Announcements


Date: 30 May 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 (II) 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 (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

(II) 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 

(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 circular dated 8 April 2013 to the shareholders of SKPB.)

We refer to the previous announcements in relation to the Proposals.   

On behalf of the Board, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad wish to announce the completion of the Proposed Transaction following the completion of the acquisition of the PTNI Shares by the Purchaser today.

This announcement is dated 30 May 2013.


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