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Dayang Enterprise Holdings Bhd ("Dayang" or "The Company") wishes to announce that based on the Company's Record of Depositors as at 31 March 2009, the public shareholding spread was 24.01% in the hands of 2,728 public shareholders holding not less than 100 shares each.
Accordingly, the Company has not complied with the public shareholding spread of 25% to be in the hands of the public pursuant to paragraph 8.15(1) of the Listing Requirements.
Bursa Malaysia Securities Berhad ("Bursa Securities") had on 1 December 2008 granted the Company an extension of time of six (6) months from 1 January 2009 until 30 June 2009 to comply with the Public Shareholding Spread Requirement.
The Company shall continue to explore various options to rectify the non-compliance with the public shareholding spread requirement, 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 has joined the Malaysian Investor Relations Association ("MIRA") and is participating in the Investor Relations Incentive Programme ("IRIP") which is a 2 years programme 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.
The actual course of action to be taken will depend, amongst others, the prevailing market conditions, market price of Dayang shares and availability of investors. At this point in time due to current uncertainties as a result of the meltdown in the global financial market, the Company has not been able to implement the options in order to comply with the public shareholding requirement.
The Company is in the process of submitting an application to Bursa Securities for an extension of time of 1 year until 30 June 2010 to comply with the required public shareholding spread pursuant to Paragraph 8.15(3) of the Listing Requirements of Bursa Securities.
This announcement is dated 27 May 2009. |
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