PGB

0.165

+0.005 (+3.1%)

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : OTHERS

PROPEL GLOBAL BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
OTHERS
Description
PROPEL GLOBAL BERHAD ("PGB" OR THE "COMPANY")

UPLIFTMENT OF THE STATUS OF PGB AS AN AFFECTED LISTED ISSUER PURSUANT TO PRACTICE NOTE 17 ("PN17") OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS")

Reference is made to the Company’s announcement dated 23 February 2023 in relation to the application for upliftment of PGB from its PN17 status (“Upliftment Application”).

On behalf of the Board, Hong Leong Investment Bank Berhad wishes to announce that Bursa Securities has vide its letter dated 30 May 2023, decided to grant the Company a modification of compliance with Paragraph 5.2(c) of PN17 of the Listing Requirements based on the net profits for the 3-month financial period ended (“FPE”) 31 December 2022 and 3-month FPE 31 March 2023, after the completion of the implementation of the Company’s Regularisation Plan on 7 October 2022.

Bursa Securities further noted that PGB has regularised its financial condition and level of operations and no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Listing Requirements.

After due consideration of all facts and circumstances of the Upliftment Application, Bursa Securities has decided to approve the Upliftment Application. As a result thereof, the upliftment of PGB from being classified as PN17 company will be effective on 31 May 2023.

This announcement is dated 30 May 2023.






Announcement Info

Company Name PROPEL GLOBAL BERHAD
Stock Name PGB
Date Announced 30 May 2023
Category General Announcement for PLC
Reference Number GA1-30052023-00093