PUBLIC SHAREHOLDINGS SPREAD
|Subject||PUBLIC SHAREHOLDINGS SPREAD
STATUS ANNOUNCEMENT ON COMPLIANCE WITH THE PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 3.3 OF PRACTICE NOTE 19 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS")
We refer to the previous announcements dated 21 August 2019 and 11 October 2019 in relation to the non-compliance with public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements.
The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the above matter.
The Board of LTKM wishes to announce the following Status Announcement on compliance with the public shareholding spread requirement in conjunction with the release of the Company's unaudited quarterly reports for the Second Quarter ended 30 September 2019, pursuant to Paragraph 3.3 of Practice Note 19 of the Listing Requirements.
The Company currently does not comply with the public shareholding spread requirement as set out in Paragraph 8.02(1) of the Listing Requirements which stipulates that a listed issuer must ensure at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders. The public shareholding spread of LTKM is 14.44% as at the date of this announcement.
The shortfall in the public shareholding spread of LTKM arose as a direct consequence of the Offer which had closed on 2 October 2019.
On 11 October 2019, the Company had announced that Bursa Securities had vide its letter dated 10 October 2019, granted the Company an extension of time of 6 months until 1 April 2020, to comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements. The Company will use the extension of time to engage with the Joint Offerors in order to formulate a firm plan to address the public shareholding spread requirement. As at the date of this announcement , no firm plan has yet been formulated.
This announcement is dated 3 December 2019.
|Company Name||LTKM BERHAD|
|Date Announced||03 Dec 2019|
|Category||General Announcement for PLC|