HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
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APPLICATION TO BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") IN RELATION TO PRACTICE NOTE 17/2005 ("PN17") OF THE LISTING REQUIREMENTS OF BURSA SECURITIES FOR AN EXTENSION OF TIME FOR HO HUP TO SUBMIT A REVISED REGULARIZATION PLAN TO THE RELEVANT AUTHORITIES ("PROPOSED EXTENSION OF TIME")
Contents:
Reference is made to the Company's announcement dated 22 January 2010 whereby it was announced that the Company had submitted an application to Bursa Securities seeking its approval for the Proposed Extension of Time, which involves an extension of time for the Company to submit a revised regularization plan to the relevant authorities pursuant to the provisions of PN17 of Bursa Securities' Listing Requirements.
Following the above, Bursa Securities had vide their letter dated 3 February 2010, granted an extension of time of two (2) months up to 4 April 2010 ("Extended Timeframe") for the Company to submit a revised regularization plan to the relevant authorities pursuant to the provisions of PN17 of Bursa Securities' Listing Requirements ("Bursa Approval").
As stated within the Bursa Approval, the extension of time granted to Ho Hup is without prejudice to Bursa Securities' right to proceed to suspend the trading of the securities of the Company and to commence de-listing procedures against the Company in the event:-
(a)
the Company is unable to submit its regularization plan to the relevant authorities for approval within the Extended Timeframe;
(b)
the Company fails to obtain the approval from any of the approving authorities necessary for the implementation of its regularization plans and does not appeal to the approving authorities within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;
(c)
the Company does not succeed in its appeal against the decision of the approving authorities; or
(d)
the Company fails to implement its regularization plan within the timeframe or extended timeframes stipulated by the approving authorities.
