Bursa Malaysia Securities Bhd has publicly reprimanded Hytex Integrated Bhd for failing to make an immediate announcement on the various defaults in payment of credit facilities by it and its major units, as set out in the company's announcement dated Aug 16, 2011.
In a statement today, Bursa Malaysia said Hytex breached paragraphs 9.03(1) and 9.04(l) of the Bursa Securities Main Market Listing Requirements (Main Market LR) read together with paragraphs 2.1(d) and (e) of Practice Note 1 (PN1).
It said the public reprimand was imposed pursuant to paragraph 16.19(1) of the Main Market LR after taking into consideration all facts and circumstances of the matter, including the fact that Hytex has previously breached the listing requirements and upon completion of due process.
"While we have not made a finding that any of the company's directors caused or permitted the breach, nevertheless, we wish to highlight that it is the responsibility of directors of listed companies to ensure the compliance with the Main Market LR," it said. -- Bernama
In a statement today, Bursa Malaysia said Hytex breached paragraphs 9.03(1) and 9.04(l) of the Bursa Securities Main Market Listing Requirements (Main Market LR) read together with paragraphs 2.1(d) and (e) of Practice Note 1 (PN1).
It said the public reprimand was imposed pursuant to paragraph 16.19(1) of the Main Market LR after taking into consideration all facts and circumstances of the matter, including the fact that Hytex has previously breached the listing requirements and upon completion of due process.
"While we have not made a finding that any of the company's directors caused or permitted the breach, nevertheless, we wish to highlight that it is the responsibility of directors of listed companies to ensure the compliance with the Main Market LR," it said. -- Bernama
