Easy to understand what Perisai own is to go to its home page website..make more sense.. get your news from the source. You can sign in with Perisai to get the latest news sent to you by email..chears, good luck tomorrow.
No more usd 20 million cash from put option .now just hope petronas to renew the contract for OSV and perisai kamelia (FPSO) and MOPU(too old very hard to secure contract).
today Perisai will fly up.. EOL did not present any evidence that they secure a bank loan of USD20 milion as stated in teh proposal, so Periasi is now free to sell his share 9if he wanted) to any one else..
Perisai granted EOL a call option to acquire the remaining 51% equity interest in their jointly-controlled entity SJR Marine at the same price as the disposal consideration in cash within the following two years.
In the event the call option was not exercised, SJR Marine would source for third party buyers for the Enterprise 3 on terms to be mutually agreed on within 12 months after the expiry of the call option.
If SJR Marine were unable to dispose of Enterprise 3 within the said 12-month period, Perisai would have a put option to require EOL to buy its equity interest in SJR Marine at the same price as the call option for cash.
Fast forward to December last year (after three supplemental agreements had been entered into by the parties): EOL, in a notice dated Dec 8, 2016, said following “certain breaches” by Perisai, EOL had the right to and sought to terminate the shareholders agreement (SHA) signed in December 2013 as well as the share sale agreement.
It said the put option would be extinguished and EOL would acquire Perisai’s shares in SJR Marine at the price of US$1.
Perisai, meanwhile, issued a notice also on Dec 8, 2016, stating that it was exercising the put option, which it said was irrevocably and unconditionally granted by EOL under the agreement.
Later in December, Perisai and EOL entered into a settlement agreement to achieve a full and final settlement of the disputes.
Subject to the completion of the conditions precedent, EOL would buy the put option shares for US$43.043mil and pay the accrued deferred payment interest.
Among the conditions precedent was EOL must provide Perisai with evidence that it had obtained a US$20mil secured term loan facility from an existing bank lender for the purpose of part financing and purchase of the put option shares and a US$1.5mil secured term loan facility from the lender for the purpose of working capital.
oil is heading USD 55-60....so..definitely PERISAI will reboot to RM 0.23 ....same like Hibiscus...All oil counter will pass thru..pre oil downward spiral to USD 30...
Plus...FBMKLCI top bracket are all FINANCIAL INSTITUTION. which most of it like to fund Oil and Gas employees for housing loan...so..when Oil and Gas stocks move...Financial stocks also happy and also Property Stocks...so..dont worry...Perisai will be Gold Mine soon...therefore Chase it..:)
Perisai has approximately 5 working days to submit its regularisation plan to bursa. Otherwise its shares will be suspended and delisted. Be more cautious when trading...
It is now not about the crude oil or other measurements up or down. It is about the ability of perisai tu submit their plan. If failing to do so, you money is worth nothing anymore.
PERISAI boleh dapat extention punya...Regularisation for PERWAJA...took years utk delisted..same goes with LionInd...dah bertahun..so PERISAI..? It will take years also to delisted
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Posted by Betta68 > 2017-09-26 22:53 | Report Abuse
Easy to understand what Perisai own is to go to its home page website..make more sense.. get your news from the source. You can sign in with Perisai to get the latest news sent to you by email..chears, good luck tomorrow.