KUALA LUMPUR, March 31 — Bursa Malaysia Securities Bhd has dismissed Nationwide Express Bhd’s appeal for an extension of time to submit its regularisation plan to the relevant authorities for approval and decided to delist the company in line with listing requirements.
The securities of the company will be removed from the official list of Bursa Securities on Tuesday, April 5, 2022, Nationwide said in a stock exchange filing with Bursa Malaysia today.
“Upon the delisting 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,” it said.
On February 8, Nationwide announced that it had submitted an application to Bursa Securities to seek an extension of time to August 23, 2022 to submit the draft circular of its regularisation plan to Bursa Securities. — Bernama
