OTHERS BARAKAH OFFSHORE PETROLEUM BERHAD ("BARAKAH" OR THE "COMPANY") - DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS") ("DEFAULT IN PAYMENT")
| BARAKAH OFFSHORE PETROLEUM BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | BARAKAH OFFSHORE PETROLEUM BERHAD ("BARAKAH" OR THE "COMPANY")
- DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS") ("DEFAULT IN PAYMENT") |
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Reference is made to the announcements made by the Company on 21 May 2019, 1 July 2019 and 1 August 2019 (collectively “Announcements”) in relation to the default in payment pursuant to Paragraph 9.19A of the Listing Requirements. Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the Announcements.
The Company wishes to inform that on 22 August 2019, its wholly-owned subsidiary, KL101 had received a Second (2nd) notice of demand dated 15 August 2019 from EXIM Bank. An amount of USD3,859,201.39 has been stated in the demand for the outstanding instalment payments as at 2 August 2019.
The Company is still in the midst of formulating a plan to regularise its financial conditions that will include proposals to address this default.
This announcement is dated 23 August 2019. |
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Announcement Info
| Company Name | BARAKAH OFFSHORE PETROLEUM BERHAD |
| Stock Name | BARAKAH |
| Date Announced | 23 Aug 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23082019-00065 |