PUBLIC SHAREHOLDINGS SPREAD OCEAN VANTAGE HOLDINGS BERHAD
Type Announcement Subject PUBLIC SHAREHOLDINGS SPREAD Description OCEAN VANTAGE HOLDINGS BERHAD (OVH OR THE COMPANY) STATUS ANNOUNCEMENT ON COMPLIANCE WITH THE REQUIRED PUBLIC SHAREHOLDING SPREAD Reference is made to the Company’s announcement dated 27 July 2020, 25 August 2020 and 12 November 2020 in relation to the Company’s non-compliance with the public shareholding spread requirement pursuant to Rule 8.02(1) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”) (“Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.
The Board of Directors of OVH wishes to update that the Company has yet to meet the Public Shareholding Spread Requirement. As at the date of this announcement, the Company's public shareholding spread is 23.18%, representing a shortfall of 1.82% from the Required Public Spread.
Bursa Securities has vide its letter dated 11 November 2020 (“Approval Letter”) approved an extension of time of approximately 8 months from 24 July 2020 until 21 March 2021 (“Extension of Time”) to comply with the Required Public Spread.
The Company has yet to formulate a rectification plan to address the lower shareholding spread and will utilise the Extension of Time granted by Bursa Securities to work on a rectification plan to address the shortfall and to comply with the Required Public Spread.
The Company will continue to monitor the level of the public shareholding spread and will make the necessary announcement in relation to the status of the Required Public Spread in accordance with the Listing Requirements.
I still have faith in this company because of the following reasons: 1) Sarawak-based : will be given ample opportunities as Sarawak government is very keen on awarding contracts to sarawakians. 2) asset-light 3) experienced management. I know Mr Kenny personally. he is typical Sarawakian. down to earth and hard working. 08/02/2021 11:04 PM
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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....
jimboyz
200 posts
Posted by jimboyz > 2020-10-07 18:55 |
Post removed.Why?