PETALING JAYA: Shareholders have given Propel Global Bhd
the green light to proceed with all the resolutions tabled at its EGM, including the disposal of its remaining 70% equity interest in Propel Maxflo for RM17.24mil.
“Our 49%-owned subsidiary Propel Oilfield Services Sdn Bhd will dispose of its stake in Propel Maxflo to Reservoir Link Sdn Bhd for a combination of RM13.79mil cash and 18.69 million new shares in Reservoir Link Energy at an issue price of 18.45 sen per share,” said the group in a statement.
