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PRACTICE NOTE 17 / GUIDANCE NOTE 3 : REGULARISATION PLAN

ZELAN BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
REGULARISATION PLAN
Description
ZELAN BERHAD ("ZELAN" OR THE "COMPANY")

APPLICATION FOR AN EXTENSION OF TIME TO SUBMIT A REGULARISATION PLAN ("EOT APPLICATION")

We refer to the announcement made on 29 March 2024 in relation to the EOT Application (“Announcement”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcement.

 

On behalf of the Company, Kenanga Investment Bank Berhad wishes to announce that Bursa Securities had, via its letter dated 2 May 2024, resolved to grant the Company an extension of time of 6 months up to 31 October 2024 to submit its regularisation plan to the relevant regulatory authorities for approval.

 

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

 

(i) the Company fails to submit its regularisation plan to the relevant regulatory authorities on or before 31 October 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 shall suspend the trading of the listed securities of Zelan 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 2 May 2024.






Announcement Info

Company Name ZELAN BERHAD
Stock Name ZELAN
Date Announced 02 May 2024
Category General Announcement for PLC
Reference Number GA1-02052024-00110



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