|Subject||IDAMAN UNGGUL BERHAD ("IDAMAN" OR "THE COMPANY") - De-listing of the securities of Idaman Unggul Berhad from the Official List of Bursa Malaysia Securities Berhad ("Bursa Securities")|
Reference is made to the Company's First Announcement on 29 February 2008 in relation to the classification of IDAMAN as an Affected Listed Issuer pursuant to Amended Practice Note 17/2005 ("PN17"), and the announcement dated 15 July 2009 in relation to the Extended Timeframe granted to the Company up to 29 November 2009 ("Deadline") to submit a regularisation plan to the Securities Commission and other relevant authorities ("the Approving Authorities"). Reference is also made to the Company's announcement dated 1 December 2009 in relation to the deferred de-listing procedures against the Company pending the decision on the Company’s appeal by the Appeals Committee.
Further to the above, the Company wishes to announce that Bursa Securities has vide its letter dated 10 December 2009, decided to de-list the securities of the Company from the Official List of Bursa Securities pursuant to paragraph 8.14C(1) of the Listing Requirements of Bursa Securities ("LR"), as the Company does not have an adequate level of financial condition to warrant continued listing on the Official List of Bursa Securities.
In view of the above decision by Bursa Securities, the securities of the Company will be removed from the Official List of Bursa Securities on Wednesday, 23 December 2009.
With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.
Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from the Central Depository System (“CDS”) accounts maintained with Bursa Depository at anytime after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures.
Upon the de-listing, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and proceed with its corporate restructuring. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.
|This announcement is dated 11 December 2009.|