Probably,the capital has been done in early of appril 2013 by khairul and RC group or shares swap but delay the announcement, as the new mgmt team only came in late appril and RC already indicates his interest early DEC 2012.SOMETHING BIG....is expected. Look at the chronology.
Pursuant to paragraph 8.04 and paragraph 2.1(e) of Practice Note 17 ("PN17") the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities") where the auditors have expressed an emphasis of matter on BIOSIS’ ability to continue as a going concern in the latest audited financial statements, the Board of Directors of BIOSIS wishes to announce that BIOSIS is considered as a PN17 Company.
The PN17 criteria triggered as a result of the Company’s latest unaudited accounts for the financial year ended 31 March 2013 that was announced on 31 May 2013 where the Company’s shareholders’ equity on a consolidated basis is 50% or less of the issued and paid-up capital (“the First Announcement”).
2. OBLIGATIONS OF THE COMPANY PURSUANT TO PN17
Pursuant to paragraph 8.04(3) of the MMLR, BIOSIS is required to comply with the following:
(i) Announce within 3 months from the First Announcement, on whether the regularisation plan will result in a significant change in the business direction or policy of the Company;
(ii) Within 12 months from the date of the First Announcement:
(a) submit a regularisation plan to the Securities Commission ("SC") if the plan will result in a significant change in the business direction or policy of the Company;
(b) submit a regularisation plan to Bursa Securities if the plan will not result in a significant change in business direction or policy of the Company, and obtain Bursa Securities' approval to implement the plan.
(iii) Implement the regularisation plan within the time frame stipulated by the SC or Bursa Securities, as the case may be;
(iv) Announce the status of its regularisation plan and the number of months the end of the relevant time frames referred in paragraphs 5.1 and 5.2 of PN17, as may be applicable, on a monthly basis until further notice from Bursa Securities;
(v) Announce its compliance or non-compliance with a particular obligation imposed pursuant to PN17, on immediate basis;
(vi) Announce the details of the regularisation plan ("Requisite Announcement") and sufficient information to demonstrate that the Company is able to comply with all the requirements set out in paragraph 3.1 of PN17 after implementation of the regularisation plan. The Requisite Announcement must be made by the Company's Principal Adviser; and
(vii) Where the Company fails to regularise its condition, it will announce the dates of suspension and de-lisitng of its listed securities immediately upon notification of suspension and de-lisitng by Bursa Securities.
3. CONSEQUENCES OF NON-COMPLIANCE OF WITH THE OBLIGATIONS
In the event the Company fails to comply with the obligations to regularise its condition, all its listed securities will be suspended from trading on the next market day after five (5) market days from the date of notification of suspension and de-listing by Bursa Securities and de-listing procedures shall be taken against the Company, subject to the Company's right to appeal against de-listing.
4. STATUS OF REGULARISATION PLAN
The Company intends to formulate a regularisation plan to address its PN17 status and this will be announced to Bursa Securities in due course.
its so obvious its panic selling by small fishes and feast time for big sharks. to those who dont understand pls do some research on other pn17 companies.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
lwalk
1,144 posts
Posted by lwalk > 2013-06-27 09:51 | Report Abuse
all i can say is... i've certainly learnt n open eyes to what is goreng share strategy.