KUALA LUMPUR: The trading stock of Reneuco Bhd
fell to a fresh historical low of 3.5 sen a share on Wednesday, representing a 56.25% decline from the previous day's close.
There was heavy selling in the counter on Wednesday, the day's most active, with 197.48 million shares changing hands as at 10.40am.
The shares have lost about 77% of their value since the company missed the annual report submission date on Jan 31, 2024.
The company's warrants, meanwhile, have lost more than half their value to three sen a unit over the same time period.
Bursa Securities had said in an announcement the previous day that it would suspend trading in Renueco's securities at 9am on Feb 9, 2024, if it failed to submit its annual report for the financial year ended Sept 30, 2023, by Feb 8, 2024.
The submission deadline represents five market days after Jan 31, the stipulated timeframe for submission of its financial statements under the Main Market listing requirements.
Furthermore, if Reneuco fails to issue the outstanding financial statements within six months from the expiry of the relevant timeframes, Bursa Securities said it may proceed to delist the company.
