CLIQ Energy's major shareholder said to have thrown in the towel

PETALING JAYA: Best Oracle Sdn Bhd, the major shareholder of CLIQ Energy Bhd, is believed to have thrown in the towel after numerous attempts to secure a qualifying acquisition (QA).
“From the consultation with lawyers, there won’t be much chance for them (Best Oracle) to proceed with the QA, so they will not call for a shareholders’ meeting as well,” the source said.
Earlier this week, the High Court allowed CLIQ Energy’s petition to wind up the company. Trading in CLIQ Energy shares will be suspended from Oct 5.
CLIQ Energy is the second special purpose acquisition company that has failed to migrate to become a full-fledged oil and gas company.