Type Announcement
 
Subject DECISION IN RESPECT OF DE-LISTING PROCEDURES COMMENCED AGAINST IDAMAN UNGGUL BERHAD ("IDAMAN" OR "THE COMPANY")
 
Contents

The Board of Directors of Idaman wish to inform that the Company had received a letter dated 15 July 2009 from Bursa Malaysia Securities Berhad ("Bursa Securities") informing that Bursa Securities has decided to grant Idaman an extension of time of 6 months until 29 November 2009 to submit the Company's regularisation plan to the Securities Commission and/or other relevant authorities ("the Approving Authorities") for approval ("the Extended Timeframe").

(i) In the event Idaman submits the Company's regularisation plan to the Approving Authorities for approval within the Extended Timeframe, Bursa Securities will await the outcome of the Company's submission; and
(ii) In the event Idaman fails to obtain the Approving Authorities' approval and appeals against the decision of the Approving Authorities, Bursa Securities will await the outcome of Idaman's appeal to the Approving Authorities.

Idaman needs to implement the Company's regularisation plan expeditiously within the timeframe or extended timeframes stipulated by the Approving Authorities in the event Idaman obtains all Approving Authorities' approval necessary for the implementation of the Company's regularisation plan.

Bursa Securities further decided that the securities of Idaman will be delisted pursuant to paragraph 8.14C(1) of the Listing Requirements of Bursa Securities ("LR") upon occurrence of any of the events set out in (i) to (iv) below :-
(i) In the event Idaman fails to submit the regularisation plan to the Approving Authorities for approval within the Extended Timeframe;
(ii) In the event Idaman fails to obtain the approval from any of the Approving Authorities necessary for the implementation of the Company's regularisation plan and does not appeal to the Approving Authorities within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;
(iii) In the event Idaman does not succeed in the Company's appeal against the decision of the Approving Authorities; or
(iv) In the event Idaman fails to implement the Company's regularisation plan within the timeframe or extended timeframes stipulated by the Approving Authorities.

Further to our announcement dated 1 July 2009, the Company wishes to inform that Tahan which has been placed under the management of the Appointed Person on 22 May 2009 on BNM's directive, has written to BNM on 14 July 2009 to seek further extension of time to submit the signed copies of the AAA2007 and AAA2008 to BNM respectively until 31 August 2009. The outcome is pending the approval from BNM.

 
  This announcement is dated 15 July 2009.