Unless otherwise defined, the definitions set out in the First Announcement made on 8 July 2014 and announcement made on 9 June 2015 shall apply herein.
We refer to the following announcements:
(i) announcement dated 9 June 2015 wherein it was announced that an application has been submitted to Bursa Securities for further extension of time of one (1) month of up to 7 August 2015 to submit the Waiver Application (“First EOT”); and
(ii) announcement dated 10 July 2015 wherein it was announced that an application has been submitted to Bursa Securities to vary the First EOT to seek a further extension of time of up to 7 September 2015 to submit the Waiver Application.
(collectively, referred to as “Applications”).
M&A Securities on behalf of the Board, wishes to announce that after due consideration of all facts and circumstances of the Applications, Bursa Securities has vide its letter dated 16 July 2015 decided to grant the Company an extension of time of up to 7 September 2015 to submit the regularisation plan or the Waiver Application, to the regulatory authorities.
The extension of time granted to CSL is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of CSL and to de-list the Company in the event:
(i) the Company fails to make a regularisation plan or the Waiver Application to the regulatory authorities on or before 7 September 2015;
(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan or the Waiver Application; or
(iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.
Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of CSL on the next market day after five (5) market days from the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
This announcement is dated 20 July 2015.