We refer to our announcement dated 24 December 2008 in relation to the above.
The Board of Directors of SCAN wishes to announce that Bursa Securities has 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.
The public shareholding spread of the Company as at 5 December 2008 was as follows:
1. | Percentage (%) of public shareholdings | 44.91% |
2. | Number of Public Shareholders holding not less than 100 shares | 662 |
3. | Number of Shares held by public | 89,823,312 |
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 16 January 2009.