Meridian has triggered the main market listing requirement and has since been placed under PN17 by Bursa Securities on 8 April 2024.
Meridian said it already made the announcement on 26 September 2023 that the company had triggered Rule 8.03A(2b) of the Main Market Listing Requirements whereby the company has insignificant business or operations. Therefore, it is being classified as an affected listed corporation.
As it has been classified as an affected listed corporation in September 2023, hence it has till September 2024 to submit its regularisation plan in view of the 12 month deadline.
The Board said ti is taking all necessary actions to formulate a regularisation plan to address its PN17 status.
