Prime Utilities will be delisted
Filed Under (Bursa News) by Webmaster on 24-03-2010
Tagged Under : delist, Prime Utilities
Bursa Malaysia Securities Bhd has decided to dismiss Prime Utilities Bhd’s appeal and to de-list the securities of the company on April 2, 2010.
In a statement, Bursa said the decision was made after due consideration of all the facts and circumstances of the matter including the company’s representation that it could recover from its financial condition by 2012.
“Accordingly, the securities of prime will be removed from the official list of Bursa Securities on April 2.
“Prime is required to communicate Bursa Securities’ decision to its shareholders,” it said.
The stock exchange regulator said upon delisting Prime would continue to exist but as an unlisted entity.
“Prime is still able to its operations and business and proceed with its corporate restructuring and the shareholders can still be rewarded by the company’s performance,” Bursa said.
“However, shareholders will be holding shares which are no longer quoted and traded on Bursa Securities,” it added.
