Announcements


Date: 24 December 2018

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SAPURA ENERGY BERHAD ("SEB" OR "COMPANY") PROPOSED STRATEGIC PARTNERSHIP BETWEEN SEB AND OMV AKTIENGESELLSCHAFT THROUGH SEB UPSTREAM SDN BHD ("SUP"), A JOINT VENTURE COMPANY INCORPORATED TO HOLD THE ENTIRE EQUITY INTEREST OF SAPURA UPSTREAM SDN BHD (FORMERLY KNOWN AS SAPURA EXPLORATION AND PRODUCTION SDN BHD) ("SUSB") RESULTING IN A TOTAL CASH PROCEEDS OF UP TO USD975 MILLION (OR EQUIVALENT TO APPROXIMATELY RM4,056 MILLION), SUBJECT TO ADJUSTMENTS ("PROPOSED TRANSACTION")


Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description SAPURA ENERGY BERHAD ("SEB" OR "COMPANY")

PROPOSED STRATEGIC PARTNERSHIP BETWEEN SEB AND OMV AKTIENGESELLSCHAFT THROUGH SEB UPSTREAM SDN BHD ("SUP"), A JOINT VENTURE COMPANY INCORPORATED TO HOLD THE ENTIRE EQUITY INTEREST OF SAPURA UPSTREAM SDN BHD (FORMERLY KNOWN AS SAPURA EXPLORATION AND PRODUCTION SDN BHD) ("SUSB") RESULTING IN A TOTAL CASH PROCEEDS OF UP TO USD975 MILLION (OR EQUIVALENT TO APPROXIMATELY RM4,056 MILLION), SUBJECT TO ADJUSTMENTS ("PROPOSED TRANSACTION")

(Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the Company's announcements dated 9 November 2018 and 5 December 2018 in relation to the Proposed Transaction)

 

We refer to the Company's announcements dated 9 November 2018 and 5 December 2018 in relation to the Proposed Transaction.

 

On behalf of the Board, Maybank IB, CIMB Investment Bank Berhad ("CIMB IB") and RHB Investment Bank Berhad ("RHB IB") (collectively referred to as "Joint Principal Advisers") wish to announce that OMV E&P has served the satisfaction notice on SEB ("OMV Satisfaction Notice") and SEB has served the satisfaction notice on OMV E&P ("SEB Satisfaction Notice") in accordance with the Subscription Agreement.

 

The OMV Satisfaction Notice and SEB Satisfaction Notice set out that OMV E&P and SEB, respectively, consider that the implementation of the arrangements contemplated by the Subscription Agreement (to the extent they relate to the right, title, right to use and interest in and to the properties by each SUSB Group member following the date of the Subscription Agreement) is progressing satisfactorily.

 

The Company has appointed CIMB IB and RHB IB, together with Maybank IB, as Joint Principal Advisers to the Company for the Proposed Transaction.

 

This Announcement is dated 24 December 2018.




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