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MAIN MARKET LISTING REQUIREMENTS
ACE MARKET LISTING REQUIREMENTS
[MAIN LR] PRACTICE NOTE 2 - REQUESTS FOR SUSPENSION
MAIN MARKET LISTING REQUIREMENTS
TABLE OF CONTENTS
CHAPTER 1 - DEFINITIONS AND INTERPRETATION
CHAPTER 2 - GENERAL
CHAPTER 3 - ADMISSION
CHAPTER 4 - ADMISSION FOR SPECIFIC APPLICANTS
CHAPTER 4A - FOREIGN LISTING
CHAPTER 4B - LISTING OF SUKUK AND DEBT SECURITIES
CHAPTER 5 - STRUCTURED WARRANTS
CHAPTER 6 - NEW ISSUE OF SECURITIES
CHAPTER 7 - ARTICLES OF ASSOCIATION
CHAPTER 8 - CONTINUING LISTING OBLIGATIONS
CHAPTER 9 - CONTINUING DISCLOSURE
CHAPTER 10 - TRANSACTIONS
CHAPTER 11 - TAKE-OVER & MERGERS
CHAPTER 12 - SHARE BUY-BACKS
CHAPTER 13 - ARRANGEMENTS AND RECONSTRUCTIONS
CHAPTER 14 - DEALINGS IN SECURITIES
CHAPTER 15 - CORPORATE GOVERNANCE
CHAPTER 16 - SUSPENSION, DE-LISTING AND ENFORCEMENT
PRACTICE NOTE 1
PRACTICE NOTE 2
PRACTICE NOTE 3
PRACTICE NOTE 4
PRACTICE NOTE 5
PRACTICE NOTE 6
PRACTICE NOTE 7
PRACTICE NOTE 8
PRACTICE NOTE 9
PRACTICE NOTE 10
PRACTICE NOTE 11
PRACTICE NOTE 12
PRACTICE NOTE 13
PRACTICE NOTE 14
PRACTICE NOTE 15
PRACTICE NOTE 16
PRACTICE NOTE 17
PRACTICE NOTE 18
PRACTICE NOTE 19
PRACTICE NOTE 20
PRACTICE NOTE 21
PRACTICE NOTE 22
PRACTICE NOTE 23
PRACTICE NOTE 24
PRACTICE NOTE 25
PRACTICE NOTE 26
PRACTICE NOTE 27
PRACTICE NOTE 28
PRACTICE NOTE 29
PRACTICE NOTE 30
PRACTICE NOTE 31
[ As at 3 August 2009 ]
BURSA MALAYSIA SECURITIES BERHAD
PRACTICE NOTE 2
REQUESTS FOR SUSPENSIO
1 June 2001
3 August 2009
Suspension in the trading of securities ("
") may be effected under any of the circumstances set out in paragraphs 16.02 and 16.03 of the Listing Requirements.
Suspensions may be effected at the request of the listed issuer or imposed by the Exchange independently of any such request subject to the relevant requirements set out in this Practice Note.
This Practice Note clarifies the operational procedures in respect of a request for suspension made by listed issuers.
Form and information for a request for suspension
Any request for suspension must be made in writing and in the form of
. In the addition, a listed issuer must provide to the Exchange any other information as may be requested by the Exchange.
The request for suspension must be signed by a member of the listed issuer's senior management such as the company secretary, managing director or chief executive who is duly empowered to do so by the board of directors of the listed issuer.
The Exchange will only consider a request for suspension where the information requested pursuant to paragraph 2.1 has been fully and completely provided.
Situations which may warrant suspension
The Exchange may approve a listed issuer's request for suspension where -
the listed issuer requires time to prepare and release an announcement relating to a material transaction, such as -
a very substantial transaction as defined in
of the Listing Requirements;
a significant change in the business direction or policy of a listed corporation; or
any other corporate exercise which the Exchange considers to be material;
the listed issuer intends to -
make a material announcement, including one that falls within paragraph 3.2 below ("
Very Material Announcement
hold a press conference to make a Very Material Announcement,
before the close of trading; or
any other reason which, in the opinion of the Exchange, justifies a suspension.
Without limiting the above, an announcement relating to any of the following matters will be regarded as a Very Material Announcement:
an interim financial report;
a bonus issue or fund raising exercise;
a transaction as defined under paragraph 10.02(l) of the Listing Requirements, where the percentage ratio calculated in accordance with
of the Listing Requirements is 25% or more;
a notice of take-over being served on a listed issuer which the public has no prior knowledge of; or
any other corporate exercise.
A listed issuer should not request for a suspension if it relates to a corporate exercise where the facts are still in a state of flux and no disclosure can yet be made.
Suspension period and announcement timeframe
If the Exchange grants a suspension for any of the reasons stated in paragraph 3.1, the period of suspension that may be approved by the Exchange is -
up to 3 market days only where the reason for suspension falls within the ambit of paragraph 3.1(a);
up to 1 market day only where the reason for suspension falls within the ambit of paragraph 3.1(b); and
such other period as deemed appropriate by the Exchange where the reason for suspension falls within the ambit of paragraph 3.1(c).
For the purposes of computation of the period of suspension -
if a suspension is effected at 9.00 a.m., the day the suspension is effected will be counted as 1 market day; or
if a suspension is effected after 9.00 a.m., the day suspension is effected will not be counted as 1 market day of suspension.
If a suspension is granted by the Exchange under paragraph 3.1(a), the listed issuer must announce the relevant information to the Exchange on or before the expiry of the period of suspension that is approved by the Exchange pursuant to paragraph 4.1.
If a suspension is granted by the Exchange under paragraph 3.1(b), the listed issuer must announce the relevant information to the Exchange on the day suspension is requested to take effect.
If a suspension is granted by the Exchange under paragraph 3.1(c), the listed issuer must announce the relevant information to the Exchange on such date as may be specified by the Exchange.
A listed issuer should submit its request for suspension at least 1 hour before the time suspension is requested to commence. For the purpose of this paragraph, the "
" means any 1 hour between 9 a.m. to 1 p.m. and 2 p.m. to 5.30 p.m.
Where the Exchange decides to allow a suspension, such suspension will be imposed immediately upon the decision being made, even if it may be before the date or time suspension is requested to commence.
If the Exchange considers that the reasons given in support of a request for suspension do not warrant a suspension -
the Exchange will inform the listed issuer; and
the Exchange may at its discretion, require a listed issuer to announce sufficient information to enable an investor to make an informed decision, as soon as practicable or within a time prescribed by the Exchange, which in any event will not be longer than 1 market day from notification.
The following are illustrations of the application of paragraphs 6.1 and 6.2:
If A Bhd intends to have its securities suspended at 9.00 a.m. on Monday, it should submit its request for suspension by 4.30 p.m. on the previous Friday.
Where the submission is made on Friday and the Exchange decides on Friday to allow the suspension, suspension will be effected immediately on Friday itself (if at that time, the trading session has not yet ended).
However, pursuant to paragraph 4.2(b), the Exchange will not take into account the suspension effected on Friday when computing the period of suspension.
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