Bursa warns Maxwell, Multi Sports on share-trade suspension
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Bursa warns Maxwell, Multi Sports on share-trade suspension
Bursa warns Maxwell, Multi Sports on share-trade suspension
By Chong Jin Hun / theedgemarkets.com | May 3, 2016 : 10:39 AM MYTKUALA LUMPUR (May 3): Bursa Malaysia said it would suspend Maxwell International Holdings Bhd and Multi Sports Holdings Ltd's share trades if both companies failed to submit their latest annual reports by the regulator's deadline.
Maxwell manufactures sports shoes while Multi Sports produces sports-shoe soles.
Bursa said today in separate statements on its website that if Maxwell and Multi Sports were unable to submit their annual reports for financial year ended December 31, 2015 by this Monday (May 9), both companies' share trades would be suspended the following day (May 10) until further notice.
Bursa said "if a listed issuer fails to issue the outstanding financial statements within 6 months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take; de-listing procedures shall be commenced against such listed issuer."
At about 10am today, Maxwell shares were traded unchanged at 3.5 sen for a market value of RM13.96 million.
Multi Sports shares fell 0.5 sen or 13% to 3.5 sen for a market capitalisation of RM21.24 million.
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