KUALA LUMPUR (Feb 2): Trading of MAXBIZ CORPORATION BHD []’s securities faces the threat of suspension from Feb 14 unless it can submit an appeal before Feb 13.
A Bursa Malaysia Securities circular said on Thursday that Maxbiz failed to submit its regularisation plan to the Securities Commission or Bursa Securities Bhd for approval within the timeframe stipulated.
Maxbiz, could still however, submit an appeal to Bursa Securities on or before Feb 13.
Any appeal submitted after the appeal timeframe would 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 Feb 16, shall be deferred pending the decision on the company’s appeal,” it said.
Bursa Securities said upon the de-listing, the company would continue to exist but as an unlisted entity.
“The company is still able to continue its operations and business 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,” it said.
A Bursa Malaysia Securities circular said on Thursday that Maxbiz failed to submit its regularisation plan to the Securities Commission or Bursa Securities Bhd for approval within the timeframe stipulated.
Maxbiz, could still however, submit an appeal to Bursa Securities on or before Feb 13.
Any appeal submitted after the appeal timeframe would 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 Feb 16, shall be deferred pending the decision on the company’s appeal,” it said.
Bursa Securities said upon the de-listing, the company would continue to exist but as an unlisted entity.
“The company is still able to continue its operations and business 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,” it said.
