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We refer to our announcement dated 5 November 2009 in relation to the non-compliance with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Bursa Securities LR”) (“Public Spread Requirement”).
We wish to inform that Bursa Securities had through its letter dated 29 December 2009, rejected Pharmaniaga’s application for a further extension of time to comply with the Public Spread Requirement. In the same letter, Bursa Securities had also required Pharmaniaga to rectify the shortfall in the public shareholding spread within 3 months from 29 November 2009, failing which enforcement action may be taken against Pharmaniaga. Bursa Securities may take or impose for a breach of paragraph 8.02(1) of the Bursa Securities LR any type of action or penalty pursuant to paragraph 16.19 of the Bursa Securities LR and suspend trading in the ordinary shares of RM1.00 each in Pharmaniaga pursuant to paragraph 16.02 of the Bursa Securities LR.
UEM Group Berhad, the major shareholder of Pharmaniaga is evaluating its options with regards to meeting the Public Spread Requirement within 3 months from 29 November 2009.
As at 30 November 2009, Pharmaniaga’s public shareholding spread stood at 12.98%.
This announcement is dated 29 December 2009. |
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