We refer to our announcement dated 16 January 2009 whereby the Bursa Securities had vide its letter dated 14 January 2009 granted the Company a further extension of time of six (6) months from 2 January 2009 until 1 July 2009 to comply with the public shareholding spread requirement pursuant to Rule 8.15(1) of the MMLR.
Based on the Record of Depository as at 30 January 2009, the public shareholding spread of the Company was as follows:
1. | Percentage (%) of public shareholdings | 44.97% |
2. | Number of Public Shareholders holding not less than 100 shares | 655 |
3. | Number of Shares held by public | 89,930,512 |
The Company has complied with the minimum public shareholding spread of 25% but does not comply with the minimum of 1,000 public shareholders pursuant to Rule 8.15(1) of the MMLR.
The Company will continue to take various steps to meet the public shareholding spread which include, amongst others, the following:
a) The Management has planned to engage experienced freelance investor relation specialist to organise briefing for potential investors and to promote equity participation in the Company. This plan is being crafted by the Management for the year 2009.
b) The Company intends to conduct a briefing to its major shareholders to sell down some of their shares in SCAN and try not to accumulate more SCAN’s shares until the required public shareholding spread is met.
c) The Company will encourage the employees as well as persons connected with them to invest in the shares of the Company for long term investment purpose by enhancing communication with them and updating them on the Company’s performance and future prospects.
d) The Company is taking steps in increasing its market interest and public awareness among investor community and general public through series of investor relations program such as press release, analyst and media briefings, investors’ dialogues, and constant communication with research houses to encourage them to initiate research coverage on the Company.
This announcement is dated 27 February 2009.