Bursa grants Capital A extension until Oct 7 on regularisation plan

KUALA LUMPUR: Bursa Malaysia Securities Bhd has granted Capital A an extension of three months up to Oct 7, 2023, to submit its regularisation plan to the regulatory authorities.

In a filing with Bursa Malaysia today, Capital A said the extension was without prejudice to Bursa Securities’ right to proceed to suspend the trading of listed securities of the company and to delist in the event the company failed to submit its regularisation plan to the regulatory authorities on or before Oct 7, 2023.

It said the trading of the company’s listed securities would be suspended if it failed to obtain the approval from any of the regulatory authorities necessary to implement its regularisation plan or failed to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

"Upon the occurrence of any of the events set out in, Bursa Securities shall suspend the trading of the listed securities of the company on the sixth market day after the date of notification of suspension by Bursa Securities and delist the Capital A, subject to the company’s right to appeal against the delisting,” it said.

Prior to this, Capital A Bhd chief executive officer Tony Fernandes expressed his confidence in exiting Bursa Securities’ PN17 list this year.

To recap, Capital A fell into the PN17 list of Bursa Securities, a categorisation for distressed entities, in January 2022. - Bernama