We refer to the Company’s announcements dated 29 March 2012, 30 March 2012 and 5 April 2012.
On behalf of the Board of Directors of Carotech, HwangDBS Investment Bank Berhad wishes to announce that after due consideration of all facts and circumstances including the oral and written representations of Carotech, Bursa Malaysia Securities Berhad (“Bursa Securities”) has, vide its letter dated 8 May 2012, decided to:
(i) dismiss the Company’s appeal against the rejection of the application for an extension of time to comply with Guidance Note 3; and
(ii) dismiss the Company’s appeal and to de-list the securities of Carotech from the Official List of Bursa Securities pursuant to Rule 8.04 of Bursa Securities ACE Market Listing Requirements.
Accordingly, the securities of Carotech shall be removed from the Official List of Bursa Securities upon the expiry of 2 market days from the date of the letter i.e. on 11 May 2012.
With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.
Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from their Central Depository System accounts maintained with Bursa Depository at anytime after the securities of the Company have been de-listed from the Official List of Bursa Securities by submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures.
Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company’s performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.
This announcement is dated 8 May 2012.