Southern Score to exit GN3 status following completion of regularisation plan

KUALA LUMPUR (Nov 8): Southern Score Builders Bhd (SSB) will have its Guidance Note 3 (GN3) status lifted from Wednesday (Nov 9) following the completion of its regularisation plan.

"SSB has regularised its financial condition and level of operations, and no longer triggers any of the criteria under Rule 2.1 of GN3 of the ACE Market Listing Requirements.

"After due consideration of all facts and circumstances of the matter, Bursa Malaysia Securities Bhd has decided to approve SSB's application for an upliftment from being classified as a GN3 company," the group said in a filing with the stock exchange.

Additionally, Bursa notified through a media statement that the stock number (0045) and the stock short name (SSB8) for SSB remain unchanged.

However, due to a change in the group's business activity and the core business activity contribution to the group's financial results, the new sector and sub-sector for SSB will be "construction" for both categories.

SSB, formerly known as G Neptune Bhd, triggered the GN3 criteria in late 2017.

On Sept 13 this year, the group acquired Southern Score Bhd for RM252 million through the issuance of 1.68 billion shares, as part of its regularisation plan.