News

We refer to the Company’s announcement dated 13 October 2023 where Bursa Securities had granted Awantec up to 13 April 2024 to submit its regularisation plan to the relevant regulatory authorities.

On behalf of the Board of Directors of Awantec, Maybank Investment Bank Berhad wishes to announce that the Company had on 8 April 2024 submitted an application to Bursa Securities for the following:

(i). a waiver from having to submit and implement a regularisation plan as required under Paragraph 8.03A(3) of the Listing Requirements; and

(ii). an upliftment of Awantec from being classified as an affected listed issuer pursuant to paragraph 8.03(A) 2(a)(aa) of the Listing Requirements,

after considering, among others, the recent improvement in the financial performance of the Company and its subsidiaries (“Proposed Waiver and Upliftment”).

Pending the decision from Bursa Securities on the above, the Company had also vide the same application, applied to Bursa Securities for a further extension of time of six (6) months from 14 April 2024 to 13 October 2024 for the Company to submit a regularisation plan to the relevant regulatory authorities in the event that Bursa Securities does not approve the Proposed Waiver and Upliftment.

This announcement is dated 8 April 2024.