Versatile share trade to be suspended if it fails to submit annual report

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KUALA LUMPUR (Aug 3): Trading in Versatile Creative Bhd shares will be suspended on Wednesday (Aug 8) if the packaging solutions provider fails to submit its latest annual report by Tuesday (Aug 7).

According to a statement today on Bursa Malaysia's website, Versatile had failed to submit its annual report for financial year ended March 31, 2018 (AR 2018) to Bursa Malaysia for public release by the Tuesday (July 31) deadline.

"Pursuant to paragraph 9.28(5) of the LR (listing requirements), if a listed issuer fails to issue the outstanding financial statements within five market days after the expiry of the relevant timeframes stated in paragraph 9.23(1) of the LR (the last day of the five market days is referred to as suspension deadline), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the securities of such listed issuer. The suspension shall be effected on the next market day after the suspension deadline.

"In the event that the company is still unable to submit the AR 2018 by Aug 7, 2018, trading in the company's shares will be suspended with effect from 9.00am, Wednesday, Aug 8, 2018 pursuant to paragraph 9.28(5) of the Main Market Listing Requirements until further notice. Pursuant to paragraph 9.28(6) of the LR, if a listed issuer fails to issue the outstanding financial statements within six months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against such listed issuer," the statement said.

At 12:30pm today, Versatile shares settled at 45 sen for market capitalisation of RM 58.73 million. The stock saw 64,200 shares units traded.