Quick take: London Biscuits tumbles 35% after classified PN17
KUALA LUMPUR: London Biscuit Bhd tumbled over 35% this morning after it was classified as an affected listed issuer under Practice Note 17 (PN17).
The confectionery manufacturer tumbled 35.42%, or 8.5 sen to its record low of 15.5 sen, with 39 million shares traded.
London Biscuits became a PN17 company after it defaulted on a debt payment of RM9.83mil to Bank of Nova Scotia Bhd on July 3.
The bank has also not been able to provide a solvency declaration to Bursa.
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