Reference
is made to the announcement dated 27 February 2014 in respect to the
application for an extension of time to submit the Company’s regularisation
plan to the regulatory authorities.
M&A
Securities Sdn Bhd, on behalf of the Board of Directors of Patimas, wishes to
announce that after due consideration of the all facts and circumstances of the
matter, Bursa Securities had vide its letter dated 18 March 2014 decided to:
a) dismiss
the Company’s further appeal for an extension of time until 14 April 2014 to
submit the regularisation plan to the regulatory authorities; and
b) de-list
the securities of the Company from the Official list of Bursa Securities
pursuant to Paragraph 8.04 of Bursa Securities’ Main Market Listing
Requirements.
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 of its letter
i.e. on Friday, 21 March 2014.
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the securities of a company which has been de-listed to be withdrawn from Bursa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 anytime
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 for withdrawal in accordance with the procedures prescribed by
Bursa Depository. Shareholders can contact any Participating Organisation
of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 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
business and proceed with its corporate restructuring and its shareholders can
still be rewarded by the Company’s performance. However, shareholders will
be holding shares which are no longer quoted and traded on Bursa Securities.
This announcement is
dated 18 March 2014.