The management, led by Datuk Seri Hadian Hashim (caricature), said that Sona was set to tutup kedai (close shop) and was in the midst of appointing a liquidator.(Sona had earlier sought to buy a 100% interest (plus operatorship) in the Stag Oilfield, an offshore Western Australia oilfield which was already producing oil at the rate of 4,600 barrels per day as of June 2015, for US$25mil (RM104mil). Inset filepic)
PETALING JAYA: Sona Petroleum Bhd became the first special-purpose acquisition company (SPAC) to announce a definite date to distribute cash back to its shareholders after having failed to get a qualifying asset.
In an announcement yesterday, Sona said the company would wind up following a High Court order, and that the appointed liquidators had proposed to distribute the first tranche of payment involving 97% of the monies held in the cash trust account to eligible shareholders by November 2016.
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