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Practice Note 17 / Guidance Note 3 : Suspension And/Or Delisting

BackApr 15, 2025
Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
SUSPENSION AND/OR DELISTING
Description REACH ENERGY BERHAD ("REB" or "the Company")

SUSPENSION AND DE-LISTING OF THE SECURITIES OF REACH ENERGY BERHAD

Reference is made to the Company’s First Announcements dated 3 April and 4 April 2023, subsequent monthly announcements and the Company’s announcement dated 27 June 2023,19 March 2024, 17 April 2024,18 September 2024, 21 October 2024, 19 March 2025 and 2 April 2025 in relation to the classification of the Company as an affected listed issuer under PN17. Unless otherwise defined, the definitions set out in the First Announcement shall apply therein.

 

The Board of Directors of the Company wishes to announce that the Bursa Securities has vide its letter dated 14 April 2025, rejected the Company's application for a further extension of time to submit its regularisation plan.

 

In the circumstances and pursuant to paragraph 8.04(5) of the Main LR, please be informed that: -  

 

  1. the trading in the securities of REACH will be suspended with effect from 22 April 2025; and
  2.  the securities of the Company will be de-listed on 24 April 2025 unless an appeal against the de-listing is submitted to Bursa Securities on or before 21 April 2025 (“the Appeal Timeframe”). Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities.

In the event the Company submits an appeal to Bursa Securities within the Appeal Timeframe, the de-listing of the securities of the Company from the Official List of Bursa Securities on 24 April 2025 will be deferred pending the decision on the Company’s appeal. However, Bursa Securities will proceed to suspend the trading of the Company’s securities on 22 April 2025 even though the decision on the Company’s appeal is still pending.

 

Further development on the suspension and de-listing of the securities of the Company will be announced by the Company in due course. 

 

This announcement is dated 15 April 2025.


Announcement Info

Company Name REACH ENERGY BERHAD
Stock Name REACH
Date Announced 15 Apr 2025
Category General Announcement for PLC
Reference Number GA1-15042025-00020

Reach Energy was incorporated in Malaysia under the Companies Act 1965 as a private limited company on 7 February 2013 under the name of Reach Energy Sdn Bhd. On 2 August 2013 our company converted into a public company and was renamed as Reach Energy Berhad.



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