(Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as those given to them in the initial announcements made on 30 November 2021, 10 December 2021, 1 June 2023 and 2 June 2023.)
Reference is made to TXB’s announcements made on 1 June 2023 and 2 June 2023, the Board of Directors of TXB wishes to clarify that TXB has re-assessed its PN17 condition, TXB no longer triggers any of the PN17 Suspended Criteria and any of the criteria in relation to the financial condition of a listed issuer as set out in Paragraph 2.1 of the PN17 as follows: -
| Paragraph 2.1 of PN17 |
Criteria |
Status |
| 2.1(a) |
The shareholders’ equity of the listed issuer on a consolidated basis is 25% or less of the share capital (excluding treasury shares) of the listed issuer and such shareholders’ equity is less than RM40 million |
Based on the latest quarterly report on consolidated results for the financial period ended 31 March 2023 as announced on 30 May 2023, the shareholders’ equity has increased from RM35.16 million as at 30 September 2021 to RM42.36 million as at 31 March 2023.
Although the ratio of the shareholders’ equity to share capital on a consolidated basis as at 31 March 2023 is 3.46%, the amount of the shareholders’ equity has exceeded the minimum threshold of RM40 million.
|
| 2.1(b) |
Receivers or managers, or judicial managers have been appointed over the asset of the listed issuer, its subsidiary or associated company which asset accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis |
Not applicable.
There has been no appointment of receivers or managers or judicial managers over the assets of the Company or its subsidiaries or associated companies.
|
| 2.1(c) |
A winding up of a listed issuer’s subsidiary or associated company which accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis |
Not applicable.
There has been no winding up of any of the Company’s subsidiaries or associated companies.
|
| 2.1(d) |
The auditors have expressed an adverse or disclaimer opinion in the listed issuer’s latest audited financial statements |
Not applicable.
The latest audited financial statements for the financial year ended 31 December 2022 were not subject to adverse or disclaimer opinion from the auditors.
|
| 2.1(e) |
The auditors have highlighted a material uncertainty related to going concern or expressed a qualification on the listed issuer’s ability to continue as a going concern in the listed issuer’s latest audited financial statements and the shareholders’ equity of the listed issuer on a consolidated basis is 50% or less of share capital (excluding treasury shares) of the listed issuer |
Not applicable.
The latest audited financial statements for the financial year ended 31 December 2022 were not subject to any material uncertainty related to going concern or qualified opinion from the auditors.
|
| 2.1(f) |
A default in payment by a listed issuer, its major subsidiary or major associated company, as the case may be, as announced by a listed issuer pursuant to paragraph 9.19A of the Listing Requirements and the listed issuer is unable to provide a solvency declaration to the Exchange |
Not applicable.
There has been no default in payment by the Company or any of its major subsidiaries or major associated companies.
|
In light of the above, the Company will not be classified as a PN17 listed issuer.
This announcement is dated 6 June 2023.