SapuraKencana Petroleum Berhad - onenew

Announcements

Date: 11 April 2013

MULTIPLE PROPOSALS SAPURAKENCANA 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) 94% OF THE ISSUED SHARE CAPITAL OF PT NORDRILL INDONESIA; AND (COLLECTIVELY REFERRED TO AS “PROPOSED TRANSACTION”) (II) PROPOSED PLACEMENT OF 587.0 MILLION NEW ORDINARY SHARES OF RM1.00 EACH IN SKPB (“SKPB SHARES”) AT AN ISSUE PRICE OF RM2.80 PER SKPB SHARE (“PROPOSED PLACEMENT”) (COLLECTIVELY REFERRED TO AS “PROPOSALS”)

Type	Announcement
Subject	MULTIPLE PROPOSALS
Description	SAPURAKENCANA 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) 94% OF THE ISSUED SHARE CAPITAL OF PT NORDRILL INDONESIA; AND (COLLECTIVELY REFERRED TO AS “PROPOSED TRANSACTION”) (II) PROPOSED PLACEMENT OF 587.0 MILLION NEW ORDINARY SHARES OF RM1.00 EACH IN SKPB (“SKPB SHARES”) AT AN ISSUE PRICE OF RM2.80 PER SKPB SHARE (“PROPOSED 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, amongst others, the Proposed Transaction.) Reference is made to the announcements dated 8 February 2013, 13 February 2013, 19 March 2013, 25 March 2013, 3 April 2013, 4 April 2013 and 5 April 2013 in relation to, amongst others, the Proposed Transaction. On behalf of the Board, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad are pleased to announce that the Foreign Exchange Administration of Bank Negara Malaysia had, vide its letter dated 11 April 2013, approved the Company’s application in relation to the Proposed Transaction. This announcement is dated 11 April 2013.