NYLEX

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OTHERS NYLEX (MALAYSIA) BERHAD ("NYLEX" OR "COMPANY") SUSPENSION AND DE-LISTING UNDER PARAGRAPH 8.03A OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS

NYLEX (MALAYSIA) BERHAD

Type Announcement
Subject OTHERS
Description
NYLEX (MALAYSIA) BERHAD ("NYLEX" OR "COMPANY")

SUSPENSION AND DE-LISTING UNDER PARAGRAPH 8.03A OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS

We refer to the Company’s announcements dated 27 January 2022 and 28 January 2022 in relation to the First Announcement and the announcements made on 16 August 2023, 23 August 2023 and 13 October 2023. Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as those used in the said announcements.

 

As announced on 13 October 2023, Bursa Securities had via its letter dated 13 October 2023, granted Nylex a further extension of time until 26 January 2024 to submit a regularisation plan to the relevant authorities for approval, failing which:

  1. the trading of the securities of Nylex shall be suspended on the 6th market day from the date of notification of suspension by Bursa Securities or such other date as may be specified by Bursa Securities ("Suspension Date"); and
  2. the securities of the Company shall be de-listed and removed from the Official List of Bursa Securities upon the expiry of 2 market days from the Suspension Date, unless an appeal is submitted within 5 market days from the date of notification of de-listing by Bursa Securities ("Appeal Timeframe").

While the Board acknowledges that an appeal against the suspension and de-listing of the Company’s securities is to be submitted within the Appeal Timeframe, the Board has resolved to submit an application to Bursa Securities today in respect of the following:

  1. appeal against the decision of Bursa Securities to suspend and de-list the securities of the Company from the Official List of Bursa Securities; and
  2. subject to the appeal being considered favourably by Bursa Securities, to seek for an extension of time to submit a regularisation plan.

(To be referred to as “Appeal/EOT Application”).

 

To this end, the Company has, on 23 January 2024, appointed Maybank IB as Principal Adviser to the Company for purposes of the regularisation plan to be submitted by the Company to the relevant authorities pursuant to Paragraph 8.04(3) of the Listing Requirements and Paragraph 5.0 of PN17 of the Listing Requirements, subject to the decision of Bursa Securities on the Appeal/EOT Application.

 

This Announcement is dated 26 January 2024.






Announcement Info

Company Name NYLEX (MALAYSIA) BERHAD
Stock Name NYLEX
Date Announced 26 Jan 2024
Category General Announcement for PLC
Reference Number GA1-26012024-00054