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PARAGRAPH/RULE 8.03A COMPANIES : FIRST ANNOUNCEMENT

ORION IXL BERHAD

Type Announcement
Subject PARAGRAPH/RULE 8.03A COMPANIES
FIRST ANNOUNCEMENT
Description
ORION IXL BERHAD ("ORION" OR THE "COMPANY")
- ANNOUNCEMENT PURSUANT TO RULE 8.03A OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("ACE LR")

Reference is made to the Company’s announcement on 27 August 2021 in relation to its fourth quarterly report on its unaudited consolidated results for the 12 months financial period ended (“FPE”) 30 June 2021.

 

Based on the latest unaudited financial statements for the FPE 30 June 2021, the Company had recorded revenue of RM2.8 million on a consolidated basis, representing less than 5% of its share capital. Thus, the Company has triggered Rule 8.03A(2b) of the ACE LR whereby the Company has insignificant business or operations.

 

However, pursuant to Bursa Malaysia Berhad’s letter dated 16 June 2021 which had granted additional relief measures to listed issuers, the Board of Directors of Orion wishes to announce that the Company has triggered the criterion on insignificant business or operations in Rule 8.03A(2)(b) of the ACE LR between 1 July 2021 and 31 December 2021 (both dates inclusive) (“8.03A(2)(b) Suspended Criterion”). With the relief granted, the Company is therefore exempted from complying with the other obligations under Rule 8.03A of the ACE LR for a period of 12 months from the date of triggering the 8.03A(2)(b) Suspended Criterion. Pursuant thereto, upon the expiry of 12 months from the date of this announcement, the Company is required to re-assess the condition and announce whether it continues to trigger the 8.03A(2)(b) Suspended Criterion.

 

This announcement is dated 27 August 2021.






Announcement Info

Company Name ORION IXL BERHAD
Stock Name ORION
Date Announced 27 Aug 2021
Category General Announcement for PLC
Reference Number GA1-27082021-00121




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