SAPNRG (5218): Company Shares Transactions

Wow it’s a week already. I have to salute this emotional damage uncle. Although nothing to be proud of, this is what a normal person will do, even newbie can do better than this. But still it’s an achievement for this emo uncle 😂😂😂 now you finally qualify to look at market.

2 weeks ago

HaiLiDeYu

TalkNumberOne maybe it's time for you to call a bet with the uncle? who win stays and the other one gone forever....
I remembered it was so noisy and happening here last year (?) when someone bet that sapura will hit 0.07....

2 weeks ago

thetruthstory

anyone can share the egm matters in nov?

2 weeks ago

That guy went missing lo. He didn’t realise he is exactly like the emotional damage uncle on the other end. One call 0.01 one call 0.07 what’s the difference both also equally lost

2 weeks ago

I have a good solution for both of you....one of you will talk until the cow comes home and the other one will talk until like there is no tomorrow....We in the middle will watch the Wayang Kulit and see which one is the Best....

2 weeks ago

lol 😂 I only talk until cow comes home when emotional damage uncle talk no tomorrow. Now that he is quiet hiding already. Too boring to come here

2 weeks ago

HELLOOOOO....
THE SHOW MUST GO ON.....

2 weeks ago

intansri

After receiving approval from AGM if PNB agrees, we hope a positive outcome for the shareholders

2 weeks ago

Haha 😂😂😂 sounds like a done deal. PNB also on the board yo. Only question is the script is ready to execute? This is the first step?

2 weeks ago

While PN 17 Capital A is cruising across the skies, PN 17 Sapura Energy Bhd says it has been “advancing its plan” to regularize its financial position since being classified as a Practice Note 17 company and given time extension to come up with the plan.

The financially troubled company has been given a six-month extension, up to Nov 30, 2024, from Bursa Malaysia to submit its regularisation plan. It said its status update is part of the listing requirements of the Main Market of Bursa Malaysia.

For its first quarter ended April 30, 2024, Sapura Energy’s net profit dropped to RM82.13mil from RM146.09mil in the previous corresponding period, while revenue rose to RM1.18bil from RM951.73mil a year earlier

So, Sapura Energy Berhad (SAPNRG) is holding an Extraordinary General Meeting (EGM) on November 14, 2024. The main agenda is to consider and approve the proposed disposal by Sapura Upstream Assets Sdn Bhd (SUA), a wholly-owned subsidiary of SEB, of its entire 50% equity interest in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS. The total disposal consideration is USD 705.3 million (approximately RM 3,022.3 million), which includes a cash consideration of USD 530.3 million and the release of ordinary shares in SapuraOMV pledged by SUA to OMV Exploration & Production GmbH.

The proposed sale of SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS is a significant step in Sapura Energy Berhad's (SAPNRG) financial regularisation plan. This sale, valued at approximately RM 3,022.3 million, will provide much-needed liquidity to the company, helping it address its financial challenges and improve its balance sheet.

By securing this substantial cash inflow, SAPNRG can better position itself to meet its financial obligations and continue its operations more sustainably. This move is crucial for the company's efforts to regularize its financial position and comply with Bursa Malaysia's requirements for Practice Note 17 (PN17) companies.

To Our Success!

Meow

1 week ago

TwilightWanderer

Meanwhile, while PN 17 Capital A is soaring, PN 17 Sapura Energy is working on its plan to regularize its finances. They’ve got until Nov 30, 2024, to submit their regularization plan after being given a six-month extension.

1 week ago

@ TwilightWanderer....who got until Nov 30 2024 to submit their regularization plan...

1 week ago

SinGor

After 14 Nov EGM, I heard from whisper that SAP will ask Bursa for permission to Exit PN17----details on
how to settle 10bil Loan will be released by " PNB "---Why? bcos all Debts actually belong PNB ---
If you look at how ridiculous AA (Tony) Can SELL 10bil Debt to AAX, you know what will happen-----Malaysia Boleh

1 week ago

Singor nice hearing from you again. Hope for the best

1 week ago

nisah395

Is it possible to exit PN17?

1 week ago

I am worried. Emotional damage uncle gone missing. 😂😂😂😂 I hope he didn’t sell underwear sailang into sapnrg. Wouldn’t want to be in the same boy with someone worst than newbie

1 week ago

Nikmon

After sale of SAPOWV by Q125, money received must pay to creditor base on PRS, so PRS need approval creditor, before Court convent, it needs shareholder approval on the PRS, before that it needs Busar approval the plan which contain the PRS....busy busy month ahead

1 week ago

SinGor

Bankers get the bulk of the Sales proceed ( bcos this the agreement with CORPORATE DEBT RESTRUCTURING COMMITTEE ) Local small creditors ( suppliers and contractors get "Nothing yet " ) Gov has received a request
to extend one billion loan in budget 2025 to pay small Boys

6 days ago

Nikmon

Other creditor particular non local suppliers may may raise this to court if local suppliers received payment out from the PRS scheme

5 days ago

Gentlemen, let’s wait for the story to unveil it self over the next few weeks

5 days ago

Another week start without emotional damage uncle. Is this a good sign or a bad sign? 😂😂😂 answer is no sign, worst than newbie uncle wont be able to give much info except noise

4 days ago

Do not worry, when the time comes they will know what to do. Plenty of time to see their Mission Impossible. Sapura has until March 2025. Just sit tight and collect your MONEY when February or March comes.....

4 days ago

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=152622&name=EA_GA_ATTACHMENTS

3 days ago

lai Liao lai Liao, big or small going to open soon

3 days ago

Nikmon

MCF is pushing the deal as soon as possible, they will enforce collect the 3 billion if the PRS fail to get approval within the agreed time frame....

3 days ago

KUALA LUMPUR (Nov 12): Sapura Energy Bhd (KL:SAPNRG) said on Tuesday it has accepted the terms and conditions set forth by its multi-currency financing (MCF) creditors for the proposed disposal of its 50% stake in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS for US$705.3 million (RM3.37 billion).

Among the conditions is that net proceeds from the disposal will be held in a segregated account held by Sapura Energy’s wholly owned subsidiary Sapura Upstream Assets Sdn Bhd (SUA) at either Malayan Banking Bhd (KL:MAYBANK) or Maybank Islamic Bank Bhd, according to Sapura Energy’s bourse filing on Tuesday.

SUA will then create a first ranking fixed charge or priority claim over the net sale proceeds and the segregated account in favour of Maybank Investment Bank as the security agent for the MCF creditors. The charge will remain in place until the restructuring process is finalised, with the funds designated to pay down Sapura Energy’s debt as part of its ongoing debt restructuring plan.

The group had filed applications to the High Court to seek validation of the disposal and the creation of the security arrangements.

On Nov 4, the court granted Sapura Energy the necessary approvals and ruled that the creation of the security arrangement was valid and beneficial to its overall creditors, even though it can be considered a preference for the MCF financiers. The court also confirmed that the proposed disposal did not require court approval to proceed.

The company also affirmed that the net sale proceeds from the proposed disposal would be used solely for reducing Sapura Energy’s liabilities, even if the planned debt restructuring scheme is not approved or sanctioned by the court.

Back in April, Sapura Energy said SUA had entered into a conditional sale and purchase agreement to divest its 50% equity interest in SapuraOMV to TotalEnergies for US$530.3 million (RM2.53 billion) cash and US$175 million relief on debt obligations.

The proposed divestment would result in a net gain on disposal of about RM793 million upon completion, Sapura Energy said then.

Sapura Energy bought SapuraOMV for US$898 million back in 2014 from Newfield Exploration Co, before selling half its stake to OMV AG in 2018 for up to US$975 million.

2 days ago

Today is a big day for Sapnrg where we have to approve the sales of our National Asset which is worth RM 110 Billion..

1 day ago

Good morning Mabel. Where is uncle emotional damage? He followed you some where else and don’t know his way back? 😂😂😂

1 day ago

SinGor

There nothing "said" SAP will pay off 10bil Loan Except to Deposit total proceed in MayBank----So in SAP
books, 3.37Billion SapOmv money is recorded as Cash ( plus current cash balance--SAP have about 4.5Bil )
Plus other Asset fair Value---SAP should have 6.6--7.0Bil Asset Vs 10bil Loan----Can Call Bursa to consider
Exit Pn17 ( 17bil losses --- are mostly from impairment losses during Covid )
Anybody inject 1.0 bil Cash will be very helpful to exit Pn17

1 day ago

Singor, today egm done already?

1 day ago

This is Mabel's understanding from today's AGM...

Today Mabel has voted with 99.97% Voted for this remaining 50% stake of OMV while the remaining are against it. This Disposal will not part of this deregulation, however it will be used to pair down our debt.

FYI, Sapura Energy Bhd (Sapnrg) initially bought SapuraOMV for US$898 million back in 2014 from Newfield Exploration Co. In 2018, they sold half of their stake to OMV AG for up to US$975 million. Recently, Sapnrg sold their remaining 50% stake in SapuraOMV to TotalEnergies for US$705.3 million (approximately RM 3.37 billion), which included US$530.3 million in cash and US$175 million in debt relief. This sale resulted in a net gain of about RM 793 million for Sapnrg

Our Group has scaled up collaborating with MIDF to meet the milestone dateline of 30th Nov 2024. We are target to exit PN 17.

The status of loan repayment will be done in conjunction with the regulation. The group will update the shareholders as we progress, as the debt restructuring involves three tiers: Group debt, Operation, and Subsidiary debt. As of the latest reports, Sapura Energy Bhd (Sapnrg) has a total debt of approximately MYR 10.9 billion. This includes multi-currency financing facilities and outstanding payments to trade creditors.

White Knight (for capital injection) is confirm and a letter has been received on Feb 24. Identity of white knight will remain anonymous. to preserve the identity. It will be announced by the Board when the time is ripe.

Malaysia Bolih!

1 day ago

Mabel where you got the statement “ to meet the milestone dateline of 30th Nov 2024” ?

1 day ago

That's the dateline is Bursa's dateline to submit Regulation Plan..this is cuming from the CEO during the EGM..

1 day ago

Wow, I know the dateline. Just wanted to verify if they will go for the dateline. Looking at the urgency I suspect yes and you have confirmed the statement

1 day ago

Cheers T#1

Malaysia Bolih!!!

1 day ago

nisah395

Is that final dateline or extendable?

1 day ago

Yes, the deadline of November 30, 2024, is the final deadline for Sapura Energy Bhd (Sapnrg) to submit its Practice Note 17 (PN17) regularization plan to Bursa Malaysia. This extension was granted to ensure that Sapnrg can meet all regulatory requirements and complete its debt restructuring efforts.

1 day ago

DickyMe

Madey and his cronies' legacy entities are licking the ground.

12 hours ago

Just about to conclude the week with nice no emotional damage people around. There comes the champion hahaha 😝

12 hours ago

Emotional damage means go eat some uncle Roger fried rice la. Don’t go around forum dropping all your emotional damage message 🤣🤣🤣🤣🤣🤣

12 hours ago

DickyMe

Mentally challenged spastic people are unable to decipher their own investment situation, yet trying to make fun of others. Their behaviour is like "EMPEROR WITHOUT CLOTHES". 🤣🤣😂😂😅😅

10 hours ago

There goes my fun. Thank you emotional damage uncle. I know it’s hard refraining your self from coming haha. But you failed miserably and come entertain me anyway. lol with your emotions, you can’t achieve anything in life la except forum where you can hide all your miserable life pretending to be someone.

9 hours ago