1. INTRODUCTION
Reference is made to the Company’s announcement made on 31 January 2023 in relation to the disclaimer opinion expressed by its External Auditors, Messrs. CAS Malaysia PLT, on the Company’s Consolidated Audited Financial Statements for the 16-month financial period ended 30 September 2022.
In connection to the above, the Board of Directors of LAMBO wishes to inform that LAMBO is now a GN3 company as it has triggered the prescribed criteria under paragraph 2.1(f) of GN3 of the AMLR ("GN3 Company”).
2. OBLIGATIONS OF THE COMPANY
As a GN3 Company, the Company is required to comply and regularise its condition in the following manner:
(i) submit to Bursa Securities a regularisation plan and obtain Bursa Securities’ approval to implement the plan within 12 months from the date of this announcement;
(ii) appoint a person who is registered on the register of sponsors maintained by Bursa Securities for the ACE Market (“Sponsor”) within 3 months from the date of this announcement and retain the said Sponsor until it is no longer considered as a GN3 Company by Bursa Securities under Rule 8.04(8) of the AMLR;
(iii) implement the regularisation plan within 6 months from the date the regularisation plan is approved by Bursa Securities or within 12 months if the regularisation plan involves court proceedings;
(iv) provide such information as may be prescribed by Bursa Securities from time to time for public release;
(v) retain the services of a Sponsor for at least 3 full financial years after it is no longer considered as a GN3 Company by Bursa Securities under Rule 8.04(8) of the AMLR. In this regard, the Sponsor referred to in the Paragraph 2(ii) above must act as the Sponsor of the Company for at least the first full financial year;
(vi) do such other acts or things as may be required by Bursa Securities;
(vii) announce the status of its regularisation plan and the number of months to the end of the relevant timeframes referred to in Rule 8.04(3) of the AMLR on a monthly basis until further notice from Bursa Securities;
(viii) announce its compliance or non-compliance with a particular obligation imposed pursuant to GN3 of the AMLR, on an immediate basis;
(ix) announce the details of the regularisation plan which announcement must fulfil the requirements set out in Paragraph 4.2 of the GN3 of the AMLR; and
(x) where the Company fails to regularise its condition, announce the dates of suspension and de-listing of its listed securities, immediately upon notification of suspension and de-listing by Bursa Securities.
3. CONSEQUENCES OF NON-COMPLIANCE
In the event the Company fails to comply with any part of its obligations in connection with the above, within the timeframes permitted by Bursa Securities, Bursa Securities may:
(i) suspend the trading of the Company’s listed securities on the 6th market day after the date of notification of suspension by Bursa Securities; and
(ii) de-list the Company subject to the Company’s right to appeal against the de-listing under Rule 8.04(6) of the AMLR which the Company must submit its appeal to Bursa Securities within 5 market days from the date of notification of de-listing by the Bursa Securities.
4. STATUS OF THE COMPANY’S REGULARISATION PLAN
On 22 August 2022, the Board of Directors of the Company announced that the Company has triggered Rule 8.03A(2)(b) of the AMLR, whereby the Company has insignificant business or operations. Therefore, the Company is being classified as an affected listed corporation pursuant to Rule 8.03A of the AMLR.
On 28 December 2022, the Board of Directors of the Company announced that TA Securities Holdings Berhad has been appointed as the Sponsor of the Company pursuant to Rule 8.04(3)(a)(ii) of the AMLR.
As the Company was already classified as an affected listed corporation pursuant to Rule 8.03A of the AMLR on 22 August 2022, it has approximately 7 months to submit its regularisation plan to the relevant authorities for the approval pursuant to Rule 8.04(3) of the AMLR. For clarity, the company’s 12-month deadline to submit a regularisation plan begins on 22 August 2022 (the date at which it was classified as an affected listed corporation pursuant to Rule 8.03A of the AMLR), even though it subsequently became a GN3 Company on 31 January 2023.
The Board of Directors is taking all necessary actions to formulate a regularisation plan to address its GN3 status and will make the necessary announcement on the regularisation plan in due course in accordance with the requirements of the AMLR.
This announcement is dated 31 January 2023.
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发表于 3-2-2023 08:40 AM
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