We refer to the announcement made by the Company on 25 May 2009 on the above matter, whereby the Company had announced that it did not meet the requirements set out in Paragraph 8.15 (1) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”).
In compliance with Practice Note No. 19/2006 of the Listing Requirements of Main Market (“Main LR”) of Bursa Securities, the Company wishes to announce that the public shareholding spread of the Company as at 12 August 2009 was 42,571,617 shares representing 23.78% of the total shares issued held in the hands of 2,644 public shareholders, each holding not less than 100 shares each. Accordingly, the Company does not fully comply with the public shareholding spread requirements pursuant to Paragraph 8.02 of the Main LR of Bursa Securities which state that a listed company must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders (“Public Shareholding Spread Requirement”).
Bursa Securities and the Securities Commission have via their letters dated 15 April 2009 and 17 April 2009, respectively, granted an extension of time up to 7 October 2009 to comply with the Public Shareholding Spread Requirement.
The Company’s controlling shareholder, Brahim’s International Franchises Sdn Bhd is endeavouring to meet the Public Shareholding Spread Requirement before the deadline.
This announcement is dated 26 August 2009.