There it goes, another Bursa malaysia stock disappearing into thin air. Why it get listed in the first place?
The Board of Directors of TOB wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had issued a letter dated 7 April 2010 (“Letter”) in respect of de-listing procedures commenced against TOB in view that the agreement in respect of the Company’s proposed restructuring scheme with the EP Group of Companies had lapsed and as such the Company has failed to implement its regularization plan. The securities of the Company will be removed from the Official List of Bursa Securities on Monday, 19 April 2010 unless an appeal is made to Bursa Securities within 5 market days from the date of the Letter, which is by 14 April 2010 ("Appeal Timeframe").
The Board of Directors of TOB also wishes to announce the following:-
1) Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities;
2) In the event the Company submits an appeal to Bursa Securities within the Appeal Timeframe, the removal of the securities of the Company from the Official List of Bursa Securities on 19 April 2010 shall be deferred pending the decision on the Company's appeal by the Appeals Committee; and
3) In the event Bursa Securities decides to de-list the Company, TOB will continue to exist but as an unlisted entity. The Company is still able to continue its operations and businesses 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 which are no longer quoted and traded on Bursa Securities.
This announcement is dated 7 April 2010.
c.c. Eugene Wong Weng Soon
Issues & Investment
Securities Commission
source: Bursa Malaysia Official Site
