During PLC A's Board Meeting held on Monday, 24 August 2009 at 11.00 a.m., the Board resolves, amongst others, the declaration of a dividend. After the meeting ends at 12.45 p.m., PLC A immediately announces the declaration of dividend. Will trading halt be imposed on PLC A's securities?
Pursuant to paragraph 3.1 of Practice Note 20, a trading halt will not be imposed on PLC A's securities as the announcement on the declaration of dividend is made and released during the trading session break from 12.30 p.m. to 1.00 p.m. and investors have the opportunity to digest the information before the commencement of trading at 2.30 p.m. However, where Bursa Securities is of the view that the period is insufficient for purposes of dissemination of a material announcement, Bursa Securities may, at its discretion impose a suspension pursuant to paragraph 3.2 of Practice Note 20.