Idaman Unggul to be delisted
Filed Under (Bursa News) by Webmaster on 11-12-2009
Tagged Under : delist, Idaman Unggul
Bursa Malaysia has decided to disallow Idaman Unggul Bhd’s appeal and will de-list the securities of the company after due consideration of all the facts and circumstances of the matter.
In a statement yesterday, it said the securities of Idaman will be removed from the Official List of Bursa on Dec 23 and Idaman was required to communicate Bursa’s decision to its shareholders.
Upon its de-listing, Idaman would continue to exist but as an unlisted entity. Idaman would still able to continue its operations and business and proceed with its corporate restructuring and the shareholders could still be rewarded by the company’s performance.
However, the shareholders would be holding shares which were no longer quoted and traded on Bursa.
In such a case, how does one sell of his shares in the company?
Unfortunately once a company is delisted from an exchange, minority shareholders will face problem in selling the share as with any other exchanges. Unless you are a majority shareholder, you don’t have any option of selling the share.