News

We refer to the announcement dated 12 January 2023 in relation to the application for extension of time to submit a regularisation plan to Bursa Malaysia Securities Berhad (“Bursa Securities”).

On behalf of the Board of Directors of Awantec, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that Bursa Securities had, vide its letter dated 10 February 2023, granted the Company an extension of time of 6 months up to 28 July 2023 to submit its regularisation plan to Bursa Securities.

The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of Awantec and to de-list the Company in the event:

(i)         the Company fails to submit a regularisation plan to the regulatory authorities on or before 28 July 2023;

(ii)         the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii)        the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities may suspend the trading of the listed securities of Awantec on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.

This announcement is dated 13 February 2023.