Announcements


Date: 09 January 2019

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 announcement dated 9 November 2018 in relation to the Proposed Transaction)

 

We refer to the Company's announcements dated 9 November 2018, 5 December 2018 and 24 December 2018 in relation to the Proposed Transaction.

 

On behalf of the Board, the Joint Principal Advisers wish to announce that, in conjunction with the Proposed Transaction, SUP and/or its subsidiaries (collectively, "SUP Group") intends to obtain financing facilities from local and/or foreign financial institution(s) and/or OMV E&P or another entity within OMV AG group for an aggregate amount of up to USD550 million (or equivalent to approximately RM2,288 million) but not less than USD350 million (or equivalent to approximately RM1,456 million) ("Financing Facilities"). The SEB Group may also be required to provide corporate guarantees, undertakings and/or securities for 50% of the Financing Facilities to be obtained by the SUP Group ("Proposed Financial Assistance").

 

Accordingly, the Company is proposing to seek the approval of the Company's shareholders for the Proposed Financial Assistance.

 

Details of the Proposed Financial Assistance are set out in the attached file.

 

This Announcement is dated 9 January 2019.


 


ATTACHMENT

- attachment_5218_190109193541_6569.pdf

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