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PUBLIC SHAREHOLDINGS SPREAD

FGV HOLDINGS BERHAD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
NON-COMPLIANCE WITH PUBLIC SHAREHOLDING SPREAD PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS

We refer to the announcements dated 5 February 2021 and 16 March 2021 in relation to FGV Holdings Berhad’s (“FGV” or “Company”) non-compliance with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Public Spread Requirement”).

 

The Board of Directors of the Company wishes to announce that Bursa Securities, had vide its letter dated 23 March 2021, granted the Company an extension of time of six months until 3 August 2021 to comply with the Public Spread Requirement. 

 

As at 19 March 2021, the Company's public shareholding spread was 13.99%. The shortfall in the public shareholding spread of the Company arose as a direct consequence of the unconditional mandatory takeover offer by Federal Land Development Authority (“FELDA”) which had closed on 15 March 2021.  

 

The Company will use the extension of time granted by Bursa Securities to formulate a rectification plan to address the shortfall in its public shareholding spread and to allow sufficient time for FELDA to formulate a firm plan on FGV’s listing status.

 

FGV will make the necessary announcement in relation to the status of compliance of the Company’s public shareholding spread accordingly.

 

This announcement is dated 24 March 2021.

 






Announcement Info

Company Name FGV HOLDINGS BERHAD
Stock Name FGV
Date Announced 24 Mar 2021
Category General Announcement for PLC
Reference Number GA1-24032021-00017




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