Dayang Takeover Offer For Perdana Petroleum Becomes Unconditional

• Dayang Enterprise Holdings’ takeover offer for Perdana Petroleum has become unconditional, as it now owns a 51.2 percent stake in the latter.

• The acceptance condition has been fulfilled and the offer became wholly unconditional on 24 July 2015. As of the same date, Dayang also held 12.8 million or 41.7 percent of Perdana Petroleum’s warrants.

• Dayang will be keeping the offer open for acceptance for at least 14 days from the unconditional date. As such, the offer shall remain open for acceptance until 5pm on 13 August 2015.

Significance : Dayang plans to eventually become a market leader in providing integrated hook-up, construction and commissioning (HUCC) services to the O&G industry through the proposed acquisition of Perdana Petroleum.

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