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TRANSOCEAN HOLDINGS BHD ("the Company") Approval from Bursa Malaysia Securities Berhad ("the Exchange") for the Company's application for extension of time to comply with Paragraph 8.16A of the Listing Requirements

TRANSOCEAN HOLDINGS BHD

Type

Announcement
SubjectTRANSOCEAN HOLDINGS BHD ("the Company")
Approval from Bursa Malaysia Securities Berhad ("the Exchange") for the Company's application for extension of time to comply with Paragraph 8.16A of the Listing Requirements

Contents :


Reference made to the General Announcement made by the Company to the Exchange on 19 April 2005 (Reference No. CU-050419-49264) in relation to its application to the Exchange for an extension of time until 30 September 2006 for the Company to comply with the minimum share capital requirement of RM40 million as stipulated under Paragraph 3.04(2) of the Listing Requirements of the Exchange.

The Board of Directors of the Company hereby announces that the Exchange has approved the said application of the Company for extension of time until 30 September 2006 to comply with Paragraph 8.16A of the Listing Requirements vide its letter to the Company dated 11 May 2005 (Reference No. BMSB/LC/PLCs.T49(5)) and as requested by the Exchange, the Company hereby furnishes the following information to the Exchange:

1) The steps taken or proposed to be taken by the Company to comply with Paragraph 8.16A of the Listing Requirements

      The Company is currently identifying target company/ies/assets to be acquired in exchange of the Company’s shares and also looking for potential investors to participate in the increase in paid-up capital of the Company.
2) The tentative timeline in respect of the steps taken to achieve compliance

      Tentatively the Company has projected to achieve compliance by end of September 2006.
3) The status of implementation of the steps to be taken

      As at the date of this Announcement, there is no development on the status of our plans.
This announcement is dated 11 May 2005.


Announcement Info

Company NameTRANSOCEAN HOLDINGS BHD  
Stock Name TOCEAN    
Date Announced11 May 2005  
CategoryGeneral Announcement
Reference NoCS-050511-57637



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