KUALA LUMPUR: Sapura Energy Bhd clarifies that it has yet to submit its proposed regularisation plan to Bursa Malaysia Securities for approval.
The company was referring to a news report on Nov 23 in respect of the completion of its proposed regularisation plan and exiting Practice Note 17 (PN17) status.
It said the statements in relation to the timeline mentioned in the article "is an aspirational target, albeit overly optimistic and conditional, among others, upon the approvals required for the proposed regularisation plan of the company."
"The statements were intended to reflect that the company is taking the necessary measures to be in a position to submit its regularisation plan to Bursa Malaysia before the end of 2025," it said.
Sapura Energy added that its directors are aware of the responsibility to adhere with the relevant laws, guidelines and requirements pertaining to PN17 exit.
"For information, the company has submitted an extension of time application in respect of the proposed regularisation plan to Bursa Malaysia on Nov 18 for its approval and we currently await its approval.
"Hence, the proposed regularisation plan of the company has yet to be submitted to Bursa for its approval at this juncture," it said.