General Announcement
Reference No: PP-090617-65955
Company
Name
:
PACIFICMAS BERHAD
Stock
Name
:
PACMAS
Date
Announced
:
17-06-2009
Type
:
Announcement
Subject
:
PACIFICMAS BERHAD ("PACIFICMAS" OR THE "COMPANY") NON-COMPLIANCE WITH PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.15(1) OF BURSA MALAYSIA SECURITIES BERHAD'S LISTING REQUIREMENTS ("PUBLIC SHAREHOLDING SPREAD")
Contents
:
We refer to our announcement dated 24 March 2009 which stated, amongst others that, PacificMas had received approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) for a further extension of time for a period of three (3) months until 25 June 2009 to comply with the Public Shareholding Spread.
On 12 June 2009, PacificMas submitted an application to Bursa Securities to allow PacificMas a further extension of time of six (6) months from 26 June 2009 until 25 December 2009 to comply with the Public Shareholding Spread, highlighting that:-
i)
OCBC Capital (Malaysia) Sdn Bhd ("OCSB"), a substantial shareholder and holding company of PacificMas, had sold down its shareholdings by 6.1 million ordinary shares in PacificMas on 9 June 2009, thus reducing its total shareholdings in PacificMas from 67.07% to 63.50%;
ii)
After the disposal of the above shares by OCSB, PacificMas remained not in compliance with the Public Shareholding Spread; and
iii)
OCSB was in negotiations with interested party(ies) to further sell down OCSB's shareholding in PacificMas in order to comply with the Public Shareholding Spread and that OCSB would require additional time to implement the rectification plan
On 17 June 2009, PacificMas received a letter from Bursa Securities approving a further extension of time for a period of six (6) months until 25 December 2009 to comply with the Public Shareholding Spread.
Based on the Company's Record of Depositors as at 15 June 2009, the public shareholding spread of PacificMas was 20.04%. Accordingly, PacificMas does not comply with the Public Shareholding Spread as less than 25% of its total listed shares are in the hands of public shareholders.
