KUALA LUMPUR: LCL Corp Bhd, which was badly impacted by its exposure to the Dubai financial crisis, says it has yet to draw up a regularisation plan to exit from the Practice Note 17.
It said on Tuesday, Dec 14 that pursuant to PN17, under the Main Market listing rules of Bursa Malaysia Securities Bhd, it had to submit within 12 months from its first announcement a regularisation plan, which was on Dec 14, 2009.
The plan would have to be submitted to the Securities Commission if the plan will result in a significant change in the business direction or policy of the company.
It would have to submit a regularisation plan to Bursa Securities if the plan will not result in a significant change in the business direction or policy of the company, and obtain Bursa Securities' approval to implement the plan.
'The company wishes to inform that as at Dec 14, 2010 , it does not have a regularisation plan and is therefore, unable to comply with the requirements of PN17,' it said.
It said on Tuesday, Dec 14 that pursuant to PN17, under the Main Market listing rules of Bursa Malaysia Securities Bhd, it had to submit within 12 months from its first announcement a regularisation plan, which was on Dec 14, 2009.
The plan would have to be submitted to the Securities Commission if the plan will result in a significant change in the business direction or policy of the company.
It would have to submit a regularisation plan to Bursa Securities if the plan will not result in a significant change in the business direction or policy of the company, and obtain Bursa Securities' approval to implement the plan.
'The company wishes to inform that as at Dec 14, 2010 , it does not have a regularisation plan and is therefore, unable to comply with the requirements of PN17,' it said.
No comments:
Post a Comment