Kenyataan Media
GN 3 : EB CAPITAL BERHAD TO BE DE-LISTED
Bursa Malaysia Securities Berhad (“Bursa Securities”) would like to announce that the securities of EB Capital Berhad (“EBCAP” or “the Company”), a Guidance Note No. 3/2006 (“GN3”) company will be de-listed on 24 December 2008.
Bursa Securities had earlier announced on 27 May 2008 its decision to grant EBCAP an extension of time until 15 July 2008 to submit the Company’s regularisation plans to the Securities Commission and other relevant authorities (“the Approving Authorities”) for approval.
It was also decided that if any of the events set out below occurs, the securities of EBCAP shall be removed from the Official List of Bursa Securities upon the expiry of seven (7) market days from the date the Company is notified by Bursa Securities or such other date as may be specified by Bursa Securities:-
- the Company fails to submit the regularisation plans to the Approving Authorities for approval by 15 July 2008;
- the Company fails to obtain the approval from any of the Approving Authorities necessary for the implementation of its regularisation plans and does not appeal to the Approving Authorities within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;
- the Company does not succeed in its appeal against the decision of the Approving Authorities; or
- the Company fails to implement its regularisation plans within the timeframe or extended timeframes stipulated by the Approving Authorities.
The Securities Commission had via letter dated 11 November 2008 rejected the Company’s regularisation plan and the Company had on 10 December 2008 announced that the Company decided not to appeal against the decision of the Securities Commission.
In the circumstances and in accordance with Bursa Securities’ earlier decision, the securities of EBCAP will be removed from the Official List of Bursa Securities at 9.00 am on Wednesday, 24 December 2008 unless an appeal is made to Bursa Securities within 5 market days from the date hereof ie. by 19 December 2008 (“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 removal of the securities of the Company from the Official List of Bursa Securities on 24 December 2008 shall be deferred pending the decision on the Company’s appeal by the Appeals Committee.
Effect of De-listing from the Official List of Bursa Securities
With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.
Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at anytime after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities General Line at 03-2034 7000 for further information on the withdrawal procedure.
Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and businesses and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company's performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.