Kenyataan Media
AMENDED-PN17: IMPOSITION OF TRADING SUSPENSION AND COMMENCEMENT OF DE-LISTING PROCEDURES AGAINST SELOGA HOLDINGS BERHAD
Bursa Malaysia Securities Berhad (“Bursa Securities”) would like to announce that the trading of the securities of Seloga Holdings Berhad (“SELOGA” or “the Company”), an Amended Practice Note No. 17/2005 (“Amended-PN17”) company will be suspended from 9:00 a.m, Monday, 19 November 2007 pursuant to paragraph 8.14C(5) of the Listing Requirements of Bursa Securities (“Bursa Securities LR”).
The Company had on 7 November 2007 announced that the Securities Commission had vide its letter dated 6 November 2007 rejected the Company’s appeal on its regularization plan. As such, the Company has failed to regularise its financial condition pursuant to paragraph 8.14C of the Bursa Securities LR and no further extension of time has been granted to the Company.
In addition to the imposition of suspension, Bursa Securities has also commenced de-listing procedures against the Company. The Company has been served with a notice by Bursa Securities on 9 November 2007 to make representations to Bursa Securities as to why the Company’s securities should not be de-listed from the Official List of Bursa Securities. Due process is therefore accorded to the Company prior to making a decision on whether to de-list the Company’s securities from the Official List of Bursa Securities.
Upon due consideration of the matter and the conclusion of the relevant due process accorded, Bursa Securities will decide whether to de-list the Company. Where a decision is made to de-list the Company, the Company shall be notified of the same accordingly. Upon receipt of the notification of the decision by Bursa Securities to de-list the Company’s securities from the Official List of Bursa Securities, the Company shall be required to make an immediate announcement. Thereafter, the securities of the Company shall be removed from the Official List of Bursa Securities on a date specified by Bursa Securities.
Status of Amended-PN17 Companies
As at 9 November 2007, there is a total of 25 Amended-PN17 companies which represents 2.51 % of the total number of 997 companies listed on Bursa Securities.