D&O GREEN TECHNOLOGIES BERHAD
Extension of time to comply with the Public Shareholding Spread Requirement pursuant to Paragraph 8.02(1) of the Listing Requirement of Bursa Malaysia Securities Berhad
Further to our announcement on 30 August 2010, D & O Green Technologies Berhad ("D&O" or the "Company") wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Malaysia") has on 6 October 2010 granted an extension of time of 6 months until 28 February 2011 for the Company to comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirement.
As at 14 September 2010, the public shareholding spread of the Company is 24.29%. This percentage represents a shortfall of 0.71% from the minimum percentage of 25% of the total issued and paid up share capital of the Company. As such, the Company does not comply with Paragraph 8.02(1) of the Listing Requirement of Bursa Malaysia for main market whereby at least 25% of its total issued shares are required to be in the hand of public shareholders.
The Company is still in the process of formulating and finalising a formal rectification plan to increase the public spread of the Company to comply with Paragraph 8.02(1) of the Listing Requirement, which may include discussion with directors and/or substantial shareholders to sell down their shareholding, placements and/or offers for sale.
This announcement dated 7 October 2010.
Announcement Details :
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