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Byline: Kamarul Yunus
PETALING JAYA: HIBISCUS Petroleum Bhd, the country's first listed special purpose acquisition company (SPAC), received a resounding approval from its eligible voting shareholders to acquire Middle-East based Lime Petroleum plc, with only one per cent of the eligible voting shareholder's opting to go against the proposal.
At the company's extra-ordinary general meeting (EGM) yesterday, Hibiscus Petroleum received 99 per cent approval for the Lime Petroleum acquisition from its voting shareholders in terms of number of shareholders and value of shares represented.
"The total eligible voting share base of the company amounts to 334.4 …