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PRACTICE NOTE 17 / GUIDANCE NOTE 3 : OTHERS

BERTAM ALLIANCE BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
OTHERS
Description
BERTAM ALLIANCE BERHAD ("BERTAM" OR "COMPANY")

APPLICATION FOR A FURTHER EXTENSION OF TIME TO SUBMIT REGULARISATION PLAN TO REGULARISE THE FINANCIAL CONDITION OF THE COMPANY PURSUANT TO PRACTICE NOTE 17 OF MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("LISTING REQUIREMENTS")

Reference is made to the First Announcement made on 4 April 2018 and the monthly announcements made by the Company in relation to the Company being classified as a PN17 Issuer pursuant to the requirements under PN 17 of the Listing Requirements. The terms herein shall bear the same meaning as defined in the First Announcement.

 

Bursa Securities had vide its letter dated 20 May 2021, granted the Company an extension of time (“EOT”) for a further 6 months up to 3 October 2021 to submit the regularisation plan to regularise the financial condition of the Company (“Regularisation Plan”).

 

On 4 October 2021, the Company had submitted an application for a further EOT up to 3 April 2022 to comply with Paragraph 8.04(3) of the Listing Requirements (“6th EOT Application”).

 

The Board wishes to inform that Bursa Securities has vide its letter dated 1 December 2021 decided to grant the Company an extension of time of 6 months up to 3 April 2022 to submit the Regularisation Plan to the regulatory authorities, subject to the Requisite Announcement being made by 31 December 2021.

 

Please note that the aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of Bertam and to de-list the Company in the event:

 

(i) the Company fails to make the Requisite Announcement on or before 31 December 2021;

(ii) the Company fails to submit a regularisation plan to the regulatory authorities on or before 3 April 2022;

(iii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iv) the Company fails to implement its regularisation plan with the time frame or extended time frame stipulated by any of the regulatory authorities.

 

Upon occurrence of any of the events set out in (i) to (iv) above, Bursa Securities shall suspend the trading of the listed securities of Bertam on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.


This announcement is dated 1 December 2021.






Announcement Info

Company Name BERTAM ALLIANCE BERHAD
Stock Name BERTAM
Date Announced 01 Dec 2021
Category General Announcement for PLC
Reference Number GA1-01122021-00076




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