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PRACTICE NOTE 17 / GUIDANCE NOTE 3 : SUSPENSION AND/OR DELISTING

TH HEAVY ENGINEERING BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
SUSPENSION AND/OR DELISTING
Description
TH HEAVY ENGINEERING BERHAD ("THHE" OR "COMPANY")

APPEAL FOR EXTENSION OF TIME TO SUBMIT REGULARISATION PLAN

We refer to the Company’s announcement dated 22 August 2022 in relation to the Company’s appeal for an extension of time for the submission of a regularisation plan (“Announcement”).

On behalf of the Board of Directors of THHE, Public Investment Bank Berhad wishes to announce that after due consideration of all facts and circumstance of the matter, Bursa Malaysia Securities Berhad (“Bursa Securities”) has vide its letter dated 30 August 2022, decided to:

(a)        dismiss the Company’s further appeal for an extension of time until 22 February 2023 to submit its regularisation plan to the relevant authorities for approval; and

(b)        de-list the securities of the Company from the Official List of Bursa Securities pursuant to Paragraph 8.04 of the Main Market Listing Requirements.

In the circumstances, the securities of the Company will be removed from the Official List of Bursa Securities on 5 September 2022.

With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.

Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders by submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures.

Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and businesses and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company’s performance. However, the shareholders will be holdings shares which are no longer quoted and traded on Bursa Securities.

 

This announcement is dated 1 September 2022.






Announcement Info

Company Name TH HEAVY ENGINEERING BERHAD
Stock Name THHEAVY
Date Announced 01 Sep 2022
Category General Announcement for PLC
Reference Number GA1-01092022-00039




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