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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. 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.
PETALING JAYA: Sona Petroleum Bhd has proposed to use 40% or US$50mil (RM215.2mil) of its trust money to buy 100% equity in the Stag Oilfield off Western Australia.
PETALING JAYA: Sona Petroleum Bhd is terminating its proposed qualifying asset (QA) with regards to the acquisition of a 40% stake in UK-listed Salamander Energy plc’s Thai unit, Salamander Energy (Bualuang Holdings) Ltd (SEBG), for US$281.2mil (RM1.01bil).
PERTH: Sona Petroleum Bhd, a cash company seeking to close its first oil and gas acquisition deal, is keeping an eye for new takeover opportunities in Western Australia, where energy firm Santos Ltd is disposing some of its assets.
PETALING JAYA: Sona Petroleum Bhd has proposed a capital repayment of up to RM80mil to its shareholders in a bid to gain shareholder support for the company’s maiden acquisition.
KUALA LUMPUR: Sona Petroleum Bhd will sign a management services agreement as part of the sale and purchase agreement signed last Friday for a 40% working interest in UK-listed Salamander Energy Plc’s Thai unit, Salamander Energy (Bualuang Holdings) Ltd (SEBG) for US$281.2mil (RM895.2mil).
PETALING JAYA: Shares in special-purpose acquisition company (SPAC) Sona Petroleum Bhd rallied on speculation that it was looking at an oil and gas (O&G) asset belonging to an Australian-based vendor.
PETALING JAYA: Sona Petroleum Bhd’s initial public offering (IPO) has garnered a significant amount of interest from the private banking clients of the two main investment banks handling the listing, according to sources.
Sona Petroleum, which aims to eventually make the transition to an independent E&P company, has already secured commitments from six institutions as cornerstone investors, making it the first SPAC to do so.
KUALA LUMPUR: Sona Petroleum Bhd, which is making its second attempt at a qualifying acquisition (QA), has sweetened its proposed capital repayment that is conditional on shareholders’ approving its US$25mil (RM96.9mil) purchase of Stag Oilfield assets in western Australia.