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SERI KEMBANGAN (Nov. 29): Sapura Energy Bhd had today obtained shareholder approval for its proposed capital increase, which aimed to raise up to RMB 3.98 billion to reduce its share price. debt. The company said it received support from institutional investors for this exercise.
Tan Sri Shahril Shamsuddin, group chairman and chief executive officer of the group, told reporters after the extraordinary general meeting of Sapura Energy meeting here today: "The ceremony went off without a hitch, thanks the strong support of institutional funds for these exercises ".
August 24 of this year, theedgemarkets.com said the oil and gas service provider had proposed a capital increase of new common shares in addition to the Islamic redeemable convertible preferred shares (RCPS-i) in the company, which aimed to raise up to 3.98 billion RM to reduce borrowing.
Sapura Energy then stated in a document filed with Bursa Malaysia that the rights issue of up to 9.99 billion new ordinary shares at 30 sen corresponds to 998.69 million free warrants. Sapura Energy said the fiscal year would run on the basis of five rights shares for three shares held and one warrant for ten rights shares.
Sapura Energy has stated that the rights issue up to 2.4 billion RCPS-i at 41 sen each would apply to two RCPS-i for every five shares held.
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