FVSB daces delisting on Sept 22

KUALA LUMPUR: Trading of Fountain View Development Bhd's (FVSB) securities faces delisting on Sept 22 unless it appeals to Bursa Securities on or before Sept 17 following the group's failure to submit a regularisation plan to the Securities Commission or Bursa Securities.

FVSB, whose appeal for a time extension to submit the regularisation plan was rejected, said its securities, which are currently deposited with Bursa Malaysia Depository Sdn Bhd, may remain the depository despite the de-listing of the securities.

"It is not mandatory for the securities of the company which has been de-listed to be withdrawn from Bursa Depository," it said.

"Shareholders who intend to hold their securities in the form of physical certificate can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at anytime after the securities of the Company have been de-listed," it said.

Upon de-listing, it will still be able to continue its operations and business and proceed with its corporate restructuring.

Shareholders can still be rewarded by the company's performance, but their shares will no longer be quoted and traded on the trading bourse, it said.
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