|Contents||The Board of Directors of Fountain View Development Berhad wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had notified the Company via its letter dated 8 September 2010 that it noted the company has failed to submit a regularisation plan to the Securities Commission or Bursa Securities for approval within 12 months from the Company's First Announcement on 3 September 2009, in accordance with paragraph 8.04(3)(a)(i) of the Main LR i.e. on or before 2 September 2010 and further, FVDB's application for an extension of time to submit the regularisation plan was rejected, as communicated by Bursa Securities to the Company today.|
In the circumstances and pursuant to paragraph 8.04(5) of the Main LR, Bursa Securities wishes to informed that:-
(a) the trading in the securities of the Company will remain suspended until further notice; and
(b) the securities of the Company will be de-listed on 22 September 2010 unless an appeal is submitted to Bursa Securities on or before 17 September 2010 ("the Appeal Timeframe"). Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities.
In the event the Company submits an appeal to Bursa Securities within the Appeal Timeframe, the removal of the securities of the Company from the Official List of Bursa Securities on 22 September 2010 shall be deferred pending the decision on the Company's appeal.
With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposit 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 It is not mandatory for the securities of the company which has been de-listed to be withdrawn from Bursa Depository.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 certificate, can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at anytime after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedure prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities' General Line at 03-20347000 for further information on the withdrawal procedures.
Upon the de-listing of the securities of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company's performance. However the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.
In the event the Company submits an appeal to Bursa Securities, the Company is required to make an announcement of the appeal and that the removal of the securities of the Company on 22 September 2010 will be deferred pending on the Company's appeal by Bursa Securities.
This announcement is dated 8 September 2010.