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Reference is made to the media release by Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 22 October 2021 on the directive issued to SERBADK in relation to the status of the Special Independent Review (“SIR”).
Bursa Securities wishes to re-iterate that, as stipulated in the Main Market Listing Requirements (“MMLR”), a listed issuer must make immediate public disclosure of any material information. Bursa Securities has advised SERBADK that the Factual Findings Update on the SIR as at 30 September 2021 (“Factual Findings Update”) is material information in accordance with paragraph 9.03 of the MMLR. Accordingly, it is imperative that this material information is disclosed comprehensively to the market in a timely manner. This is to provide clarity to the market to ensure an orderly and fair market.
Based on our understanding, softcopies of the Factual Findings Update were provided to the independent non–executive directors (“INEDs”) of SERBADK on 22 October 2021 and as requested by the INEDs, physical copies of the same were in addition, delivered to the INEDs on 23 October 2021.
Please note that SERBADK has not complied with the directive to make an announcement on the findings from the Factual Findings Update by 26 October 2021. Accordingly, the trading in SERBADK's securities shall be suspended with effect from 9.00 a.m., Wednesday, 27 October 2021.
As the trading in SERBADK’s securities has been suspended since 2.30 p.m., 22 October 2021, the suspension of trading will continue until further notice.
