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PUBLIC SHAREHOLDINGS SPREAD

TRANSOCEAN HOLDINGS BHD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
TRANSOCEAN HOLDINGS BHD. ("THB" or "the Company")
-PUBLIC SHAREHOLDING SPREAD

Pursuant to paragraph 8.02 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements"), THB wishes to inform Bursa Malaysia Securities Berhad ("Bursa Securities") that the Company’s public shareholding spread as at 31 December 2021 were as follows:-

 

Number of Public Shareholders : 2,111
Percentage of public shareholding : 22.86%

 

Pursuant to Paragraph 8.02 of the Listing Requirements, a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders (“Public Shareholding Spread Requirement”). Accordingly, the Company is not able to comply with the Public Shareholding Spread Requirement.

 

Based on foregoing, THB is applying to Bursa Securities for an extension of time up to 30 June 2022 to meet the said Public Shareholding Spread Requirement (“Proposed Extension of Time”).

 

At this juncture, the Company has yet to formulate any rectification plan to address the shortfall in the Required Public Shareholding Spread but will endeavour to formulate such plan and will explore steps to increase the liquidity of its shares. An application to Bursa Malaysia Securities Berhad to seek an extension of time to comply with the Required Public Shareholding Spread will be made in due course.

 

The Company will make necessary announcements in relation to the status of its efforts to comply with the public shareholding spread requirement every quarter of its financial year in compliance with the Listing Requirements.

 

This announcement is dated 10 January 2022.






Announcement Info

Company Name TRANSOCEAN HOLDINGS BHD
Stock Name TOCEAN
Date Announced 10 Jan 2022
Category General Announcement for PLC
Reference Number GA1-10012022-00016




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