Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 20): Sona Petroleum Bhd shares will be suspended from Sep 27 ( next Tuesday), following the winding up of the special purpose acquisition company.

In a filing with the exchange this morning, Sona said that trading of its shares will be suspended from 9 am next Tuesday, pursuant to Paragraph 16.02(1)(j) of the Main Market Listing Requirements.

On April 26, the Sona board failed to convince shareholders of the viability of the US$25 million Stag Oilfield acquisition in Australia. Field owners Quadrant Energy Ltd and Santos Ltd subsequently notified Sona about the termination of the sale and purchase agreement, effective June.

At 11.21 a.m., Sona shares were up 1 sen (2.1%) to 47.5 sen, with 7.52 million shares exchanging hands.

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