SUSPENSION AND DE-LISTING OF THE SECURITIES OF BARAKAH OFFSHORE PETROLEUM BERHAD

Bursa Malaysia Securities Berhad ("Bursa Securities") had rejected BARAKAH's application for a further extension of time to submit its regularisation plan. 

In the circumstances and pursuant to paragraph 8.04(5) of the Main LR: -

(1) the trading in the securities of BARAKAH will be suspended with effect from 30 May 2025; and

(2) the securities of the Company will be de-listed on 4 June 2025 unless an appeal against the de-listing is submitted to Bursa Securities on or before 29 May 2025 (“the Appeal Timeframe”). Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities.

In the event the Company submits an appeal to Bursa Securities within the Appeal Timeframe, the de-listing of the securities of the Company from the Official List of Bursa Securities on 4 June 2025 will be deferred pending the decision on the Company’s appeal. However, Bursa Securities will proceed to suspend the trading of the Company’s securities on 30 May 2025 even though the decision on the Company’s appeal is still pending.

With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn. Bhd. (“Bursa Depository”), the securities will be withdrawn from Bursa Depository by the Company upon the de-listing of the securities from the Official List of Bursa Securities. The Company will continue to update and maintain the shareholders’ information in their Register.

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 business 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. The interests and rights of the shareholders will remain safeguarded under the Companies Act 2016.