KUALA LUMPUR: Meridian Bhd
’s securities will be delisted on Nov 3, 2026 unless the company submits an appeal by Oct 29, following Bursa Malaysia’s rejection of its application for a further extension of time to submit its proposed regularisation plan.
In a filing with Bursa Malaysia today, Meridian said its securities will be suspended from Oct 30, 2026.
M & A Securities Sdn Bhd, on behalf of Meridian’s board of directors, said Bursa Malaysia rejected the application as Meridian had not demonstrated, to the exchange’s satisfaction, any material development towards the finalisation and submission of the regularisation plan to the relevant regulatory authorities.
It said Bursa Malaysia noted that Meridian had failed to regularise its condition in accordance with paragraph 8.04(3)(a) of the Main Market Listing Requirements.
"Meridian had failed to submit its regularisation plan to the Securities Commission Malaysia or Bursa Malaysia for approval within the extended timeframe of Sept 25, 2026.
"Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities,” it added.
It said in the event Meridian submits an appeal to Bursa Malaysia within the appeal timeframe, the de-listing of its securities from Bursa Malaysia’s Official List will be deferred pending the decision on the appeal.
However, Bursa Malaysia will proceed to suspend the trading of the company's securities on Oct 30 even though the appeal decision is still pending.
"Upon delisting, Meridian will continue to exist as an unlisted entity and will be able to continue its operations and business and proceed with its corporate restructuring.
"Shareholders will be holding shares that are no longer quoted and traded on Bursa Malaysia, while their interests and rights will remain safeguarded under the Companies Act 2016,” it said. - Bernama
