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KBUNAI

0.110

+0.005 (+4.8%)

PUBLIC SHAREHOLDINGS SPREAD

KARAMBUNAI CORP BHD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
KARAMBUNAI CORP BHD ("KCB" OR THE "COMPANY")

FURTHER EXTENSION OF TIME TO COMPLY WITH PUBLIC SHAREHOLDING SPREAD REQUIREMENTS PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS")

Further to the Company’s announcement on 15 August 2016, 4 January 2017, 24 March 2017, 21 June 2017, 20 September 2017, 5 March 2018, 27 July 2018 and 23 January 2019 in relation to the public shareholding spread pursuant to paragraph 8.02(1) of the Listing Requirements of Bursa Securities, the Board of KCB wishes to announce that Bursa Securities has vide their letter dated 9 August 2019 rejected the application made by the Company on further extension of time to comply with the public shareholding spread requirements.

 

As at the date of this announcement, the percentage of public shareholding spread of KCB is at 20.72%, which is below the minimum public shareholding spread requirements and that the Company has yet to comply with the public shareholding spread requirements.

 

Based on the foregoing and in respect of the breach of paragraph 8.02(1) of the Listing Requirements, Bursa Securities may take or impose any type of action or penalty pursuant to paragraph 16.19 of the Listing Requirements, and/or may suspend the trading in the securities of KCB pursuant to paragraph 16.02 of the Listing Requirements.

 

The Board of KCB at this juncture wishes to announce that the Company is evaluating various options to address the aforementioned non-compliance event and will deliberate on the next course of action.

 

This announcement is dated 9 August 2019.






Announcement Info

Company Name KARAMBUNAI CORP BHD
Stock Name KBUNAI
Date Announced 09 Aug 2019
Category General Announcement for PLC
Reference Number GA1-09082019-00071