Pharmaniaga gets 3-month extension to carry out regularisation plan

 Pharmaniaga Bhd faces possible delisting if it fails to carry out the regularisation plan within the extended time frame.

Pharmaniaga said if it fails to carry out the regularisation plan within the given time frame, Bursa Securities will serve the company with a suspension notification.

KUALA LUMPUR:

 Bursa Malaysia Securities Bhd (Bursa Securities) has granted Pharmaniaga Bhd a three-month extension up to Aug 29 to implement its regularisation plan.

“The extension of time granted is without prejudice to Bursa Securities’ right to proceed to suspend the trading of Pharmaniaga’s listed securities and to delist the company in the event it fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities,” the company said in a filing with Bursa Malaysia.

Pharmaniaga said if it fails to carry out the regularisation plan within the given time frame, Bursa Securities will serve the company with a suspension notification before suspending trading of listed securities on the sixth market date from the suspension.

Pharmaniaga will then be delisted, subject to the company’s right to appeal against the delisting, it said. - FMT