https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3492846

REACH ENERGY BERHAD ("REB" OR THE "COMPANY")

APPLICATION FOR AN EXTENSION OF TIME TO SUBMIT A REGULARISATION PLAN TO THE RELEVANT AUTHORITIES TO REGULARISE THE FINANCIAL CONDITION OF REB PURSUANT TO PRACTICE NOTE 17 OF THE MAIN MARKET LISTING REQUIREMENRS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS")
(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 3 April 2023 and 4 April 2023 in relation to the classification of the Company as an affected listed issuer under PN17, where applicable, unless stated otherwise or defined herein)

Reference is made to the announcement dated 18 September 2024 in relation to the application to Bursa Securities for an extension of time up to 2 April 2025 for the Company to submit a regularisation plan to the relevant authorities.

On behalf of the Board of Directors of REB, TA Securities Holdings Berhad wishes to announce that Bursa Securities had vide its letter dated 18 October 2024 resolved to grant the Company a further extension of time of 6 months up to 2 April 2025 to submit its regularisation plan to the relevant regulatory authorities for approval.

The extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of the Company and to de-list the Company in the event:

(i) the Company fails to submit its regularisation plan to the relevant regulatory authorities on or before 2 April 2025;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of the Company on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting.


This announcement is dated 21 October 2024.

hongkie majority shareholder paid 20 sen per share... think they are coming up with turn around plan to exit PN17 no?

The Board of Directors of REB wishes to announce that Crowe Malaysia PLT (LLP0018817-LCA) & AF1018, having given their consent to act as external auditors of the Company for the financial year ending 31 December 2024, be appointed as external auditors of the Company on 23 July 2024 and shall hold office until the conclusion of the next Annual General Meeting of the Company.

This announcement is dated 23 July 2024.

Any thoughts @TheContrarian?

Why was Ordinary Resolution 6 appointment of PwC was withdrawn?

Yes, agreed with you Robert Waters! Word of reason. Very insightful.

Good to hear from you TheContrarian! Been a while!!

@raymondroy I wonder your former boss who was the former CEO of the company before the Chinese investor took over didn't do due diligence before buying?

aiyooo.. auditor didn't find that ka? i understand the clean auditors report issued ma..

moving...

waaaaaahhh B4b4 you promoter Reach ka?? ;)

M&A ka?

wow whats happening to THPlant?

@TheContrarian whats your take?

oh the previous ceo just dumped his shares... weird guy

wow somebody just dumped??

hahahaha green but no 'GO' wor.... still got hopeful people tho...

wow still got hopeful people!!

hope this Q will be green Quarter!!!

and ceo resigned! haiyaaaaa.... @TheContrarian what's up with this company??

lol.. @TheContrarian I like your building up the suspense..... like horror movies or Game of Thrones :)

waahh so excited @TheContrarian?? hehehehe

@TheContrarian i read i their report that Reach is selling at way lower than market Brent price due to the Ukraine War... their oil got tagged as Russian and with sanctions from the west and no alternative routes to offload, revenue is apparently affected

@TheContrarian will be laughing all the way to the bank soon?? ;)

touched 5.5!! nice nice

wah touched 5 sen oledy...!! mmmm nice

@THE ROCK i think price will start to go up once the next Q announcement remains positive... if can get accumulated losses turn retained earnings only the value will realise in my opinion..

hahahah sweet dreams...

Not bad for a start! Can sleep now

MGO makes sense! but I remember SC gave them approval to do the deal without having to do MGO rite?

what multiple you reckon @TheContrarian??

OMG!!!!! Seriously????

hard climb... more like descending....?? lol

Now you mentioned it... 62 mil... something brewing... could be green this coming Qtr announcement? possible??

why do you say that @TheContrarian? Can share your thoughts?

its a flat road or flat line so far ;)

3 sen oledy... road to 1 sen meh

who's buying?

lai lai... come to papa....

AGM around the corner... can go and ask?

what happened to volume this am? 935 am already 11 mil???

see Q1 results announcement?? Don't think the new Honkie owner is that silly...

snnoooooooooozeeeeee....... lol

@izoklse I tot the board has already denied the news? Unless Bursa query them again.

collecting.... how about you @TheContrarian??

Thanks @TheContrarian! Learnt something new today!!

@JuliusCeaser what can syndicates do? sorry silly question :)

MIEH 40% not his?

Honkie already controlled Reach at circa 68% already right @TheContrarian? Just need another 7% friendly party? (or God-knows-what?? huhuhuhu)

@jasontan1177 when they sell the asset (at a good price), ikan bilis will be rewarded too no? or else SC would have asked them to do Mandatory General Offer?