HOVID inform that Bursa Securities had, via its letter dated 14 November 2011, granted an extension of time up to 28 February 2012.
The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the securities of Hovid and to de-list the Company in the event:
(i) the Company fails to submit the regularisation plan to the regulatory authorities on or before 28 February 2012;
(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or
(iii) the Company fails to implement its regularisation plan within the time frame or extended time frames stipulated by Bursa Securities.
Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of Hovid upon the expiry of five (5) market days from the date the Company is notified by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the securities of Hovid and to de-list the Company in the event:
(i) the Company fails to submit the regularisation plan to the regulatory authorities on or before 28 February 2012;
(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or
(iii) the Company fails to implement its regularisation plan within the time frame or extended time frames stipulated by Bursa Securities.
Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of Hovid upon the expiry of five (5) market days from the date the Company is notified by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
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