Sumatec fails to submit 3QFY20 financial statements, share trade suspension continues

TheEdge Thu, Dec 03, 2020 12:29pm - 2 months ago

KUALA LUMPUR (Dec 3): Sumatec Resources Bhd has failed to submit its financial report for the third quarter ended Sept 30, 2020 (3QFY20) within the stipulated time frame under Bursa Securities' Main Market Listing Requirements (MMLR), and therefore risks a continued suspension of its shares.

In a filing today, the bourse said if a listed issuer fails to issue the outstanding financial statements within five market days after the expiry of the relevant time frame under the MMLR, the trading of securities of the issuer will be suspended, in addition to any other enforcement action.

"In view of the above, and in the event that the company is unable to submit the 3QFY20 report on or before Dec 7, 2020, the trading in the above company's securities will be suspended with effect from 9.00am, Tuesday, Dec 8, 2020, until further notice.

"However, as the company's securities have been suspended from trading since Nov 7, 2019, in view of the winding up order against the company, the suspension of trading will continue until further notice," said the bourse.

If the listed issuer fails to issue the outstanding financial statements within six months from the expiry of the relevant time frame, delisting procedures will be initiated.

To date, the company has failed to submit five financial reports since 3QFY19.

Sumatec was last traded at 0.5 sen, with a market capitalisation of RM21.26 million.

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