OTHERS MULTI SPORTS HOLDINGS LTD ("MSPORTS" OR "THE COMPANY") REJECTION OF THE APPLICATION FOR AN EXTENSION OF TIME BY THE COMPANY TO RELEASE ANNUAL REPORT THAT INCLUDES ANNUAL AUDITED FINANCIAL STATEMENTS TOGETHER WITH THE AUDITORS AND DIRECTORS REPORTS IN RESPECT OF THE FINANCIAL YEAR ENDED 30 JUNE 2019 ("ANNUAL REPORT 2019")
| MULTI SPORTS HOLDINGS LTD |
| Type | Announcement |
| Subject | OTHERS |
| Description | MULTI SPORTS HOLDINGS LTD ("MSPORTS" OR "THE COMPANY")
REJECTION OF THE APPLICATION FOR AN EXTENSION OF TIME BY THE COMPANY TO RELEASE ANNUAL REPORT THAT INCLUDES ANNUAL AUDITED FINANCIAL STATEMENTS TOGETHER WITH THE AUDITORS AND DIRECTORS REPORTS IN RESPECT OF THE FINANCIAL YEAR ENDED 30 JUNE 2019 ("ANNUAL REPORT 2019")
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The Board of Directors of MSPORTS wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) via its letter dated 18 October 2019 informed the Company that Bursa Securities has resolved to reject the Company’s Application to delay the issuance of the Annual Report 2019 by 31 October 2019 as required under Paragraph 9.23(1) of the Main Market Listing Requirement (“MMLR”) of Bursa Securities (“Relevant Timeframe”) to 31 December 2019.
Pursuant to Paragraph 9.28(3) of the MMLR of Bursa Securities, the Board of Directors of MSPORTS wishes to announce the following:
(a) The reason for failing to issue the Annual Report 2019 within the Relevant Timeframe to Bursa Securities was due to resignation of the former auditors of the Company, Messrs RT LLP vide their notice of resignation dated 28 November 2018 which was received by the Company on 31 December 2018, and subsequent difficulties in finding and appointing a new auditor to take over. Messrs. RT LLP was disqualified by Securities Commission of Malaysia’s Audit Oversight Board from undertaking any audit work for listed companies in Malaysia.
(b) In the event the Company fails to submit the Annual Report 2019 within 5 market days after the expiry of the Relevant Timeframe, i.e. by 7 November 2019, the suspension of trading on the Company’s ordinary shares will be effected by Bursa Securities on the next market day i.e. at 9.00 a.m. on 8 November 2019 (“Suspension Deadline”) after the expiry of 5 market days from the Relevant Timeframe, in addition to any enforcement action that Bursa Securities may take.
(c) The suspension shall be effected on the market day following the expiry of the Suspension Deadline and shall be uplifted on the market day following the issuance of the Annual Report 2019 unless otherwise determined by Bursa Securities.
(d) Pursuant to Paragraph 9.28(6) of the MMLR, if MSPORTS fails to issue the Annual Report 2019 within 6 months from the Relevant Timeframe, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against MSPORTS. However, the de-listing procedures also are subject to submission of a regularization plan by 13 November 2019, as announced by the Company on 1 October 2019.
(e) The Company has identified a new auditor willing to take on the role but the appointment still has to be finalised. The Company hopes to be in a position to issue the Annual Report 2019 to Bursa Securities and the shareholders by 31 January 2020.
This announcement is dated 22 October 2019.
VVVVVVVVVV 等明年2020年1月31日的公布吧。。。 中国的名声都被红筹股丢尽了！ 中国大骗子通过红筹股大骗钱，已经是 街知巷闻！ | |
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