Bursa Securities has decided to reject Awantec’s application for an extension of time to submit the regularisation plan to the regulatory authorities.
The Exchange said it found the company has not demonstrated to the satisfaction or any material development towards the finalisation and submission of the regularisation plan to the regulatory authorities. Bursa Securities has also issued a notice to show cause dated 16 August 2023 on suspension and de-listing of securities of the Company from the Official List of Bursa Securities informing the company to furnish with the company’s representations, on or before 23 August 2023
It has also requested Awatec to provide explanations as to: a) why a suspension should not be imposed on the trading of the securities of the Company; and b) why the securities of the Company should not be de-listed from the Official List of Bursa Securities.
