SKPETRO - OTHERS SAPURAKENCANA PETROLEUM BERHAD ("SKPB" OR "COMPANY") PROPOSED ACQUISITION OF NEWFIELD INTERNATIONAL HOLDINGS INC. MALAYSIAN OIL & GAS ASSETS(“PROPOSED TRANSACTION”)
| Company Name | SAPURAKENCANA PETROLEUM BERHAD |
| Stock Name | SKPETRO |
| Date Announced | 22 Oct 2013 |
| Category | General Announcement |
| Reference No | SP-131022-69315 |
| Type | Announcement |
| Subject | OTHERS |
| Description | SAPURAKENCANA PETROLEUM BERHAD ("SKPB" OR "COMPANY") PROPOSED ACQUISITION OF NEWFIELD INTERNATIONAL HOLDINGS INC. MALAYSIAN OIL & GAS ASSETS(“PROPOSED TRANSACTION”) |
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PATIMAS - PRACTICE NOTE 1 / GUIDANCE NOTE 5:NEW DEFAULT
| Company Name | PATIMAS COMPUTERS BERHAD |
| Stock Name | PATIMAS |
| Date Announced | 22 Oct 2013 |
| Category | General Announcement |
| Reference No | CC-131022-67044 |
| Type | Announcement |
| Subject | PRACTICE NOTE 1 / GUIDANCE NOTE 5 NEW DEFAULT |
| Description | PATIMAS COMPUTERS BERHAD (“PATIMAS” OR “THE COMPANY”) DEFAULT IN PAYMENT PURSUANT TO PRACTICE NOTE 1 (“PN1”) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD |
1. INTRODUCTION The Board of Directors of Patimas (“the Board”) wishes to announce that Patimas Computer Software Sdn Bhd (“PCSSB”), a subsidiary of the Company had on 17 October 2013 received a Notice of Demand cum Termination dated 8 October 2013 from the advocates and solicitors acting on behalf of Bank Islam Malaysia Berhad (“BIMB”) stating that PCSSB has defaulted in repayment of financing facility and the arrears amount outstanding amounting to RM3,204,457.90. The details of the said facility are as follows:- BUSINESS CASHLINE-I OF RM2,000,000.00 Selling price : RM3,500,000.00 (-) Undisbursed facility : RM 980.57 (-) Payment received : RM 294,969.95 (+) Miscellaneous : - (+) Ta’widh : RM 408.42 Total Outstanding : RM3,204,457.90 Prior to the above default, the Company was classified as a PN1 status company on 28 November 2013 and there is no further development on the status of default in payment of principal and interests accrued as at todate. In addition, the Company had on 1 November 2012 triggered Paragraph 8.04 and Paragraph 2.1(d) of the Main Market Listing Requirements, which resulted in the Company being designated a PN17 status company. The Company is presently in the midst of formulating a regularisation plan to address its PN17 status. 2. DETAILS OF DEFAULT The details of the Default are as follows:- (a) Date of Default The date of default is 22 October 2013. (b) Reasons for the Default The reason for the Default was that the current cash flow generated from the operations of Patimas and its subsidiaries (“Patimas Group”) is insufficient to repay the outstanding amount. (c) Measures by the Company to address the Default The Company and PCSSB are currently in communication with the BIMB and exploring various options to regularise the default. (d) Legal implications of the Default including the extent of the Company’s liability in respect of the obligations incurred under the agreements for the indebtedness The default may have a consequential impact on other on-going bank borrowings of Patimas Group. (e) Business, financial and operational impact of the Default on the Company At this point in time, the Default has no material impact on the operations of other operating subsidiaries of Patimas. (f) Cross Default To our best knowledge, the Company is of the view that the default of payment does not constitute an event of default under a different agreement for indebtedness (cross default). (g) Confirmation on subsidiary PCSSB is not a major subsidiary of Patimas. (h) Solvency declaration Currently, the Group is in negotiation with its lenders and creditors to negotiate the steps to improve the Group’s cash position with the indulgence and support from the lenders and creditors. There is no major development on the status of default in payment of principal and interests accrued as at todate. This announcement is dated 22 October 2013. | |
SAM - Additional Listing Announcement
| Company Name | SAM ENGINEERING & EQUIPMENT (M) BERHAD |
| Stock Name | SAM |
| Date Announced | 22 Oct 2013 |
| Category | Additional Listing Announcement (ALA) |
| Reference No | CC-131022-41061 |
1. Details of Corporate Proposal | |
| Whether the corporate proposal involves the issuance of new type and new class of securities? | No |
| Types of corporate proposal | Others |
| Details of corporate proposal | Conversion of Irredeemable Convertible Unsecured Loan Stocks to Ordinary Shares |
| No. of shares issued under this corporate proposal | 180,000 |
| Issue price per share ($$) | MYR 1.000 |
| Par Value ($$) | MYR 1.000 |
Latest issued and paid up share capital after the above corporate proposal in the following | |
| Units | 73,290,206 |
| Currency | MYR 73,290,206.000 |
| Listing Date | 25/10/2013 |
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