Type Announcement
Appeal on the De-Listing of STONE's securities under Paragraph 8.04 of the Bursa Malaysia Securities Berhad ("Bursa Securities") Main Market Listing Requirements ("Main MR")

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the Announcements made on 6 December 2016, 3 January 2017, 2 February 2017, 1 March 2017, 3 April 2017, 2 May 2017, 1 June 2017, 14 July 2017, 3 August 2017, 5 September 2017, 2 October 2017, 1 November 2017, 5 December 2017, 2 January 2018, 5 February 2018, 1 March 2018, 2 April 2018, 2 May 2018, 4 June 2018, 28 June 2018, 3 July 2018, 2 August 2018, 3 September 2018, 1 October 2018, 1 November 2018, 3 December 2018, 4 December 2018, 2 January 2019, 31 January 2019, 1 March 2019, 27 March 2019, 1 April 2019 and 3 April 2019 respectively.


Reference is made to the Announcement dated 3 April 2019 in compliance with Paragraph 4.1 of Practice Note 17 ("PN17") of the Main Market Listing Requirements ("Main LR") of the Bursa Malaysia Securities Berhad ("Bursa Securities") wherein the Company had submitted an appeal ("Appeal") to the Bursa Securities against the de-listing of the securities of the Company within the Appeal Timeframe against the commencement of the de-Listing procedures on the securities of the Company as well to seek for Bursa Securities' reconsideration on the rejection and to approve a further extension of time of six (6) months from the date of the decision of the Bursa Securities dated 27 March 2019 to submit a Regularisation Plan to the Bursa Securities.


The Board of Directors of the Company hereby announce that the Bursa Securities had vide its letter dated 16 May 2019, informed that after due consideration of all facts and circumstances of the matter including the oral representations on 18 April 2019 and written representations, Bursa Malaysia Securities Berhad (“Bursa Securities”) has decided to:-


(a) dismiss the Company's appeal for an extension of time of six (6) months from the date of decision of Bursa Securities to submit a regularisation plan to the relevant authorities; and

(b) de-list the securities of the Company from the Official List of Bursa Securities pursuant to paragraph 8.04 of the Main LR.


The securities of the Company will be removed from the Official List of Bursa Securities upon the expiry of two (2) market days from the date hereof, i.e. on Thursday, 23 May 2019.

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 of 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 03-20347000 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.


This Announcement is dated 17 May 2019.

Announcement Info

Stock Name STONE
Date Announced 16 May 2019
Category General Announcement for PLC
Reference Number GA1-16052019-00128