Thursday, June 16, 2011

Ecofuture's appeal for more time to find sponsor rejected

KUALA LUMPUR: Bursa Malaysia Securities Bhd has rejected ECOFUTURE BHD. []''s application for more time to find a replacement sponsor after its then sponsor ECM Libra Investment Bank Bhd had tendered its resignation on March 10.

The company said on Thursday, June 16 its application for an extension''of time to appoint a sponsor'' made on June 6 was rejected.

'The board of directors of Ecofuture wishes to inform that Bursa Securities had via its letter dated June 15 rejected the application,' it said.

Ecofuture will be suspended from June 23 and ultimately, faces delisting by June 27.

Its share price tumbled four sen to 4.5 sen with 683,900 shares done on Thursday.

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