLECTIVELY REFERRED TO AS “PROPOSALS”)


Type Announcement
Subject MULTIPLE PROPOSALS
Description SAPURAKENCANA PETROLEUM BERHAD (FORMERLY KNOWN AS SAPURA-KENCANA PETROLEUM BERHAD) (“SKPB” OR “COMPANY”)

(I) PROPOSED COMBINATION AND INTEGRATION OF THE RESPECTIVE TENDER RIG BUSINESSES OF SKPB AND SEADRILL LIMITED BY WAY OF THE ACQUISITION BY SAPURAKENCANA DRILLING PTE. LTD., A WHOLLY-OWNED SUBSIDIARY OF SKPB, OF: 

(A) THE ENTIRE ISSUED SHARE CAPITAL OF SEADRILL TENDER RIG LTD; AND 

(B) 99% OF THE ISSUED SHARE CAPITAL OF PT NORDRILL INDONESIA; 

(II) PROPOSED BASE PLACEMENT OF NEW ORDINARY SHARES OF RM1.00 EACH IN SKPB (“SKPB SHARES”) TO RAISE GROSS PROCEEDS OF RINGGIT MALAYSIA EQUIVALENT TO UNITED STATES DOLLAR 250.0 MILLION (“PROPOSED BASE PLACEMENT”); AND

(III) PROPOSED ADDITIONAL PLACEMENT OF UP TO 300.0 MILLION NEW SKPB SHARES (“PROPOSED ADDITIONAL PLACEMENT”)

(COLLECTIVELY REFERRED TO AS “PROPOSALS”)

 

(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 8 February 2013 in relation to the Proposals.)

 

We refer to the announcements dated 8 February 2013, 13 February 2013 and 19 March 2013 in relation to the Proposals.   

 

On behalf of the Board, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad are pleased to announce that the additional listing application in relation to the Proposals have been submitted to Bursa Securities today. 

 

The issue price, timing and number of new SKPB Shares to be issued pursuant to the Proposed Base Placement and Proposed Additional Placement, if any, have not been determined at this juncture and the specific announcements will only be made by the Company in due course.

 


This announcement is dated 25 March 2013.


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