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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, 16 March 2021, 24 March 2021, 5 August 2021, 30 August 2021, 30 November 2021, 31 January 2022, 28 February 2022, 31 May 2022 and 5 August 2022 on 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 (LR) of Bursa Malaysia Securities Berhad (Bursa Securities).

 

Bursa Securities, vide its letter dated 28 January 2022, granted the Company an extension of time to comply with the public shareholding spread requirement for a further six (6) months from 3 February 2022 until the expiration of the extension on 3 August 2022.

 

The Company had on 26 July 2022 applied to Bursa Securities for a further six (6) months’ extension. Bursa Securities vide written notification, has rejected the Company’s application for the further six (6) months extension of time.

 

The Company's public shareholding spread status pursuant to Paragraph 3.3 of the Practice Note 19 of the Bursa Securities LR is as follows:

 

1) The Company does not comply with the public spread requirement based on its public shareholding spread of 12.94% according to the Company’s record of depositors as at 20 July 2022.

 

2) The Company’s major shareholder, FELDA, vide its letter dated 2 August 2022 maintained its intention not to retain the listing status of the Company as indicated in its Offer Document dated 12 January 2021.

 

3) The Company has not formulated any feasible rectification plan to address the shortfall in the Public Spread Requirement, however in the event of any change to the status, the Company will make further announcement accordingly. .

 

4) The Company will continue to make the quarterly announcements on the status of its efforts to comply with the Public Spread Requirement in compliance with the Bursa Securities LR.

 

In view that the Company’s application was not granted by Bursa Securities to the Company to comply with the public shareholding spread requirement, the Company is aware that Bursa Securities may take or impose on the Company for a breach of Paragraph 8.02(1) of the Bursa Securities LR any type of action or penalty pursuant to Paragraph 16.19 of the Bursa Securities LR and suspend trading in the Company’s securities pursuant to Paragraph 16.02 of the Listing Requirements.

  

This announcement is dated 23 August 2022.






Announcement Info

Company Name FGV HOLDINGS BERHAD
Stock Name FGV
Date Announced 23 Aug 2022
Category General Announcement for PLC
Reference Number GA1-23082022-00063




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