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Public Shareholding Spread Requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad *("Bursa Securities")

BackOct 26, 2009
Date Announced
:
26/10/2009  



Type
:
Announcement
Subject
:
Dayang Enterprise Holdings Bhd ("Dayang" or "The Company")
- Public Shareholding Spread Requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad *("Bursa Securities")

Contents
:
The Company wishes to announce that the public shareholding spread of the Company based on the Record of Depository as at 30th September 2009 was 24.01%.

Accordingly, the Company has not complied with the minimum public shareholding spread of 25% to be in the hands of the public pursuant to Paragraph 8.02(1) of the Main Market Requirements of Bursa Malaysia Securities.

Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 3 July 2009 granted the Company a further extension of time of six (6) months until 31 December 2009 to comply with the shareholding spread requirement.

The Company shall continue to take appropriate steps to rectify the required public shareholding spread which amongst others, the following:

1. To advise Directors and substantial shareholders and/or their associates to sell down their shares and to refrain from increasing their shareholdings until the Company had regularised its public shareholding spread requirement.

2. To encourage direct contact with potential investors by creating better awareness and understanding of the Company's business by updating them with the Company's performance and growth in the near future.

3. To improve shareholders and investors relationship by improving publicity of the Company and a wider circulation of the Company's information via timely announcements as and when there are matters to be announced by the Company.

4. The Company is a Member of the Malaysian Investor Relations Association ("MIRA") and is participating in the Investor Relations Incentive Program ("IRIP") which is a two years program under Bursa Malaysia Securities Berhad ("Bursa Securities"). This will assist the Company to build an Investor Relations portal in the company's website to reach out to more investors, stock brokers, analysts and media representatives.

However, the actual course of action to be taken will depend, amongst others, the prevailing market condition, market price of Dayang shares and the availability of investors.

This announcement is dated 26 October 2009.