Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Feb 15): Anzo Holdings Bhd shares plunged as much as 75% to half a sen in early morning trade on Wednesday (Feb 15), a week ahead of its suspension on Feb 21, after it was granted further extension until April 30 to submit its regularisation plan to the relevant authorities. 

The counter saw 19.88 million shares change hands.

Anzo, which has been classified as an affected listed issuer, told Bursa Malaysia on Tuesday the extension is subject to the appointment of a principal adviser by the loss-making integrated contractor and timber service provider by March. 

In the meantime, trading of Anzo shares will be suspended from Feb 21. 

Anzo faces a delisting if it fails to submit its regularisation plan within the extended time frame, or fails to obtain approval and implement the plan within a time frame stipulated by the authorities. 

Last year, Anzo was granted a six-month extension, from April 10 to Oct 31, to submit its regularisation plan 

On Oct 31, the group applied for a further six-month extension until April 30 this year to submit the plan. 

Anzo was classified as an affected listed issuer in October 2019, after its revenue on a consolidated basis represented 5% or less of its share capital based on the unaudited financial statements for the financial year ended July 31, 2019. 

      Print
      Text Size
      Share