We refer to the announcement dated 19 September 2016 on the winding up of the Company.

We wish to inform that Lim San Peen and Datuk Mohd Anwar bin Yahya having notified the Registrar of Companies of their appointment and deposited the necessary security deposit with the Official Receiver, are now empowered to act as the liquidators of the Company (collectively, “Liquidators”) pursuant to Section 228 of the Companies Act 1965 (“Act”).

We further wish to inform that:

(i) the Liquidators have taken over the administration of the Company’s affairs with powers provided under Section 236 of the Act. The exercise of the Liquidators’ powers will be subject to the control of the High Court;

(ii) the powers of the Board of Directors of Sona Petroleum Berhad (In Liquidation) ("Board") to deal with the Company’s property or to manage its undertakings have ceased and the Liquidators will notify the Board in writing to prepare a statement of the Company’s affairs to be submitted to the Liquidators;

(iii) the Liquidators are filing an application to the High Court for amongst others:

(a) the liberty to appoint a team of professionals to assist the Liquidators in the discharge of their duties; and

(b) the permission:

(A)       to make an interim distribution to eligible shareholders based on the record of depositors at Bursa Malaysia Securities Berhad as at 29 September 2016 (“Eligible Shareholders”) in respect of 97% of the monies to be transferred from the cash trust account operated by Deutsche Trustees Malaysia Berhad to a cash trust account in CIMB Bank to be opened and operated by the Liquidators as trustee (“Cash Trust Account”); and

(B)       to retain the remaining 3% of the monies in the Cash Trust Account (“Retention Sum”) to meet liquidation expenses and taxes and to effect final distribution of any remaining sums to the Eligible Shareholders upon completion of the liquidation; and

(iv) the Liquidators expect to be able to make the interim distribution of the monies held by November 2016 subject to obtaining the order of the High Court for the matters listed in item (iii).

This announcement is dated 26 September 2016.