The Board of Directors of Octagon wishes to announce that Bursa Securities has vide its letter dated 19 November 2013 notified the following:
(i) Octagon had failed to submit a Regularisation Plan to Bursa Securities for approval within 12 months from the Company’s First Announcement in accordance with paragraph 8.04(3)(a)(i) of the Main LR, i.e. on or before 7 June 2013;
(ii) Bursa Securities had granted the Company extensions of time until 18 December 2013 to submit its Regularisation Plan to Bursa Securities, subject to the Requisite Announcement being made by 18 October 2013; and
(iii) Octagon had failed to make the Requisite Announcement by 18 October 2013 and Octagon’s application for a further extension of time to make the Requisite Announcement and to submit the Regularisation Plan was rejected, as communicated by Bursa Securities to the Company on 19 November 2013.
In the circumstances and pursuant to paragraph 8.04(5) of the Main LR, Bursa has informed that:
(a) the trading in the securities of the Company will be suspended with effect from 27 November 2013; and
(b) the securities of the Company will be de-listed on 29 November 2013 unless an appeal against the de-listing is submitted to Bursa Securities on or before 26 November 2013 (“the Appeal Timeframe”). Any appeal submitted after the Appeal Timeframe will 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 29 November 2013 shall be deferred pending the decision on the Company’s appeal.
Stock: [OCTAGON]: OCTAGON CONSOLIDATED BHD
2013-11-20 10:32 | Report Abuse
The Board of Directors of Octagon wishes to announce that Bursa Securities has vide its letter dated 19 November 2013 notified the following:
(i) Octagon had failed to submit a Regularisation Plan to Bursa Securities for approval within 12 months from the Company’s First Announcement in accordance with paragraph 8.04(3)(a)(i) of the Main LR, i.e. on or before 7 June 2013;
(ii) Bursa Securities had granted the Company extensions of time until 18 December 2013 to submit its Regularisation Plan to Bursa Securities, subject to the Requisite Announcement being made by 18 October 2013; and
(iii) Octagon had failed to make the Requisite Announcement by 18 October 2013 and Octagon’s application for a further extension of time to make the Requisite Announcement and to submit the Regularisation Plan was rejected, as communicated by Bursa Securities to the Company on 19 November 2013.
In the circumstances and pursuant to paragraph 8.04(5) of the Main LR, Bursa has informed that:
(a) the trading in the securities of the Company will be suspended with effect from 27 November 2013; and
(b) the securities of the Company will be de-listed on 29 November 2013 unless an appeal against the de-listing is submitted to Bursa Securities on or before 26 November 2013 (“the Appeal Timeframe”). Any appeal submitted after the Appeal Timeframe will 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 29 November 2013 shall be deferred pending the decision on the Company’s appeal.