KLSE placed Innosabah under trading restriction on 29 April 1998 to give Innosabah the opportunity to improve its financial position in providing a secure conduit for investors to access the stockmarket.
The trading restrictions imposed on Innosabah since 29 April 1998 include:- Innosabah was allowed to conduct or execute only selling transactions; Innosabah was allowed to conduct or execute purchase transactions only upon receipt of 100% up front payment; Margin purchases were prohibited; Direct business transactions were prohibited; and Any other form of activities which might increase the potential risk or exposure to Innosabah were also prohibited.
The decision to uplift the trading restrictions were made after Innosabah was able to demonstrate to the satisfaction of the Securities Commission and KLSE that it has regularised its financial position and fully complied with KLSE's minimum financial requirements.
The regularisation of Innosabah's financial position came about upon the successful implementation of the Workout Proposal with their creditors pursuant to Section 24 of the Pengurusan Danaharta Nasional Berhad Act 1998.
With the upliftment of the trading restrictions, Innosabah may resume normal trading activities as allowed under the Rules of the KLSE.
