KINSTEL

0.005

(%)

De-Listing of Kinsteel Berhad

KINSTEEL BHD

Bursa Malaysia Securities Berhad (Bursa Securities) had dismissed Kinsteel Berhad's appeal against the rejection of the proposed regularisation scheme by Bursa Securities.

 

In the circumstances and pursuant to Bursa Securities’ letter dated 9 June 2020, the securities of the Kinsteel Berhad shall be removed from the Official List of Bursa Securities upon the expiry of 2 market days from the date of this letter i.e. on Tuesday, 16 March 2021.

 

Effect of De-listing from the Official List of Bursa Securities

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 It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.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 businesses 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.


Announcement Info

Company Name KINSTEEL BHD
Stock Name KINSTEL
Date Announced 11 Mar 2021
Category Listing Circular
Reference Number ILC-11032021-00007