KUALA LUMPUR (April 8): Practice Note 17 (PN17) company Brahim’s Holdings Bhd shares slumped as much as 8.5 sen or 73.91% to three sen on Friday (April 8) after the regulator rejected its application for an extension of time to submit its regularisation plan.
At 10.43am, the counter had pared losses at five sen, still down 6.5 sen or 56.52%. At five sen, it was valued at RM21.5 million.
The counter was the most actively traded stock, with 128.51 million shares done.
Year to date, the counter has tumbled 44.44%.
Brahim’s said in a bourse filing on Thursday that following the rejection by the stock exchange operator, shares in the airline caterer will be suspended from trading effective April 15.
Brahim’s securities will be delisted on April 20 unless an appeal against the delisting is submitted to Bursa Securities on or before April 14.
Any appeal submitted after the time frame will not be considered by Bursa Securities, the company added.
It also said in the event it submits an appeal to Bursa Securities within the appeal time frame, the delisting of its securities from the official list of Bursa on April 20 will be deferred, pending the decision on the company’s appeal.
However, it said Bursa Securities shall proceed to suspend trading of the company’s securities on April 15 even though the decision on the company’s appeal is still pending.