Propel Global shareholders approve sale of Propel Maxflo stake and other resolutions

thestar.com.my

Propel Global shareholders approved all resolutions at their EGM, including the sale of its remaining 70% stake in Propel Maxflo for RM17.24 million. The disposal involves Propel Oilfield Services selling its stake to Reservoir Link Sdn Bhd for cash and Reservoir Link Energy shares. Shareholders also approved a private placement of new shares and a capital reduction to offset accumulated losses. These approvals aim to enhance funding flexibility, strengthen the balance sheet, and streamline the company's portfolio for future growth and operational focus.


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Propel Global shareholders approve sale of Propel Maxflo stake and other resolutions | News Minimalist