SapuraKencana Petroleum Berhad - onenew

Announcements

Date: 18 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 (“SEADRILL”) 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 (“SEADRILL”) 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, 5 April 2013 and 11 April 2013 in relation to, amongst others, the Proposed Transaction. The Company wishes to announce that SapuraKencana Drilling Pte Ltd, a wholly-owned subsidiary of the Company incorporated in Labuan, has today entered into a facility agreement with Standard Chartered Bank as the coordinating bank, Maybank Investment Bank Berhad (“Maybank IB”) as the agent and security agent and ABN AMRO Bank N.V., Singapore Branch, AmInvestment Bank Berhad, BNP Paribas, CIMB Bank Berhad, The Hongkong and Shanghai Banking Corporation Limited, Maybank IB and Malayan Banking Berhad, RHB Bank Berhad, Standard Chartered Bank and United Overseas Bank (Malaysia) Bhd as the lenders for the USD1,850,000,000 short term facility in relation to the Proposed Transaction. This announcement is dated 18 April 2013.