PRACTICE NOTE 17 / GUIDANCE NOTE 3 : FIRST ANNOUNCEMENT

SCOMI GROUP BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
FIRST ANNOUNCEMENT
Description
SCOMI GROUP BHD ("SGB" OR "THE COMPANY")
- FIRST ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN17") OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("LISTING REQUIREMENTS") ("BURSA SECURITIES")

Reference is made to the announcements dated 30 August 2019 and 3 September 2019.

 

Bursa Securities had, vide its letter dated 2 December 2019, decided to reject SGB’s application for a waiver from being classified as an affected listed issuer pursuant to Paragraph 8.04(2) and PN17 of the Listing Requirements as there are concerns on the sustainability and growth potential of the existing/remaining business and the ability of SGB to generate sufficient revenue and thus profitability.

 

Pursuant to the above as well as Paragraph 8.04 and Practice Note 17 of the Listing Requirements, the Board of Directors of SGB wishes to announce that the Company is now regarded as an affected listed issuer (“PN17 Company”) as it has triggered Paragraphs 2.1(a) and 2.1(e) of PN17 of the Listing Requirements.

 

Please refer to the attached document for further details.

 

This announcement is dated 3 December 2019.




Please refer attachment below.



Announcement Info

Company Name SCOMI GROUP BERHAD
Stock Name SCOMI
Date Announced 03 Dec 2019
Category General Announcement for PLC
Reference Number GA1-03122019-00026