On behalf of the Board of Directors of DMB, Hong Leong Investment Bank Berhad wishes to announce that Bursa Securities has, via its letter dated 19 March 2021, decided to grant the Company an extension of time up to 17 March 2021 in view that the Company has submitted the regularisation plan to Bursa Securities on 17 March 2021.
The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of DMB and to de-list the Company in the event:
(i) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; and
(ii) 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) and (ii) above, Bursa Securities shall suspend the trading of the listed securities of DMB 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.
Reference is made to the Company’s announcements dated 31 December 2020, 25 February 2021 and 17 March 2021 in relation to the Proposed Regularisation Plan (“Announcements”). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the aforesaid Announcements.
On behalf of the Board, HLIB wishes to announce that the High Court of Malaya has granted DMB leave to convene a meeting with the DMB Scheme Creditors for the purpose of considering and approving the proposed DMB SOA.
Surely bad is more than good... Always buying PN17 stock must take RISK... If good u r LUCKY If bad just accept it...or Faster sell out next early next week. Don blame others.
KUALA LUMPUR ( 16 March 2021 ) : Daya Materials Bhd today inked a series of agreements as part of its debt restructuring scheme, following the approval in principle from its creditors in July last year. The Practice Note 17 company, in a bourse filing, said it signed seven supplemental agreements and two debt settlement agreements with its creditors. The creditors comprise Malayan Banking Bhd, United Overseas Bank (M) Bhd, RHB Bank Bhd, Hong Leong Bank Bhd, Al Rajhi Banking & Investment Corp (M) Bhd, Public Islamic Bank Bhd, Propel Global Bhd, Export-Import Bank of Malaysia Bhd, and Siem Offshore Rederi AS. “All the defaulted debts will be restructured and settled in accordance with the respective agreements,” the oil and gas services group said. The debt restructuring was part of a regularisation plan that Daya Materials had to submit to regulators by the end of September 2020, following a series of defaults in 2019. Daya Materials slipped into PN17 status in February 2019, after its shareholder equity fell below 25% of its issued capital of RM40 million. At end-2020, Daya Materials had net liabilities of RM197.79 million, with retained losses of RM478.82 million. Overall, the group’s capital deficiency stood at RM199.34 million. Shares of Daya Materials rose one sen to close at two sen, giving the group a market capitalisation of RM40.86 million.
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Fklim888
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Posted by Fklim888 > 2021-03-17 20:31 | Report Abuse
wow... another great news exit PN17 soon.