Serba Dinamik has announced that Bursa Malaysia Securities Berhad has rejected its application for a further extension of time to submit its regularisation plan, in view of this the trading in the securities will remain suspended with effect from 24 August 2023; and the securities of the Company will be de-listed on 28 August 2023 unless an appeal against the de-listing is submitted to Bursa Securities on or before 23 August 2023.
Bursa also said any appeal submitted after the Appeal Timeframe will not be considered. However, in the event, the company submits an appeal to Bursa Securities within the Appeal Timeframe, the de-listing of the securities of the Company from the Official List of Bursa Securities on 28 August 2023 will be deferred pending the decision on the Company’s appeal. But the trading of the Company’s securities will be and/or remain suspended on 24 August 2023 even though the decision on the Company’s appeal is still pending.
The securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company that has been de-listed to be withdrawn from Bursa Depository.
Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures.
Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company’s performance. However, the shareholders will be holding shares that are no longer quoted and traded on Bursa Securities.
