NEXGRAM

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PRACTICE NOTE 17 / GUIDANCE NOTE 3 : OTHERS

NEXGRAM HOLDINGS BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
OTHERS
Description
NEXGRAM HOLDINGS BERHAD - RELIEF ANNOUNCEMENT

We refer to our announcement on 23 October 2020 (“GN3 Relief Announcement”) wherein:

 

 

1. Nexgram Holdings Berhad ("Nexgram" or "the Company") had the prescribed criteria pursuant to Rule 8.04 and Paragraph 2.1(g) of Guidance Note 3 ("GN3") of the ACE Market Listing Requirements of Bursa ("ACE LR"), the Auditors had highlighted a material uncertainty related to going concern (“MUGC”) for the financial year ended 31 July 2019 and Nexgram’s shareholders' equity on a consolidated basis is 50% or less of its share capital (excluding treasury shares) based on the unaudited fourth quarter results ended 31 July 2020.

 

 

2. Under the GN3 Relief Measures, Nexgram was not classified as a GN3 company and did not required to comply with the obligations pursuant to the Rule 8.04 and GN3 of the Ace Market Listing Rules for a period of 12 months from the date of triggering the aforesaid criteria.

 

 

 

3. The Company will endeavor to improve and re-assess its condition and upon the expiry of the 12 months from the GN3 Relief Announcement, announce whether it continues to trigger any of the criteria in GN3 of the ACE Listing Requirements (“Subsequent Announcement”).

 

 

Pursuant to a directive from Bursa Malaysia on 16 June 2021, the Subsequent Announcement was extended to 18 months.

 

Upon the expiry of the 18 months from the GN3 Relief Announcement on 23 April 2022, the Company has re-assessed its GN3 condition based on the Audited Financial Statement for the Financial Year Ended 31 July 2021 as circulated on 28 December 2021 and unaudited first quarter results ended 31 January 2022 as announced on 31 March 2022.

 

Based on the re-assessment, the Board of Directors of Nexgram wish to announce that the Company no longer trigger any of the GN3 Criteria and hence no longer requires the GN3 Relief with immediate effect.

 

This Announcement is dated 27 April 2022.






Announcement Info

Company Name NEXGRAM HOLDINGS BERHAD
Stock Name NEXGRAM
Date Announced 27 Apr 2022
Category General Announcement for PLC
Reference Number GA1-25042022-00027