History Date Price Change Dir-Volume Day Volume Dir-Value Day Value Avg Price % of Total Share Remarks 06/11/2019 00:00:00 0.3400 0.1400 1.500m 1.500m 510,000 510,000 0.3400 0.1030 -
Ayala will ensure the price to rise to resolve this issue.
PUBLIC SHAREHOLDINGS SPREAD
MCT BERHAD TypeAnnouncementSubjectPUBLIC SHAREHOLDINGS SPREAD DescriptionMCT BERHAD ("MCT") OR THE "COMPANY") STATUS ANNOUNCEMENT ON PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 3.3 OF PRACTICE NOTE 19 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
(Unless otherwise defined, the definitions set out in the announcements dated 6 February 2018, 21 March 2018, 29 March 2018, 30 May 2018, 24 July 2018, 1 August 2018, 22 November 2018, 17 January 2019, 30 January 2019, 28 May 2019, 8 July 2019 and 9 August 2019 (“Announcements”) shall apply herein.)
We refer to the Company’s Announcements in relation to the non-compliance of the Required Public Spread pursuant to Paragraph 8.02(1) of the Listing Requirements and the Board of Directors of MCT wishes to announce that Bursa Securities had vide a letter dated 9 August 2019 granted the Company a further extension of time of six (6) months until 4 February 2020 to comply with the Required Public Spread.
As at 15 November 2019, the public shareholdings spread was 24.59%. The Company currently does not meet the requirement as set out in paragraph 8.02(1) of the Listing Requirements which states that a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders.
To rectify the non-compliance with the Required Public Spread, the Company is exploring various options including:
a. Discussing with the Company’s major shareholders on the possibility of selling-down its shareholding to public shareholders;
b. Engaging with investment banks to identify potential public investors to increase public spread via a private placement; and
c. Intensifying communication with potential investors, analysts, research houses and shareholders to instil investor confidence and create better awareness and understanding of the Company’s business to increase take up of shares while retaining public shareholders in the Company.
The Company will continue to monitor the level of public shareholdings and make the necessary announcement in relation to the status of compliance with the Required Public Spread in accordance with the Listing Requirements.
As at 15 November 2019, the public shareholdings spread was 24.59%. The Company currently does not meet the requirement as set out in paragraph 8.02(1) of the Listing Requirements which states that a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders.
We refer to the Company’s Announcements in relation to the non-compliance of the Required Public Spread pursuant to Paragraph 8.02(1) of the Listing Requirements and the Board of Directors of MCT wishes to announce that Bursa Securities had vide a letter dated 9 August 2019 granted the Company a further extension of time of six (6) months until 4 February 2020 to comply with the Required Public Spread.
As at 15 November 2019, the public shareholdings spread was 24.59%. The Company currently does not meet the requirement as set out in paragraph 8.02(1) of the Listing Requirements which states that a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders.
To rectify the non-compliance with the Required Public Spread, the Company is exploring various options including:
a. Discussing with the Company’s major shareholders on the possibility of selling-down its shareholding to public shareholders; b. Engaging with investment banks to identify potential public investors to increase public spread via a private placement; and c. Intensifying communication with potential investors, analysts, research houses and shareholders to instil investor confidence and create better awareness and understanding of the Company’s business to increase take up of shares while retaining public shareholders in the Company.
The Company will continue to monitor the level of public shareholdings and make the necessary announcement in relation to the status of compliance with the Required Public Spread in accordance with the Listing Requirements.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Victor Yong
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Posted by Victor Yong > 2019-11-22 09:10 | Report Abuse
recent direct business deal at 34sen
History
Date Price Change Dir-Volume Day Volume Dir-Value Day Value Avg Price % of Total Share Remarks
06/11/2019 00:00:00 0.3400 0.1400 1.500m 1.500m 510,000 510,000 0.3400 0.1030 -