Resignation and termination of a Sponsor
4.11
X is the Sponsor who makes an application for listing on behalf of A Bhd. A Bhd is listed on the ACE Market on 1 September 2009. Based on Rule 3.21 of the ACE LR, A Bhd must secure and maintain the services of a Sponsor for at least 3 full financial years after its admission to the Official List, and extended to at least 1 full financial year after the applicant has generated operating revenue. A Bhd financial period ends on 31 December 2010.
(g)
In a case where A Bhd applies for and obtains an exemption from Bursa Securities from continued compliance with the remaining sponsorship period pursuant to Rule 3.21(2A), must A Bhd still state in the Public Documents that its admission was sponsored by X after the date the exemption was obtained?
No, A Bhd would not be required to state that its admission was sponsored by X in the Public Documents issued after the effective date of the exemption.