VIZTEL - General Announcement
Announcement Type: General Announcement
Company Name: VIZTEL SOLUTIONS BERHAD (ACE Market)
Stock Name: VIZTEL
Date Announced: 24/06/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: VIZTEL SOLUTIONS BERHAD OR("THE COMPANY")
LETTER FROM MULTIMEDIA DEVELOPMENT CORPORATION SDN. BHD. ("MDEC") ON MSC STATUS LOCATION
Contents: The Board of Directors ("Board") of Viztel Solutions Berhad wishes to announce that the Company has received a letter from Multimedia Development Corporation Sdn. Bhd. ("MDeC") dated 21 June 2010 to request for clarification on the status of the principal place of business for the Company in an MSC designated Cybercity/Cybercentre.
The letter details:
i. As per the Conditions of Grant ("Conditions of Grant") of MSC Malaysia Status ("MSC-Status") dated 24 April 2000 in section A. (ii) of the Conditions of the Grant, which provides that, the MSC Malaysia Status Company hereby agrees to: "locate the MSC Malaysia Company's headquarters and principal place of business and/or the operation of the MSC-qualifying Activities within MSC-designated cybercities �?�;"
ii. To note that the Company has failed to comply with the Conditions of Grant, in particular by failing to maintain its location within any of the MSC designated Cybercity/Cybercentre.
iii. To request for a written reply on the Company details of its relocation back to any of the MSC designated Cybercity/Cybercentre within thirty (30) days from the date of the letter.
iv. To notify that in the event of MDeC not receiving a written reply or in MDeC's sole discretion are not completely satisfied with reasons for the non-compliance, MDeC will proceed with all necessary actions including but not limiting to taking all such steps to revoke the MSC Malaysia Status of the Company.
The Board will officially respond to the letter for an extension of time for the relocation back to any of the MSC designated Cybercity/Cybercentre.
This announcement is dated 24 June 2010.
Company Name: VIZTEL SOLUTIONS BERHAD (ACE Market)
Stock Name: VIZTEL
Date Announced: 24/06/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: VIZTEL SOLUTIONS BERHAD OR("THE COMPANY")
LETTER FROM MULTIMEDIA DEVELOPMENT CORPORATION SDN. BHD. ("MDEC") ON MSC STATUS LOCATION
Contents: The Board of Directors ("Board") of Viztel Solutions Berhad wishes to announce that the Company has received a letter from Multimedia Development Corporation Sdn. Bhd. ("MDeC") dated 21 June 2010 to request for clarification on the status of the principal place of business for the Company in an MSC designated Cybercity/Cybercentre.
The letter details:
i. As per the Conditions of Grant ("Conditions of Grant") of MSC Malaysia Status ("MSC-Status") dated 24 April 2000 in section A. (ii) of the Conditions of the Grant, which provides that, the MSC Malaysia Status Company hereby agrees to: "locate the MSC Malaysia Company's headquarters and principal place of business and/or the operation of the MSC-qualifying Activities within MSC-designated cybercities �?�;"
ii. To note that the Company has failed to comply with the Conditions of Grant, in particular by failing to maintain its location within any of the MSC designated Cybercity/Cybercentre.
iii. To request for a written reply on the Company details of its relocation back to any of the MSC designated Cybercity/Cybercentre within thirty (30) days from the date of the letter.
iv. To notify that in the event of MDeC not receiving a written reply or in MDeC's sole discretion are not completely satisfied with reasons for the non-compliance, MDeC will proceed with all necessary actions including but not limiting to taking all such steps to revoke the MSC Malaysia Status of the Company.
The Board will officially respond to the letter for an extension of time for the relocation back to any of the MSC designated Cybercity/Cybercentre.
This announcement is dated 24 June 2010.
ASDION - General Announcement
Announcement Type: General Announcement
Company Name: ASDION BERHAD (ACE Market)
Stock Name: ASDION
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: ASDION BERHAD ("ASDION" or "the Company")
ACQUISITION OF 100% EQUITY INTEREST IN QUIPMART SDN BHD AND ITS WHOLLY-OWNED SUBSIDIARY, HOT SCREEN SDN BHD, FOR A TOTAL CASH CONSIDERATION OF RM950,000
Contents: .
Company Name: ASDION BERHAD (ACE Market)
Stock Name: ASDION
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: ASDION BERHAD ("ASDION" or "the Company")
ACQUISITION OF 100% EQUITY INTEREST IN QUIPMART SDN BHD AND ITS WHOLLY-OWNED SUBSIDIARY, HOT SCREEN SDN BHD, FOR A TOTAL CASH CONSIDERATION OF RM950,000
Contents: .
TDEX - TECHNODEX BHD. ("TDEX" OR "THE COMPANY") - NOTICE OF EXTRAORDINARY GENERAL MEETING
Announcement Type: General Announcement
Company Name: TECHNODEX BHD (ACE Market)
Stock Name: TDEX
Date Announced: 24/06/2010
Announcement Detail:
Admission Sponsor: AmInvestment Bank Bhd
Sponsor: Kenanga Investment Bank Bhd
Type: Announcement
Subject: TECHNODEX BHD. ("TDEX" OR "THE COMPANY")
- NOTICE OF EXTRAORDINARY GENERAL MEETING
Contents: NOTICE IS HEREBY GIVEN that the Extraordinary General Meeting ("EGM") of the Company will be held at Tioman Room, First Floor, Bukit Jalil Golf & Country Resort, Jalan 3/155B, Bukit Jalil, 57000 Kuala Lumpur on Monday, 12 July 2010 at 10.30 a.m. or adjournment thereof, for the purpose of considering and if thought fit, passing the resolution as stipulated in the notice of EGM as attached herewith for your attention.
This announcement is dated 24 June 2010.
Attachments: TDEX EGM Notice.pdf
Company Name: TECHNODEX BHD (ACE Market)
Stock Name: TDEX
Date Announced: 24/06/2010
Announcement Detail:
Admission Sponsor: AmInvestment Bank Bhd
Sponsor: Kenanga Investment Bank Bhd
Type: Announcement
Subject: TECHNODEX BHD. ("TDEX" OR "THE COMPANY")
- NOTICE OF EXTRAORDINARY GENERAL MEETING
Contents: NOTICE IS HEREBY GIVEN that the Extraordinary General Meeting ("EGM") of the Company will be held at Tioman Room, First Floor, Bukit Jalil Golf & Country Resort, Jalan 3/155B, Bukit Jalil, 57000 Kuala Lumpur on Monday, 12 July 2010 at 10.30 a.m. or adjournment thereof, for the purpose of considering and if thought fit, passing the resolution as stipulated in the notice of EGM as attached herewith for your attention.
This announcement is dated 24 June 2010.
Attachments: TDEX EGM Notice.pdf
CITIGRP-C3 - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: CITIGRP-C3 : CW CITIGROUP INC. (OSK)
Stock Name: CITIGRP-C3
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C3") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
Contents: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C3") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: CITIGRP-C3 : CW CITIGROUP INC. (OSK)
Stock Name: CITIGRP-C3
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C3") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
Contents: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C3") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
CITIGRP-C4 - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: CITIGRP-C4 : CW CITIGROUP INC. (OSK)
Stock Name: CITIGRP-C4
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C4") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
Contents: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C4") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: CITIGRP-C4 : CW CITIGROUP INC. (OSK)
Stock Name: CITIGRP-C4
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C4") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
Contents: ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER COMMON STOCKS OF CITIGROUP INC. ("CITIGRP") ("CITIGRP-C4") PURSUANT TO THE PROPOSED REVERSE STOCK SPLIT AT ONE OF THE SEVEN REVERSE SPLIT RATIOS, 1-FOR-2, 1-FOR-5, 1-FOR-10, 1-FOR-15, 1-FOR-20, 1-FOR-25 OR 1-FOR-30, AS DETERMINED BY THE BOARD OF DIRECTORS OF CITIGRP ("REVERSE STOCK SPLIT")
MYETFDJ - MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 24-06-2010
Announcement Type: General Announcement
Company Name: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25
Stock Name: MYETFDJ
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 24-06-2010
Contents: Fund:MYETFDJ
NAV per unit (RM):0.8316
Units in Circulation (units):789,500,000
Manager's Fee (%p.a):0.40
Trustee's Fee (%p.a):0.05
License Fee (%p.a):0.04
DJIM25 Index:751.55
Attachments: Daily Fund Values 240610.pdf
Company Name: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25
Stock Name: MYETFDJ
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 24-06-2010
Contents: Fund:MYETFDJ
NAV per unit (RM):0.8316
Units in Circulation (units):789,500,000
Manager's Fee (%p.a):0.40
Trustee's Fee (%p.a):0.05
License Fee (%p.a):0.04
DJIM25 Index:751.55
Attachments: Daily Fund Values 240610.pdf
PMHLDG - PAN MALAYSIA HOLDINGS BERHAD (THE "COMPANY") TWENTY-SEVENTH ANNUAL GENERAL MEETING ("27TH AGM")
Announcement Type: General Announcement
Company Name: PAN MALAYSIA HOLDINGS BERHAD
Stock Name: PMHLDG
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: PAN MALAYSIA HOLDINGS BERHAD (THE "COMPANY")
TWENTY-SEVENTH ANNUAL GENERAL MEETING ("27TH AGM")
Contents: The Company wishes to announce that at its 27th AGM held today, 24 June 2010, the shareholders of the Company approved all the resolutions and special businesses as set out in the Notice of the 27th AGM dated 2 June 2010.
Company Name: PAN MALAYSIA HOLDINGS BERHAD
Stock Name: PMHLDG
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: PAN MALAYSIA HOLDINGS BERHAD (THE "COMPANY")
TWENTY-SEVENTH ANNUAL GENERAL MEETING ("27TH AGM")
Contents: The Company wishes to announce that at its 27th AGM held today, 24 June 2010, the shareholders of the Company approved all the resolutions and special businesses as set out in the Notice of the 27th AGM dated 2 June 2010.
SCIENTX - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: SCIENTEX BERHAD
Stock Name: SCIENTX
Date Announced: 24/06/2010
Announcement Detail:
Date of buy back: 24/06/2010
Description of shares purchased: Ordinary Shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 100
Minimum price paid for each share purchased ($$): 1.480
Maximum price paid for each share purchased ($$): 1.480
Total consideration paid ($$): 189.05
Number of shares purchased retained in treasury (units): 100
Cumulative net outstanding treasury shares as at to-date (units): 14,596,462
Adjusted issued capital after cancellation (no. of shares) (units): 230,000,000
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 6.35
Company Name: SCIENTEX BERHAD
Stock Name: SCIENTX
Date Announced: 24/06/2010
Announcement Detail:
Date of buy back: 24/06/2010
Description of shares purchased: Ordinary Shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 100
Minimum price paid for each share purchased ($$): 1.480
Maximum price paid for each share purchased ($$): 1.480
Total consideration paid ($$): 189.05
Number of shares purchased retained in treasury (units): 100
Cumulative net outstanding treasury shares as at to-date (units): 14,596,462
Adjusted issued capital after cancellation (no. of shares) (units): 230,000,000
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 6.35
PMCAP - PAN MALAYSIA CAPITAL BERHAD (THE "COMPANY") TWENTY-EIGHTH ANNUAL GENERAL MEETING ("28th AGM")
Announcement Type: General Announcement
Company Name: PAN MALAYSIA CAPITAL BERHAD
Stock Name: PMCAP
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: PAN MALAYSIA CAPITAL BERHAD (THE "COMPANY")
TWENTY-EIGHTH ANNUAL GENERAL MEETING ("28th AGM")
Contents: The Company wishes to announce that at its 28th AGM held today, the shareholders of the Company approved all the resolutions and special businesses as set out in the Notice of the 28th AGM dated 2 June 2010.
Company Name: PAN MALAYSIA CAPITAL BERHAD
Stock Name: PMCAP
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: PAN MALAYSIA CAPITAL BERHAD (THE "COMPANY")
TWENTY-EIGHTH ANNUAL GENERAL MEETING ("28th AGM")
Contents: The Company wishes to announce that at its 28th AGM held today, the shareholders of the Company approved all the resolutions and special businesses as set out in the Notice of the 28th AGM dated 2 June 2010.
LUSTER - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: PUBLIC INVESTMENT BANK BERHAD
Company Name: LUSTER INDUSTRIES BHD.
Stock Name: LUSTER
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: LUSTER INDUSTRIES BHD ("LIB" OR "COMPANY")
- PROPOSED CAPITAL REDUCTION;
- PROPOSED SHARE PREMIUM REDUCTION;
- PROPOSED SHARE SPLIT;
- PROPOSED DEBT SETTLEMENT;
- PROPOSED RIGHTS ISSUE;
- PROPOSED PLACEMENT;
- PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
- PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Contents: We refer to the announcements dated 7 July 2009, 17 September 2009, 24 September 2009, 11 February 2010 and 4 March 2010 in relation to the Proposals. Public Investment Bank Berhad, on behalf of the Board of Directors of LIB ("Board"), wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had via its letter dated 24 June 2010 ("Decision Letter"), decided to require LIB to submit a revised regularisation plan that will satisfactorily address both the financial condition and level of operations of the Company, within three (3) months from the date of the Decision Letter i.e. by 24 September 2010 ("Extended Timeframe").
In the event:-
(1) the Company submits its revised regularisation plan to the Approving Authorities for approval within the Extended Timeframe, Bursa Securities will await the outcome of the Company's submission; and
(2) the Company fails to obtain the Approving Authorities' approval and appeals against the decision of the Approving Authorities, Bursa Securities will await the outcome of the Company's appeal to the Approving Authorities.
The Company must proceed to implement its revised regularisation plan expeditiously within the timeframe or extended timeframes stipulated by the Approving Authorities in the event it obtains all Approving Authorities' approval necessary for the implementation of its revised regularisation plan.
Bursa Securities further decided that the aforesaid extension of time is without prejudice to Bursa Securities' right to exercise its powers under paragraph 8.04(1) and (2) of the Main Market Listing Requirements of Bursa Securities ("LR") to proceed to de-list the securities of the Company in the event:-
(i) the Company fails to submit the revised regularisation plan to the Approving Authorities for approval within the Extended Timeframe;
(ii) the Company fails to obtain the approval from any of the Approving Authorities necessary for the implementation of its revised regularisation plan and does not appeal to the Approving Authorities within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;
(iii) the Company does not succeed in its appeal against the decision of the Approving Authorities; or
(iv) the Company fails to implement its revised regularisation plan within the timeframe or extended timeframes stipulated by the Approving Authorities.
Upon occurrence of any of the events set out in (i) to (iv) above, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of seven (7) market days from the date the Company is notified by Bursa Securities or such other date as may be specified by Bursa Securities.
In arriving at the aforesaid decision, Bursa Securities had considered, amongst others, the requirement for companies to have an adequate level of financial condition and level of operations serves to ensure that companies listed on the Official List are of a certain minimum quality. Companies that have a minimum level of financial condition and level of operations serve to preserve and sustain market integrity and investors' confidence.
The Board will announce the Company's next course of action in due course.
This announcement is dated 24 June 2010.
Submitting Merchant Bank: PUBLIC INVESTMENT BANK BERHAD
Company Name: LUSTER INDUSTRIES BHD.
Stock Name: LUSTER
Date Announced: 24/06/2010
Announcement Detail:
Type: Announcement
Subject: LUSTER INDUSTRIES BHD ("LIB" OR "COMPANY")
- PROPOSED CAPITAL REDUCTION;
- PROPOSED SHARE PREMIUM REDUCTION;
- PROPOSED SHARE SPLIT;
- PROPOSED DEBT SETTLEMENT;
- PROPOSED RIGHTS ISSUE;
- PROPOSED PLACEMENT;
- PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
- PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Contents: We refer to the announcements dated 7 July 2009, 17 September 2009, 24 September 2009, 11 February 2010 and 4 March 2010 in relation to the Proposals. Public Investment Bank Berhad, on behalf of the Board of Directors of LIB ("Board"), wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had via its letter dated 24 June 2010 ("Decision Letter"), decided to require LIB to submit a revised regularisation plan that will satisfactorily address both the financial condition and level of operations of the Company, within three (3) months from the date of the Decision Letter i.e. by 24 September 2010 ("Extended Timeframe").
In the event:-
(1) the Company submits its revised regularisation plan to the Approving Authorities for approval within the Extended Timeframe, Bursa Securities will await the outcome of the Company's submission; and
(2) the Company fails to obtain the Approving Authorities' approval and appeals against the decision of the Approving Authorities, Bursa Securities will await the outcome of the Company's appeal to the Approving Authorities.
The Company must proceed to implement its revised regularisation plan expeditiously within the timeframe or extended timeframes stipulated by the Approving Authorities in the event it obtains all Approving Authorities' approval necessary for the implementation of its revised regularisation plan.
Bursa Securities further decided that the aforesaid extension of time is without prejudice to Bursa Securities' right to exercise its powers under paragraph 8.04(1) and (2) of the Main Market Listing Requirements of Bursa Securities ("LR") to proceed to de-list the securities of the Company in the event:-
(i) the Company fails to submit the revised regularisation plan to the Approving Authorities for approval within the Extended Timeframe;
(ii) the Company fails to obtain the approval from any of the Approving Authorities necessary for the implementation of its revised regularisation plan and does not appeal to the Approving Authorities within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;
(iii) the Company does not succeed in its appeal against the decision of the Approving Authorities; or
(iv) the Company fails to implement its revised regularisation plan within the timeframe or extended timeframes stipulated by the Approving Authorities.
Upon occurrence of any of the events set out in (i) to (iv) above, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of seven (7) market days from the date the Company is notified by Bursa Securities or such other date as may be specified by Bursa Securities.
In arriving at the aforesaid decision, Bursa Securities had considered, amongst others, the requirement for companies to have an adequate level of financial condition and level of operations serves to ensure that companies listed on the Official List are of a certain minimum quality. Companies that have a minimum level of financial condition and level of operations serve to preserve and sustain market integrity and investors' confidence.
The Board will announce the Company's next course of action in due course.
This announcement is dated 24 June 2010.
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