Bursa Malaysia dismisses Eka Noodles’ appeal for time extension, to de-list counter on July 14

by BERNAMA / pic credit: Eka Noodles

BURSA Malaysia has dismissed Eka Noodles Bhd’s further appeal for an extension of time on submitting its regularisation plan and has decided to de-list the company pursuant to paragraph 8.04 of Bursa Securities Main Market Listing Requirements. 

Under the circumstances, the securities of the company shall be removed from the Official List of Bursa Securities on July 14, 2021.

In a filing with Bursa Malaysia yesterday, the company said its securities may remain deposited with Bursa Depository, notwithstanding the de-listing of the securities from the Official List of Bursa Securities. 

It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository, it said.

Alternatively, shareholders of the company who intend to hold their securities in the form of physical certificates can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at any time after the securities of the company have been de-listed from the Official List of Bursa Securities.

This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository.

Upon the de-listing of the company, the company would continue to exist but as an unlisted entity. 

The company would still be able to continue its operations and business and proceed with its corporate restructuring and its shareholders could still be rewarded by the company’s performance. 

However, the shareholders would be holding shares which are no longer quoted and traded on Bursa Malaysia.