Berjaya Media granted extension to submit regularisation plan

KUALA LUMPUR: Berjaya Media Bhd has been granted an extension by Bursa Malaysia Securities Bhd up to December 20, 2018 to submit a regularisation plan to the regulatory authorities.

The group said in a filing to the stock exchange that the extension was granted via a letter dated July 26, 2018.

It said the extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the company’s listed securities and to de-list the company in the event - it fails to submit the regularisation plan within the deadline, it fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; and/or it 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 these events, it said, Bursa Securities shall suspend the trading of Berjaya Media’s listed securities on the sixth market day after the date of notification of suspension and de-list the company, subject to the company's right to appeal against the delisting,” it said.