KUALA LUMPUR, Jan 11 (Bernama) -- Perisai Petroleum Teknologi Bhd's (Perisai) trading on Bursa Malaysia will be suspended effective Jan 22 following the rejection of its proposed regularisation plan by Bursa Malaysia Securities Bhd.
In a filing with Bursa Malaysia today, it said the rejection was pursuant to Practice Notice 17.
“In the event Perisai submits an appeal to Bursa Securities within the appeal timeframe on or before Feb 10, the removal of Perisai securities from the official list of Bursa Securities on Feb 13 shall be deferred pending the decision on the appeal,” it said.
The company would continue to exist as an unlisted entity upon the de-listing, it said, and would continue its operations and business and proceed with its corporate restructuring.
Perisai said shareholders can still be rewarded by the company’s performance although they would be holding shares which are no longer quoted and traded on Bursa Securities.