KUALA LUMPUR (July 6): ACE-Market listed GFM Services Bhd fell 4.25% in early trade this morning after the company said it is seeking a transfer of its listing to the Main Market of Bursa Malaysia in the second half of this year.

At 9.20am, GFM fell 3 sen to 67.5 sen with 1.63 million shares traded.

In a filing with Bursa Malaysia yesterday, the integrated facilities management service provider said it has met the historical profit track record and other relevant requirements for the transfer.

It currently has a public shareholding spread of 29.9%, comprising 4,699 public shareholders holding not less than 100 shares each — exceeding the minimum requirement of 25% public shareholding in the hands of 1,000 public shareholders.

GFM is also proposing to establish and implement an Employee Share Scheme (ESS) of up to 5% of the issued and paid-up share capital of GFM. The ESS will comprise an Employee Share Option Scheme and an Employee Share Grant Scheme, with an aim to attract, retain, motivate and reward its employees.