KUALA LUMPUR (March 11): Kinsteel Bhd securities can be faraway from the official listing of Bursa Malaysia Securities Bhd (Bursa Securities) following the rejection of its attraction in opposition to the latter’s rejection of the proposed regularization plan.

Kinsteel stated that beneath the circumstances and in accordance with the letter from Bursa Securities dated June 9, 2020, its securities can be faraway from the official listing after the expiration of two buying and selling days now on Tuesday, March 16, 2021.

“With regard to the corporate’s securities that are at the moment deposited with Bursa Malaysia Depository Sdn Bhd (Bursa Depository), the securities could stay deposited with the Bursa Depository however the deletion of the securities from the official listing of Bursa securities.

“It isn’t obligatory that the securities of an organization that has been delisted from the itemizing be faraway from Bursa Depository,” he stated in a submitting with Bursa Malaysia.

Kinsteel stated that shareholders who intend to carry their securities within the type of bodily certificates might withdraw the securities from their Central Depository System (CDS) accounts held with Bursa Depository at any time after delisting of the securities from the society.

“This may be achieved by shareholders submitting a withdrawal request kind in accordance with the procedures prescribed by Bursa Depository.

“These shareholders can contact any collaborating group of Bursa Securities and / or the final line of Bursa Securities at 03-2034 7000 for extra data on the withdrawal procedures,” he stated.

After its delisting, Kinsteel will live on however as an unlisted entity.

“The corporate is at all times capable of proceed its operations and actions and proceed with its company restructuring and its shareholders can at all times be rewarded with the efficiency of the corporate.

“Nevertheless, shareholders will maintain shares which are now not listed and traded on Bursa Securities,” he stated.