SAPNRG - Notice of Rights Entitlement

SAPURA ENERGY BERHAD

Renounceable rights issue of 2,396,862,035 new Islamic redeemable convertible preference shares in Sapura Energy Berhad ("SEB") ("RCPS-i") at an issue price of RM0.41 per RCPS-i on the basis of two (2) RCPS-i for every five (5) ordinary shares in SEB held at 5:00 p.m. on 31 December 2018 ("Rights Issue of RCPS-i")

 

Kindly be advised of the following :

1)    The Right commence of trading : 2 Jan 2019
2)    The Date of Despatch of the Prospectus and Provisional Allotment Letter of Offer : 3 Jan 2019
3)    The last day and time for Acceptance, Renunciation and Payment : 16 Jan 2019
4)    The Rights cessation quotation : 9 Jan 2019

 

The Stock Short Name, Number and ISIN Code SAPNRG-PR, 5218PR and MYL5218PR002

 

Remarks: There are no existing RCPS-i which are listed and quoted.

The RCPS-i shall rank equally amongst themselves, and will rank ahead in point of priority to the holders of the SEB Shares and all other classes of shares (if any) in the Company, in respect of payment out of the assets of the Company upon any liquidation, dissolution or winding-up of the Company, provided always that the Board of Directors of SEB approves such payment of dividends and payment out of the assets of the Company on this basis and further affirms the priority of payment to the holders of the RCPS-i. 

 

The RCPS-i shall rank subordinated to all the Companys creditors in respect of payment of debt and payments out of assets of the Company upon liquidation, dissolution, or winding-up of the Company.

 

The abridged prospectus together with the notice of provisional allotment and the rights subscription form for the Rights Issue of RCPS-i (collectively, the "Documents") will only be despatched to the shareholders of SEB who have a registered address in Malaysia and whose names appear in the Record of Depositors of SEB at 5.00 p.m. on 31 December 2018 ("Entitled Shareholders") (excluding any person who is authorised to act as a nominee as defined under the Rules of Bursa Malaysia Depository Sdn Bhd who has subscribed for Nominee Rights Subscription services offered by Bursa Malaysia Securities Berhad, at the request of SEB). Entitled Shareholders who do not have a registered address in Malaysia and wish to provide their Malaysian address, should inform their respective stockbrokers or Symphony Share Registrars Sdn Bhd, being the Registrar for the Rights Issue of RCPS-i, to effect the change of address by 31 December 2018. The Documents are not intended to be (and will not be) issued, circulated or distributed in any country or jurisdiction other than Malaysia and no action has been or will be taken to ensure that either the Rights Issue of RCPS-i or the Documents comply with the laws related to public offerings of any country or jurisdiction where action for such purpose is required, other than the laws of Malaysia. Distribution of this Announcement into jurisdictions other than Malaysia may be restricted by law. Persons who come into possession of this Announcement should inform themselves of and observe any such restrictions. This Announcement is for information purposes only and shall not constitute an offer to sell or solicitation of an offer to buy any securities, nor shall there be any offer or sale of securities in any jurisdiction in which such offer or sale would be unlawful. The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act") or the laws of any state or other jurisdiction of the United States ("U.S.") and may not be offered, sold, resold, pledged, transferred or delivered, directly or indirectly, within the U.S., except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The securities referred to herein are only being offered and sold outside the U.S. in offshore transactions in reliance on Regulation S under the U.S. Securities Act. Non-resident shareholders are to note the conditions imposed by Bank Negara Malaysia which, among others, require non-resident shareholders who intend to undertake foreign currency hedging to only enter into foreign currency hedging contracts with licensed domestic banks (i.e. commercial banks, licensed investment banks or Islamic banks other than international Islamic banks). The amended announcement is due to the amendment to the title/description of the announcement.