Unless
otherwise stated, abbreviations and definitions used throughout this announcement
shall be the same as those previously announced.
Reference is made to the
Company's First Announcement of 17 May 2012 and to the subsequent announcements
of 17 August 2012, 22 August 2012, 13 September 2012, 21 September 2012 and 1
October 2012.
The Company had on 17 August 2012 announced that the Company
had applied to Bursa Malaysia Securities Berhad ("Bursa Securities") seeking an
extension of time to appoint a Sponsor. On 22 August 2012, the Company announced
that Bursa Securities had on 17 August 2012 responded to say that the suspension
on the trading of the Company's securities and the de-listing of the Company pursuant
to Rule 8.04 of the ACE LR shall be deferred pending the decision on the Company's
application for extension of time to appoint a Sponsor.
The Company had
on 13 September 2012 announced that Bursa Securities had rejected the Company's
application for extension of time to appoint a Sponsor and further announced that
in the circumstances and pursuant to Rule 8.04(5) of the ACE LR:-
(i) The
trading in the securities of the Company will be suspended with effect from 24
September 2012;
(ii) The securities of the Company will be de-listed on 26
September 2012 unless an appeal is submitted to Bursa Securities on or before
21 September 2012 ("Appeal Timeframe"). Any appeal submitted
after the Appeal Timeframe will not be considered by Bursa Securities; and
(iii)
In the event that the Company submits an appeal to Bursa Securities within the
Appeal Timeframe, the removal of the securities of the Company from the Official
List of Bursa Securities on 26 September 2012 shall be deferred pending the decision
on the Company's appeal.
The Company had on 21 September 2012
announced that the Company had submitted an appeal to Bursa Securities against
the suspension and de-listing of the securities of the Company. Given that the
appeal was submitted by the Company within the Appeal Timeframe, the removal of
the securities of the Company from the Official List of Bursa Securities on 26
September 2012 was deferred pending the decision from Bursa Securities.
KAF
IB was appointed as the Company¡¯s Sponsor on 21 September 2012. On
behalf of the Board and in relation to the announcement of 1 October 2012, we
wish to clarify that the Company's appeal to Bursa Securities against
the suspension and de-listing of the securities of the Company is still pending
the decision from Bursa Securities. Based on the circumstances above, the Company's
obligation for submission of the Regularisation Plan to the relevant authorities
for approval by 16 May 2013 is not applicable any more, pending the decision from
Bursa Securities.
This announcement is dated 2 October 2012.
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