PRACTICE NOTE 17 / GUIDANCE NOTE 3 : REGULARISATION PLAN
KINSTEEL BHD |
Type | Announcement |
Subject | PRACTICE NOTE 17 / GUIDANCE NOTE 3 REGULARISATION PLAN |
Description | KINSTEEL BHD (KINSTEEL OR COMPANY) EXTENSION OF TIME TO SUBMIT ITS REGULARISATION PLAN UNDER PRACTICE NOTE (PN) 17 OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS |
We refer to the announcement dated 27 December 2019. On behalf of the Board of Directors of the Company, M&A Securities Sdn Bhd wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had on 23 January 2020 granted the Company a further extension of time until 30 April 2020 (“Further Extended Timeframe”) as requested to submit the Company’s regularisation plan to the relevant authorities for approval.
Bursa Securities has further decided to de-list the securities of Kinsteel from the Official List of Bursa Securities pursuant to Paragraph 8.04 of the Bursa Securities Main Market Listing Requirements in the event:
(i) the Company fails to submit the regularisation plan to the relevant authorities for approval within the Extended Timeframe i.e. on or before 30 April 2020;
(ii) the Company fails to obtain the approval for the implementation of its regularisation plan and does not appeal within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;
(iii) the Company does not succeed in its appeal; or
(iv) the Company fails to implement its regularisation plan within the timeframe or extended timeframes stipulated by the relevant authorities.
Upon occurrence of any events set out in (i) to (iv) above, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of 2 market days from the date the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.
This announcement is dated 3 February 2020. |
Announcement Info
Company Name | KINSTEEL BHD |
Stock Name | KINSTEL |
Date Announced | 03 Feb 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-03022020-00041 |