KUALA LUMPUR, July 14 — Bursa Malaysia Securities Bhd (Bursa Securities) has decided to de-list Berjaya Media Bhd on the Main Market on July 17, 2020.
In a filing with Bursa Malaysia, Berjaya Media said Bursa Securities had dismissed its further appeal for an extension of time to submit the regularisation plan to the relevant authorities for approval.
On the effect of the de-listing from the official list of Bursa Securities, it said with respect to the securities of the company which are currently deposited with Bursa Malaysia Depository Sdn Bhd (Bursa Depository), the securities may remain deposited with Bursa Depository.
It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.
Upon the de-listing of the company, it would 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 would be holding shares which are no longer quoted and traded on Bursa Securities. — Bernama
