KUALA LUMPUR: Practice mote 17 (PN17) company Reach Energy Bhd
will be delisted on April 24, 2025, following Bursa Malaysia’s rejection of the company’s appeal for more time to submit its regularisation plan.
Bursa Malaysia Securities said the trading in the securities of Reach Energy will be suspended with effect from April 22.
It said Reach Energy’s securities will be de-listed on April 24 unless an appeal is submitted to Bursa Securities on or before April 21. Any appeal submitted after this timeframe will not be considered.
If Reach Energy submits an appeal within the given timeframe, the de-listing on April 24 will be put on hold until Bursa Securities makes a decision. However, trading of its securities will still be suspended on April 22, even if the appeal decision is pending.
Bursa said it has rejected the company’s extension of time (EOT) application, as the company failed to demonstrate any material progress in finalising and submitting its regularisation plan to the relevant authorities.
