(Kuala Lumpur, 17th) Sabura Energy ( $SAPNRG (5218.MY)$ ) approved for the 4th time to extend the restructuring deadline!
Sabura Energy submitted a notification on Tuesday, requesting to extend the deadline for submitting the restructuring plan from November 30 by six months to May 31, 2025, approved by the Malaysian Exchange.
Consistent with previous statements, the company stated that the application for an extension was due to the complexity of the overall restructuring plan, while the debt restructuring supporting its strategic restructuring plan is progressing well.
According to previous reports, the company needs to submit a restructuring plan to the relevant regulatory institutions within a specified time, obtain approval from the regulatory institutions thereafter, and implement the plan within the time limit set by the regulatory institutions.
However, if the restructuring is not completed on time, the stock may be suspended by the Exchange, or even delisted.
Source: Nanyang Siang Pau
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