KUALA LUMPUR: Sapura Energy Bhd has been granted a fourth extension of time to submit its regularisation plan - now due May 31, 2025.
In a filing with Bursa Malaysia Securities, the company said the extension of time is without prejudice to Bursa Securities' right to proceed to suspend and de-list the company's stock.
It may do so should Sapura Energy fail to submit its regularisation plan by the new deadline, fail to obtain approval for the regularisation plan or implement the plan within the stipulated time frame.
Sapura Energy fell into PN17 status on May 31, 2022 after its shareholders' equity position fell to less than 50 per cent of its share capital.
The stock last traded at three sen giving it a market capitalisation of RM551.3 million.