KUALA LUMPUR, March 31 — Bursa Malaysia Securities Bhd has dismissed Nationwide Express Bhd’s attraction for an extension of time to submit its regularisation plan to the related authorities for approval and determined to delist the corporate in keeping with itemizing necessities.
The securities of the corporate might be faraway from the official listing of Bursa Securities on Tuesday, April 5, 2022, Nationwide mentioned in a inventory trade submitting with Bursa Malaysia right now.
“Upon the delisting of the corporate, the corporate will live on however as an unlisted entity.
“The company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the company’s performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities,” it mentioned.
On February 8, Nationwide introduced that it had submitted an utility to Bursa Securities to hunt an extension of time to August 23, 2022 to submit the draft round of its regularisation plan to Bursa Securities. — Bernama