We refer to the announcements dated 14 July 2016, 9 August 2016, 10 August 2016 and 30 August 2016 in relation to the winding up of the Company.

Following the above, the Board of Directors of Sona Petroleum (“Board”) wishes to update that Sona Petroleum has been served, on 1 September 2016, the Supplemental Affidavit affirmed by Paul Supramaniam on 30 August 2016 on behalf of Law Asia Pte Ltd (“Law Asia”) in addition to the Affidavit affirmed by him on 29 August 2016.

Briefly, Law Asia is alleging that it is entitled to appear on the hearing of the winding up petition of Sona Petroleum filed under Section 218(1)(h) (“Petition”) as a creditor of Sona Petroleum to oppose the Petition on the grounds that Section 218(1)(h) is not applicable as the mode of winding up seeks to prejudice and by-pass the interests of any creditors of Sona Petroleum.

The Board, having been advised by the solicitors of Sona Petroleum, are of the view that Law Asia’s opposition to the Petition has no basis or merits and will defend the claim as appropriate. 

This announcement is dated 2 September 2016.