Business

Saturday November 21, 2009

Bursa proceeds to de-list Nepline


PETALING JAYA: Bursa Malaysia has decided to disallow Nepline Bhd’s appeal and will proceed to de-list the company’s securities effective Dec 3, the company said in a stock exchange filing.

Bursa said upon the de-listing, Nepline would continue to exist but as an unlisted entity.

Nepline, a PN17-status company, has been suspended since Sept 11 as it has failed to submit its regularisation plan to the Securities Commission and other relevant authorities for approval within the timeframe stipulated by Bursa.

“Securities of Nepline that are currently deposited with Bursa Malaysia Depository Sdn Bhd may remain deposited there.

“Alternatively, shareholders of Nepline who intend to hold their securities in the form of physical certificates can withdraw these securities from their central depository system anytime after the company has been de-listed,” the company said.

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