Significant Event – Affected Listed Issuer Status
Pursuant to the Listing Requirements (“LR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) in relation to the Amended Practice Note No. 17/2005 (“PN 17”), the Company had on 20 February 2009 announced that it is deemed an Affected Listed Issuer as defined in PN 17 as the Group and the Company have defaulted in their interest payments as announced in pursuant to Practice Note No. 1/2001 (“PN 1”).
As an Affected Listed Issuer, the Company is required to comply with the following obligations pursuant to paragraph 3.1 (a)(ii) of the Amended PN17:
a) To announce details of the regularisation plan as referred to in paragraph 8.14C(3) of the Listing Requirements and the announcement must fulfil the requirements set out in paragraph 3.1A of the Amended PN17/2005;
b) To submit the regularisation plan to Bursa Securities and other relevant authorities (“Approving Authorities”), for approval within eight months from the date of the announcement; and to implement the regularisation plan within the time frame stipulated by the relevant Approving Authority;
c) To announce the status of its plan to regularise its condition and the number of months to the relevant timeframes referred thereto, as may be applicable, on a monthly basis until further notice from Bursa Securities; and
d) To announce its compliance or non-compliance with a particular obligation imposed pursuant to the Amended PN17/2005 on an immediate basis.
In the event that the Company fails to comply with the obligation to regularise its condition, all its listed securities shall be suspended from trading from the 5th market day after the submission time frame or implementation time frame, as the case may be, and delisting procedures shall be taken against the Company by Bursa Securities.