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Practice Note 17 / Guidance Note 3 : Others
BackOct 21, 2024
| Type | Announcement |
| Subject | PRACTICE NOTE 17 / GUIDANCE NOTE 3 OTHERS |
| Description | REACH ENERGY BERHAD ("REB" OR THE "COMPANY") APPLICATION FOR AN EXTENSION OF TIME TO SUBMIT A REGULARISATION PLAN TO THE RELEVANT AUTHORITIES TO REGULARISE THE FINANCIAL CONDITION OF REB PURSUANT TO PRACTICE NOTE 17 OF THE MAIN MARKET LISTING REQUIREMENRS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS") |
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(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 3 April 2023 and 4 April 2023 in relation to the classification of the Company as an affected listed issuer under PN17, where applicable, unless stated otherwise or defined herein)
Reference is made to the announcement dated 18 September 2024 in relation to the application to Bursa Securities for an extension of time up to 2 April 2025 for the Company to submit a regularisation plan to the relevant authorities. On behalf of the Board of Directors of REB, TA Securities Holdings Berhad wishes to announce that Bursa Securities had vide its letter dated 18 October 2024 resolved to grant the Company a further extension of time of 6 months up to 2 April 2025 to submit its regularisation plan to the relevant regulatory authorities for approval. The extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of the Company and to de-list the Company in the event: (i) the Company fails to submit its regularisation plan to the relevant regulatory authorities on or before 2 April 2025; (ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or (iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities. Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of the Company on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting. This announcement is dated 21 October 2024. |
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Announcement Info
| Company Name | REACH ENERGY BERHAD |
| Stock Name | REACH |
| Date Announced | 21 Oct 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21102024-00008 |