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We act for and on behalf of our client, HELP.
We, on behalf of HELP wish to announce that based on its Record of Depositors as at 29 June 2007, the Company did not comply with Paragraph 8.15(1) of the Listing Requirements of Bursa Malaysia Securities Berhad in relation to the public shareholding spread requirement which states that a listed company should have at least 25% of its issued and paid-up capital in the hands of a minimum of 1,000 public shareholders holding not less than 100 shares each. The public shareholding spread of the Company as at 29 June 2007 was 25% in the hands of 785 public shareholders holding not less than 100 shares each. The Company complied with the minimum public spread of 25% but did not meet the minimum public shareholders of 1,000.
The Company was just listed on the Second Board of Bursa Malaysia Securities Berhad on 22 May 2007. The Company is currently seeking ways to resolve this matter to comply with the public shareholding spread requirements.
Paragraph 8.15(3) of the Listing Requirements of Bursa Malaysia Securities Berhad states that the listed company may request for an extension of time to rectify the situation in the event a listed company fails to maintain the required shareholding spread.
The Company is in the process of submitting an application to Bursa Malaysia Securities Berhad for an extension of time of 3 months until 30 September 2007 to comply with the required public shareholding spread.
This announcement is dated 5 July 2007.
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