Inch Kenneth Kajang Rubber Statement re Intention to Cancel Listing (8849S)
06 Octobre 2017 - 6:30PM
UK Regulatory
TIDMIKK
RNS Number : 8849S
Inch Kenneth Kajang Rubber
06 October 2017
Inch Kenneth Kajang Rubber Public Limited Company
(UK Registration No. SC007574/ Malaysian Company No:
990261-M)
(Incorporated in Scotland under the Companies (Consolidation)
Act, 1908 and
registered in Malaysia as a foreign company under the Companies
Ordinances, 1940 to 1946)
Intended Cancellation of Ordinary Shares from Listing on the
Official List and of Admission to Trading on the London Stock
Exchange
Inch Kenneth Kajang Rubber Public Limited Company (the "Company"
or "IKKR") hereby announces that the Company has resolved, at a
meeting of its Board of Directors held on 6 October 2017, to
request the cancellation of the standard listing of IKKR ordinary
shares of GBP0.10 per share (ISIN: GB0004601091) ("Shares") on the
Official List of the UK Listing Authority ("UKLA") and the
cancellation of the admission to trading of the Shares on the Main
Market of the London Stock Exchange ("LSE") (together, the
"Delisting"). The details are as follows:
Reasons for Delisting
The Company has decided to apply for voluntary Delisting of its
Shares from the LSE in order to streamline administrative
procedures and to reduce management costs from listing on multiple
stock exchanges. As the volume of trading in the Shares on the LSE
is low and the Shares will continue to be traded on Bursa Malaysia,
the Company believes the impact on its shareholders from Delisting
from the LSE will be minimal.
Effect of the Delisting
Shareholders will no longer be able to buy and sell Shares on
the Main Market of the LSE following the Delisting.
Following the Delisting, the Company will no longer be required
to comply with the continuing obligations set out in the UK Listing
Rules, the UK Disclosure Guidance and Transparency Rules or the EU
Market Abuse Regulation. In addition, the Company will no longer be
subject to the provisions of the UK Disclosure Guidance and
Transparency Rules relating to the disclosure of changes in
significant shareholdings in the Company.
The Company will maintain its listing on Bursa Malaysia and
Singapore Stock Exchange Securities Trading Limited ("SGX-ST"), and
as such, continue to be subject to the rules and regulations of the
Bursa Malaysia Securities Berhad ("BMSB") and SGX-ST, and all other
laws, rules and regulations applicable to a company with shares
listed on Bursa Malaysia and SGX-ST. In addition, the Company will
continue to be subject to the UK Companies Act 2006 and all other
United Kingdom laws and regulations to the extent applicable to a
public company incorporated in Scotland with shares listed on Bursa
Malaysia and SGX-ST.
Following the Delisting, the Company will remain a public
limited company incorporated in Scotland but its securities will
not be admitted to trading on a regulated market in the United
Kingdom. The Company will continue to prepare its consolidated
United Kingdom statutory accounts under International Financial
Reporting Standards and in accordance with the applicable
requirements of the UK Companies Act 2006.
Expected Delisting Schedule
In accordance with Financial Conduct Authority Listing Rule
5.2.8, the Company is required to give at least 20 business days'
notice of the intended Delisting. An application has been made
today to the UKLA for the Shares to be removed from the Official
List, and to the LSE for the Shares to be removed from trading on
the Main Market. The Company's proposed date of Delisting is 6
November 2017. It is expected that trading on the Main Market in
the Shares will cease at the close of business on 3 November 2017
with the Delisting becoming effective from 8.00 a.m. (London time)
on 6 November 2017.
The Company will maintain its listings on Bursa Malaysia and
SGX-ST.
Queries in regards to the transfer of the Shares to Bursa
Malaysia may be directed to:
FA Securities Sdn Bhd
A-10-1 and A-10-17,
Level 10, Menara UOA Bangsar,
No 5 Jalan Bangsar Utama 1,
Bangsar,
59000 Kuala Lumpur.
Tel: +603 2288 1676
Fax: +603 2282 2571
Email: info@fasec.com.my
Website : www.fasec.com.my
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 06, 2017 12:30 ET (16:30 GMT)
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