Sequa Petroleum N.V. Plans Company Dissolution

Sequa Petroleum N.V. has announced its plan to dissolve the company following unsuccessful attempts to secure new equity capital. This development comes after monitoring the progress towards the completion of a previously announced transaction, which has stalled without any recent indications of resumption.

Amid these challenges, the company has initiated steps to reduce its remaining financial liabilities in compliance with statutory provisions for closure. Sequa Petroleum aims to manage this dissolution process in a manner that remains solvent.

An extraordinary general meeting of shareholders is being prepared. The meeting will address the official resolution on the company's dissolution process.