Capital A has informed that Bursa Securities has resolved to grant the company an extension of time until 15 April 2025 to comply with the Listing Requirements to issue the circular to shareholders concerning the Proposed Regularisation Plan.
The group was eyeing to exit from Practice Note 17 (PN17) status by May 2025 after receiving approval from shareholders and the High Court on its regularisation plan.
As part of the conditions, Capital A must confirm that it has obtained all necessary approvals from relevant authorities. The group is also required to submit copies of all approval letters and ensure that shareholders have passed the required resolution at a general meeting.
For this, Chief Executive Officer Tan Sri Dr Tony Fernandes said the company will call for an extraordinary general meeting, which is expected to be held in April 2025, for shareholders and redeemable convertible unsecured Islamic debt securities holders.
He said once Capital A exits from PN17 status, it will unlock new growth opportunities and provide the company with greater access to capital markets.
