PRACTICE NOTE 17 / GUIDANCE NOTE 3 : REGULARISATION PLAN

PETROL ONE RESOURCES BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
REGULARISATION PLAN
Description
PETROL ONE RESOURCES BERHAD ("COMPANY" OR "PETONE") - PROPOSED REGULARISATION PLAN

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcements dated 15 November 2013, 28 March 2014, 21 January 2015, 14 August 2015 and 28 July 2016.

Reference is made to the announcements dated 15 November 2013, 28 March 2014, 21 January 2015, 14 August 2015 and 28 July 2016 in relation to the Proposed Regularisation Plan.

On behalf of the Board of Directors, PIVB wishes to announce that Bursa Securities had, vide its letter dated 15 March 2017, granted the Company an extension of time up to 13 August 2017 to implement its Proposed Regularisation Plan.

The extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of PETONE and to de-list the Company in the event the Company fails to implement its Proposed Regularisation Plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of the event above, Bursa Securities shall suspend the trading of the listed securities of PETONE 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 16 March 2017.






Announcement Info

Company Name PETROL ONE RESOURCES BERHAD
Stock Name PETONE
Date Announced 16 Mar 2017
Category General Announcement for PLC
Reference Number GA1-15032017-00080