ARMADA - OTHERS BUMI ARMADA BERHAD - SYNDICATED BRIDGE LOAN FACILITY OF USD750 MILLION
| Company Name | BUMI ARMADA BERHAD |
| Stock Name | ARMADA |
| Date Announced | 31 Mar 2014 |
| Category | General Announcement |
| Reference No | BA-140328-70339 |
| Type | Announcement |
| Subject | OTHERS |
| Description | BUMI ARMADA BERHAD - SYNDICATED BRIDGE LOAN FACILITY OF USD750 MILLION |
1. INTRODUCTION Bumi Armada Berhad ("Bumi Armada") wishes to announce that its subsidiary, Armada Kraken Pte. Ltd. ("Armada Kraken") had on 31 March 2014 secured a syndicated bridge loan facility of USD750 million ("Facility"). The lenders of the Facility are Oversea-Chinese Banking Corporation Limited, Maybank International Labuan Branch, Sumitomo Mitsui Banking Corporation, Singapore Branch, United Overseas Bank Limited, Export-Import Bank of Malaysia Berhad and Korea Development Bank, Singapore Branch. 2. INFORMATION ON ARMADA KRAKEN Armada Kraken is a private limited company incorporated in Singapore. Armada Kraken is a wholly-owned subsidiary of Bumi Armada Offshore Holdings Limited, which is in turn a wholly-owned subsidiary of Bumi Armada. The principal activities of Armada Kraken are ship owners, charterers, managers of ships and vessels, marine support and other services to offshore oil and gas companies. Armada Kraken had on 20 December 2013 entered into a Bareboat Charter Contract with EnQuest Heather Limited, EnQuest ENS Limited, First Oil and Gas Limited, Nautical Petroleum Limited and Nautical Petroleum AG (as charterers), for the bareboat charter of a floating production, storage and offloading vessel ("FPSO") to be deployed at the Kraken Field located in the United Kingdom Sector of the North Sea ("Bareboat Charter"). 3. INFORMATION ON THE FACILITY 3.1 The Facility is intended for Armada Kraken to, inter alia, part-finance and reimburse all costs and expenses in relation to the acquisition, conversion, refurbishment, mobilization, transport, hook-up and mooring and installation of the FPSO together with all ancillary and related works required under the Bareboat Charter. 3.2 Armada Kraken’s payment obligations under the Facility are guaranteed by Bumi Armada. 3.3 The Facility is intended to be refinanced by long term project financing in due course. 4. EFFECTS OF THE FACILITY 4.1 Issued and Paid-up Share Capital and Substantial Shareholdings The Facility is not expected to have any effect on the issued and paid-up share capital of Bumi Armada and the substantial shareholders' shareholdings in Bumi Armada. 4.2 Net Assets ("NA"), Earnings and Gearing Ratio The Facility is presently expected to have an impact on the NA, earnings and gearing ratio of the Bumi Armada group for the financial year ending 31 December 2014 and the subsequent financial periods. 5. DIRECTORS' RECOMMENDATION 6. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the said Facility. This announcement is dated 31 March 2014.
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ARMADA - OTHERS LETTER OF INTENT TO AWARD A CONTRACT FOR THE CHARTERING, OPERATION AND MAINTENANCE OF A FLOATING PRODUCTION, STORAGE AND OFFLOADING VESSEL (“FPSO”)
| Company Name | BUMI ARMADA BERHAD |
| Stock Name | ARMADA |
| Date Announced | 31 Mar 2014 |
| Category | General Announcement |
| Reference No | BA-140325-53962 |
| Type | Announcement |
| Subject | OTHERS |
| Description | LETTER OF INTENT TO AWARD A CONTRACT FOR THE CHARTERING, OPERATION AND MAINTENANCE OF A FLOATING PRODUCTION, STORAGE AND OFFLOADING VESSEL (“FPSO”) |
Bumi Armada Berhad (“Bumi Armada” or the “Company”) is pleased to announce that eni Angola S.p.A. (“eni Angola”) has via a Letter of Intent (“LOI”), confirmed their intention to award a contract for the chartering, operation and maintenance of a FPSO tanker facility complete with Mooring System to the Consortium of Bumi Armada Offshore Holdings Limited (“BAOHL”) and Angoil Bumi JV Lda (“ABJL”) (collectively referred as the “Contractor”) at Block 15/06, East Hub located in deep water offshore Angola (the “Contract”) at an indicative value of USD2.9 billion (equivalent to approximately RM9.5 billion). The LOI is construed as an interim agreement under which BAOHL and ABJL are to proceed to commence performance of the work related to the Contract under the LOI ahead of the final award and is subject to successful negotiations of the commercial terms and execution of the Contract expected within 120 calendar days after the effective date of the LOI of 28 March 2014 (“LOI period”). If eni Angola terminates the LOI during the LOI period, the Contractor will be compensated on the basis of documented costs up to an agreed maximum amount. BAOHL, a wholly-owned subsidiary of Bumi Armada, was incorporated in the Republic of the Marshall Islands under the Marshall Islands Business Corporations Act 1990 as a Marshall Islands Corporation on 17 June 2010 and is principally involved in the business of owning, chartering, managing of ships and vessels, provision of marine support and other services to the offshore oil and gas companies. ABJL is an Angolan joint venture company of BAOHL, Angoil Exploracao Petrolifera S.A. and Cosmarg Limitada. eni Angola is a wholly-owned subsidiary of eni S.p.A., an Italy-based multinational oil and gas company listed on the New York Stock Exchange. Block 15/06 is operated by eni Angola (35%) with other partners of the joint venture, SSI Fifteen Limited (25%), Sonangol P&P (30%), Falcon Oil Holdings Angola SA (5%) and Statoil Angola Block 15/06 (5%). The Contract, subject to execution, is expected to contribute positively to the revenue and earnings of the Bumi Armada Group for the financial year ending 31 December 2014. None of the Directors and/or major shareholders of the Company or persons connected to them have any interest, direct or indirect, in the Contract. This announcement is dated 31 March 2014. | |
ARMADA - ARMADA- TRADING HALT & RESUMPTION OF TRADING
| Company Name | BUMI ARMADA BERHAD |
| Stock Name | ARMADA |
| Date Announced | 31 Mar 2014 |
| Category | Listing Circular |
| Reference No | CY-140331-31849 |
LISTING'S CIRCULAR NO. L/Q : 70188 OF 2014
Kindly be advised that trading in the above Company's securities will be halted with effect from 9.00 a.m., Monday, 31 March 2014 and will resume with effect from 10.00 a.m., Monday, 31 March 2014.
Your attention is drawn to the Company's announcement dated 31 March 2014.
TAKAFUL - Circular/Notice to Shareholders
| Company Name | SYARIKAT TAKAFUL MALAYSIA BERHAD |
| Stock Name | TAKAFUL |
| Date Announced | 31 Mar 2014 |
| Category | PDF Submission |
| Reference No | ST-140313-49930 |
| Subject | Circular to Shareholders in relation to Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature |
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