IT is the end of the road for embattled special-purpose acquisition company (SPAC) Sona Petroleum Bhd as it prepares to be delisted after failing to make its qualifying acquisition (QA).
Managing director Datuk Seri Hadian Hashim said the company is identifying liquidators so that it can return shareholders investments.
Sona will undertake the process of liquidation as the company is solvent.
We are in the process of identifying liquidators and we expect to return the funds sometime after July 31.
We currently have some RM500 million cash in trust and that would translate to, perhaps, 48 sen each share. But again, that depends on the liquidators and other due diligence that we have to do, he said after Sonas fifth and final annual ge…
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