KUALA LUMPUR (Oct 24): OCK Group Bhd announced today that the Securities Commission (SC) has approved its proposed transfer from the ACE Market to Bursa Malaysia's Main Market.
In a filing with the local bourse today, the telecommunications network services provider said the SC had, vide its letter dated Oct 21 (Tuesday), informed them on the decision.
Citing the letter, OCK said the SC had approved the proposed listing transfer under section 214(1) of the Capital Market and Services Act 2007 (CMSA) as well as under the equity requirement for public companies.
It added that the SC had also approved the application for the proposed lifting of the moratorium on the OCK Shares held by Aliran Armada Sdn Bhd, Ooi Chin Khoon, Abdul Halim bin Abdul Hamid, Low Hock Keong, Chang Tan Chin and Chong Wai Yew in conjunction with the proposed transfer.
"The lifting of the moratorium is to be effective on the date of the official listing of OCK on the Main Market of Bursa Malaysia Securities Berhad," the filing read.
OCK had on May 14 expressed its intention to transfer its listing and quotation for the entire issued and paid up capital from ACE Market to the Main Market of Bursa.
At mid-day, OCK inched up 9 sen or 6.57% to RM1.46 with some 2.19 million shares changing hands, giving it a market capitalisation of RM499.14 million