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Pursuant to Paragraph 9.22(1) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) for MESDAQ Market (“MMLR”), SCAN is required to furnish its Unaudited Quarterly Financial Report for the Fourth Quarter Ended 31 December 2008 (“Q4 Results”) for public release not later than 2 months after the end of each quarter of a financial year (“Relevant Timeframe”), which falls on 27 February 2009.
Pursuant to Paragraph 9.26(4) of the MMLR, “if the Company fails to release the Q4 Results within three (3) months from the expiry of the Relevant Timeframe (the last day of this 3 month period shall hereinafter be referred to as “the Suspension Deadline”), in addition to any enforcement action that Bursa Securities may take, shall suspend trading in the securities of the Company. 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 outstanding financial statements unless otherwise determined by Bursa Securities”.
Pursuant to Paragraph 9.26(6) of the MMLR, “if the Company fails to issue the outstanding financial statements within six (6) months from the expiry of the Relevant Timeframe, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against the Company”.
Pursuant to Paragraph 9.23(1) of the MMLR, the Company must ensure that a research report is prepared and submitted to Bursa Securities, for public release, not later than 2 months after the end of each half of a financial year.
The Board of Directors of SCAN (“Board”) wishes to announce that the Company is unable to release its Q4 Results as the investigative audit (with reference to the announcement made on 22 January 2009) is currently in the process of being finalised to determine the financial impact to the financial statements of SCAN.
In view of the delay in the issuance of the Q4 Results, the Company is also unable to release its Research Report for the six (6) months period ended 31 December 2008 (“Research Report”). The Company targets to release the Q4 Results and the Research Report by 31 March 2009.
This announcement is dated 27 February 2009. |
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