PLS

0.930

-0.02 (-2.1%)

PUBLIC SHAREHOLDINGS SPREAD

PLS PLANTATIONS BERHAD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
PLS PLANTATIONS BERHAD ("PLS" OR "THE COMPANY") 
-	Status Announcement on the Public Shareholding Spread

We refer to the announcements dated 9 December 2019, 26 December 2019, 28 February 2020, 30 March 2020, 4 August 2020, 28 August 2020, 8 October 2020 and 26 January 2021 in relation to the Company’s non-compliance with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”) (“Announcements”).

 

Unless otherwise stated, all terms used herein shall have the same meaning as defined in the Announcements.

 

The Board wishes to announce that following the completion of the private placement of up to 10% of the total number of issued shares of the Company (“Placement”) which was announced on 22 January 2021 and completed on 8 February 2021, the Company's public shareholding spread stands at 14.90% based on the Company’s Record of Depositors (“ROD”) as at 9 February 2021.

 

Upon the appointment of Dato’ Sri Mohamed Nazir bin Abdul Razak (“DSNR”) as our Non-Executive Independent Chairman on 10 February 2021, DSNR’s shareholding in PLS is now deemed to have not met the criteria of being “public” based on the Listing Requirements and thus, the Company's public shareholding spread now stands at 10.15% based on the ROD as at 9 February 2021.

 

The Company's public shareholding spread of 10.15% still represents a shortfall of 14.85% from the Public Spread Requirement of 25%. As such, the Company and Ekovest will continue explore other avenues to address the remaining shortfall in the Public Spread Requirement of approximately 14.85% by 28 February 2021 or any extended period as may be approved by Bursa Securities.

 

The Company will continue to monitor the level of its public shareholding spread and will make the necessary announcement in relation to the status of compliance with the Public Spread Requirement in accordance with the Listing Requirements.

 

 

This announcement is dated 10 February 2021.






Announcement Info

Company Name PLS PLANTATIONS BERHAD
Stock Name PLS
Date Announced 10 Feb 2021
Category General Announcement for PLC
Reference Number GA1-10022021-00131