DELISTING OF SECURITIES
METAL RECLAMATION BHD |
Type | Announcement | ||||||||||||||||||||||||
Subject | DELISTING OF SECURITIES |
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Description | METAL RECLAMATION BHD (METALR OR THE COMPANY) APPEAL AGAINST DE-LISTING UNDER PARAGRAPH 8.04 OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS (MAIN LR) |
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The Board of Directors of METALR hereby announces that Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 18 November 2015 informed that after due consideration of all facts and circumstances of the matter including the written representations and oral representations on 15 October 2015 had decided to :- (1) dismiss the Company’s appeal for an extension of time to submit its regularisation plan to the relevant authorities for approval; and (2) de-list the securities of the Company from the Official List of Bursa Securities pursuant to paragraph 8.04 of the Main LR. In the circumstances, the securities of the Company will be removed from the Official List of Bursa Securities upon the expiry of two (2) market days from 18 November 2015, i.e. on Monday, 23 November 2015. Bursa Securities had arrived at the aforesaid decision after having considered, amongst others, the following factors:-
With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository. Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from their Central Depository System (“CDS”) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures. Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company’s performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities. This announcement is dated 19 November 2015. |
Announcement Info
Company Name | METAL RECLAMATION BHD |
Stock Name | METALR |
Date Announced | 19 Nov 2015 |
Category | General Announcement for PLC |
Reference Number | GA1-19112015-00051 |