Posted by jack2 > 2016-03-25 16:45 | Report Abuse

once QA approved, the warrant will bring good returns

cheers

Posted by jack2 > 2016-03-25 16:48 | Report Abuse

with this piece of good news on capital repayment, watch out next week
the show will start...

cheers

Posted by Ant > 2016-03-25 17:01 | Report Abuse

the team now show they just want to get the QA approve...

Posted by jack2 > 2016-03-25 17:04 | Report Abuse

most important at the end of the day is everyone happy, sona get the QA, shareholders get to make some money

everyone happy happy EXCEPT THE NAYSAYERS...

cheers

Posted by Old90 > 2016-03-25 17:04 | Report Abuse

Good news, worth buying !

Posted by ruslimz > 2016-03-25 17:07 | Report Abuse

dekat tutup dia orang makan warrant...ada orang sudah tahu YES..YES..YES

Posted by jack2 > 2016-03-25 17:07 | Report Abuse

good news, may have good show bfore the EGM

Let us all meet at the EGM and YUM SING

CHEERS

Posted by jack2 > 2016-03-25 17:09 | Report Abuse

Very sorry for the NAYSAYERS

GOOD TRY, PLS TRY HARDER NEXT TIME AT DIFFERENT COUNTERS... REACH? RED SENA?...

MAYBE CAN USE BOMOH TO HELP... BRING OUT THE COCONUTS AND WATERMELOONS, LOL

Posted by ruslimz > 2016-03-25 17:10 | Report Abuse

yes YUM SING...mineral water.....

Posted by MG11 > 2016-03-25 17:25 | Report Abuse

The fact that they announced the cash repayment of 7sen is to
satisfy CS and PA. The yield return both funds for this year settled already.
That was a brilliant move to get their approval for the QA.

Posted by Ant > 2016-03-25 17:28 | Report Abuse

highest price for mother was 62c and son was 34c. so what price will hit after QA approve....

Posted by Alvin Hong > 2016-03-25 17:46 | Report Abuse

so u mean the price for sona wa will be 34c? wow.....great

Posted by MG11 > 2016-03-25 18:55 | Report Abuse

And I am not surprised once QA approved
the Warrant exercise price is reduced to accordingly.

Posted by sonapetroleum > 2016-03-25 19:06 | Report Abuse

Dear all, we would like to share our statement on the proposed capital repayment exercise as below. Do let us know if you have any questions:

SONA ANNOUNCES RM80 MILLION CAPITAL REPAYMENT

Kuala Lumpur, 25 March 2016 - Sona Petroleum Berhad (“Sona”) today announced a planned capital repayment exercise of up to RM80 million to shareholders, subject to among others, the completion of its planned qualifying acquisition (“QA”) of the Stag Oilfield as announced earlier.
Shareholders entitled to the capital repayment will be determined after completion of the QA and will exclude Sona’s management team and shareholders who participate in the Share Repurchase and vote against the QA at Sona’s forthcoming EGM, which will take place on 30 March 2016.

Up to RM80 million, less any payment for the Share Repurchase made to the dissenting shareholders who vote against the QA, will be distributed. Actual distribution amount may vary depending on the number of dissenting shareholders and the amount that Sona has to pay these shareholders under the Share Repurchase.

In the event there is no dissenting shareholder, the illustrative distribution amount per share is about 7.1 sen. The capital repayment exercise will not be carried out in the event that the amount payable under the Share Repurchase to the dissenting shareholders exceeds RM60 million.

“We see this exercise as a demonstration of our confidence in the strong business case of our QA, and as a way of giving back to long-term shareholders that have shown their confidence in Sona after the completion of our QA,” said Dato’ Sri Hadian bin Hashim, Managing Director of Sona. “The management of Sona has proactively and transparently communicated the business case of our intended acquisition (of Stag Oilfield) and has willingly addressed concerns from media, analysts and shareholders while balancing regulatory requirements on disclosure. We have chosen to acquire Stag Oilfield as it is earnings accretive with decent potential upside . We have full faith that shareholders seeking greater value, and the chance to own equity in an upstream oil and gas listed entity, will approve the intended acquisition during our EGM.”

The cash distribution of the capital repayment exercise will come from Sona’s trust account after taking into consideration Sona’s working capital requirements and the 80% utilisation of the cash trust account for the purposes of the QA (as set out in the Circular).

Posted by jack2 > 2016-03-25 19:38 | Report Abuse

Good strategy Sona, I always have faith in you

Would you allow those naysayers that submitted Repurchase or Against Forms to withdraw? Probably some of them may want to esp with the 7cts refund

Posted by jack2 > 2016-03-25 20:00 | Report Abuse

my friendly advise to all naive investors in oil & gas sector

SKP just reported loss of over a billion which is not unexpected, same with other oil n gas in support services eg OSV, FSPO, Rig...

all these oil n gas have debts in hundred of millions and some in billions, and their business are bad if oil price below usd55-60

Sona has no debts and when oil price around 55-60, we all can laugh all the way to the banks, while those support services barely surviving

recommendations is sell all oil n gas counters and sailang into Sona

cheers

see you guys at EGM and Yum Sing

Posted by Alvin Hong > 2016-03-25 20:36 | Report Abuse

what will be the price for sona wa

Posted by Ant > 2016-03-25 20:49 | Report Abuse

if i m not wrong, is 35c to ex one monther, so u count on your own loh....

Posted by Ant > 2016-03-25 20:51 | Report Abuse

but QA must go through first, if not still u burn the son....

Posted by Alvin Hong > 2016-03-25 20:56 | Report Abuse

sure will get through

Posted by jack2 > 2016-03-25 21:06 | Report Abuse

yeah, with capital repayment 99.9% certain the QA will go through

Posted by sheep > 2016-03-25 21:14 | Report Abuse

if those who buy sona next week, are they entitled to vote?

Posted by jack2 > 2016-03-25 21:16 | Report Abuse

nope, you can sit outside the EGM room

but you can ride on the upside and get capital repayment once QA approved

Posted by YC_Ma > 2016-03-25 21:25 | Report Abuse

Listen listen liste hand on belt bullet Train want star liao000000.... hihihi

Posted by stockraider > 2016-03-25 21:47 | Report Abuse

DETAILS OF THE PROPOSED CAPITAL REPAYMENT
The Proposed Capital Repayment will involve a capital repayment of up to RM80.0 million, less such amounts to be paid for the repurchase of Sona Petroleum Shares from the dissenting shareholders who vote against the Proposed Acquisition (“Share Repurchase”) (“Distribution Amount”). Accordingly, the actual Distribution Amount will vary in accordance with the number dissenting shareholders and the amount that the Company has to pay under the Share Repurchase.
The Distribution Amount will be made from the remaining monies in the Company’s cash trust account, after taking into consideration the Company’s working capital requirements and the 80% utilisation of the cash trust account for the purposes of the Proposed Acquisition (as set out in the Circular).
The Proposed Capital Repayment shall be subject to the total payment for the Share Repurchase not exceeding RM60.0 million. For the avoidance of doubt, in the event the total payment for Share Repurchase exceeds RM60.0 million, the Proposed Capital Repayment will not be implemented.

Posted by ivan9511 > 2016-03-25 21:51 | Report Abuse

Hi guys . I heard sona going capital repayment ?
Can I know capital repayment is a good news or bad news .
And will it effect par value or shares quantity ?
Please help . I newbie

Posted by stockraider > 2016-03-25 21:54 | Report Abuse

Raider say read carefully loh....!!
If repayment to dissenting shareholder exceed Rm 60 million...nothing payable to the supporting Sona shareholder, even the QA is successful mah....!!

Question
Why should repayment to supporting Sona QA shareholder subject to rhe outcome of dissenting shareholder cash purchase ?

Would it not cash payment...is an appreciation of management for the kind support of Sona shareholder...resulting in successful QA ?

If that is the case....then why the outcome of cash payment to supporting shareholder be uncertain...even there is a successful outcome leh ??

Posted by Tommy Tong > 2016-03-25 22:11 | Report Abuse

Dear all, NTA after completion of QA will be 0.38. Thats why management try to convince shareholder by return 7 sen of capital. For warrant holder, please think twice before too late to release your share. Exercise price is 0.35, if mother share adjusted to NTA value 0.38, how do you think at existing warrant price, is overvalue not undervalue. Beware all

Posted by sheep > 2016-03-25 22:25 | Report Abuse

Dong dong reasoning. Warrants expiring in Jul 29, 2018. By then oil price will be up up . Sona price up up. Warrant price much higher then. Now can buy small small - limited low risk, 10 times profit. Somebody trying to collect warrants...wakakaka

Posted by stockraider > 2016-03-25 22:36 | Report Abuse

If QA not successful...Warrant expire by august 2016 mah...!!

Sona-w highly toxic loh....!!

Only if QA...successful....warrant expire 29-7-2018 loh...!!

Posted by MG11 > 2016-03-25 23:05 | Report Abuse

Those warrant holders know the risk.
High risk, high return.
Dont be a smart aleck and insult their intelligence....

Posted by stockraider > 2016-03-25 23:35 | Report Abuse

High Risk...No Return...!!
This is the most fear issue loh....!!

If u do not have Sona-w today, better don touch loh...!!

Posted by sheep > 2016-03-25 23:39 | Report Abuse

If go down to 0.005 like Hubline WA before 31 March... Sapu semua...wakakaka

Posted by jack2 > 2016-03-26 07:16 | Report Abuse

WITH THE CAPITAL REPAYMENT, NOW ALL THE MAJOR SHAREHOLDERS ARE SUPPORTING THE QA

THE WARRANT HOLDERS WILL HAVE GOOD RETURN ONCE QA APPROVED

CHEERS AND SEE YOU GUYS AT THE EGM

Posted by jack2 > 2016-03-26 08:17 | Report Abuse

Very sorry for the NAYSAYERS

GOOD TRY, PLS TRY HARDER NEXT TIME AT DIFFERENT COUNTERS... REACH? RED SENA?...

MAYBE CAN USE BOMOH TO HELP... BRING OUT THE COCONUTS AND WATERMELOONS, LOL

Posted by stockraider > 2016-03-26 10:12 |

Post removed.Why?

Posted by akhan1717 > 2016-03-26 11:20 | Report Abuse

stockraider...yr comments r not worth a cents i suppose.Any investor will see this as a very good deal and there has nvr been a better deal like this b4...ony fools will say no to it..and look at the potential of the co in future too..a clean balance sheet with no debts and posible supar upside...a YES vote is a MUST..hope all shareholders will nvr let this onnce in a lifetime opportunity slip by..A YESSSSS VOTE INDEED...

Posted by stockraider > 2016-03-26 12:20 |

Post removed.Why?

Posted by Old90 > 2016-03-26 12:59 | Report Abuse

Just another 3-4 days, and will know the answer. Whether successful anot, normally big shareholder to decide(Corporations/Institutions/Individual) and I do believe those who bought Sona shares(Public small holders) will likely vote YES, as this is really a great deal, future gain is bright for crude oil. Public will normally follow the footstep of Big shareholders in voting. I believe non big holders is in forum here. So, those who said No for QA is likely "they are not holding any Sona Shares and just feel free to give a NO with their own sort of reason". To those truly holding Sona shares, let us vote YES together.

Posted by jack2 > 2016-03-26 12:59 | Report Abuse

ASTRO RE-RUN

Very sorry for the NAYSAYERS WHO MADE COMMENTS WITHOUT HOLDING ANY SONA STOCK. LOL

THERE IS NO NEED TO INSULT THE INTELLIGENCE OF STOCKHOLDERS WHO SUPPORT THE QA

GOOD TRY, PLS TRY HARDER NEXT TIME AT DIFFERENT COUNTERS... REACH? RED SENA?... PROBABLY YOU WILL BE SUCCESSFUL AT REACH, I AM QUITE CERTAIN ABOUT THAT...

LOL

Posted by jack2 > 2016-03-26 13:02 | Report Abuse

OLDMAN, LETS MEET AND YUM SING AT THE EGM WED AT SHANGLI LA

Let celebrate the QA and everyone will make some good returns thereafter

Posted by Old90 > 2016-03-26 13:03 | Report Abuse

Good said, jack2. Really no idea, why they always NO as I believe those who said NO, is actually holding non of Sona shares.

Posted by jack2 > 2016-03-26 13:08 | Report Abuse

WITH THE CAPITAL REPAYMENT, all the major shareholders whether yield or investors are now supporting the QA

Please ignore the naysayers who hold non of Sona shares, LOL

Posted by Kareemabduljabbar > 2016-03-26 15:43 | Report Abuse

Wish for a successful EGM on Wed.

Posted by Alvin Hong > 2016-03-26 16:23 | Report Abuse

Buy buy buy

Posted by CLIQmanagement > 2016-03-26 17:58 | Report Abuse

now only talk about capital repayment.. they should do it long time ago. Is too late now.
I spoke about this before.

Posted by YC_Ma > 2016-03-26 18:43 | Report Abuse

Wait and see 30Mach what is happens wakakaka huat ar

Posted by cruise > 2016-03-26 21:44 | Report Abuse

those retailers that submitted the forms earlier, now bang balls

hehehe happy EGM

Posted by jack2 > 2016-03-27 09:17 | Report Abuse

morning guys

looking forward to EGM this wed

lets celebrate and yum sing on Hadi

cheers

Posted by Yunus > 2016-03-27 11:05 | Report Abuse

Agree jack2....like your optimism and positivity :-)