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Sapura Energy Granted Extension for Regularization Plan

Sapura Energy Bhd (SEB) has been given more time by Bursa Malaysia to submit its Practice Note 17 (PN17) regularisation plan to regulatory authorities. The extension, valid until November 30, 2023, was granted due to the complexity of SEB's overall Reset plan.

SEB's debt restructuring efforts, which support its regularization strategy, are progressing positively. Additionally, the High Court of Malaya recently extended the convening and restraining orders for SEB and its subsidiaries.

This extension allows SEB to finalize schemes with financiers and creditors as part of its debt restructuring plan, with creditor meetings scheduled by October 2023.


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