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PRACTICE NOTE 16 / GUIDANCE NOTE 2 : OTHERS

SCGM BHD

Type Announcement
Subject PRACTICE NOTE 16 / GUIDANCE NOTE 2
OTHERS
Description
SCGM BHD ("SCGM" OR THE "COMPANY")

APPLICATION FOR EXTENSION OF TIME TO SUBMIT THE PROPOSED REGULARISATION PLAN

Reference is made to the Company’s announcements made on 2 September 2022, 4 October 2022, 28 December 2022, 29 March 2023, 30 June 2023, 21 August 2023, 29 September 2023, 5 October 2023, 21 December 2023, 22 February 2024 and 27 February 2024 (“Announcements”). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Announcements.

 

On behalf of the Board of Directors of SCGM, Inter-Pacific Securities Sdn Bhd wishes to announce that Bursa Securities has, vide its letter dated 16 April 2024, resolved to grant the Company a further extension of time of 6 months up to 1 September 2024 to submit its regularisation plan to the regulatory authorities.

 

The aforesaid approval is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of SCGM and to de-list the Company in the event:-

 

(i)         the Company fails to submit its regularisation plan to the regulatory authorities on or before 1 September 2024;

 

(ii)        the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

 

(iii)       the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

 

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities may suspend the trading of the listed securities of SCGM on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.

 

 

This announcement is dated 17 April 2024.






Announcement Info

Company Name SCGM BHD
Stock Name SCGM
Date Announced 17 Apr 2024
Category General Announcement for PLC
Reference Number GA1-17042024-00015



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