Sona Petroleum Bhd chairman Andre Van Strijp (left) and managing director Datuk Seri Hadian Hashim sharing a light moment after the company AGM on June 24. - Ong Soon Hin/ThE Star
KUALA LUMPUR: Shareholders have raised concerns that special-purpose acquisition company (SPAC) Sona Petroleum Bhd is running out of time to acquire a qualifying asset (QA) by its deadline of July 30, 2016.
Shareholders are worried about the deadline, but management has expressed confidence that it can secure a QA, which is a necessary requirement for it to be a full-fledged listed entity by year-end. If Sona is unable to secure a QA by July next year, the money held in trust will be returned to shareholders and it will be delisted.
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