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The Board of Directors of BHS Industries Berhad (“the Company”) wishes to announce that as at 31 December 2008, the Company has yet to comply with the public shareholding spread requirement under Paragraph 8.15 (1) of the Listing Requirements of Bursa Malaysia Securities Berhad (“LR”) of at least 25% of the Company's total listed shares are in the hands of a minimum of 1,000 public shareholders holding not less than 100 shares each ("Required Public Shareholding Spread").
As at 31 December 2008, the Company had 40.62% of the Company's total shares in the hands of only 899 public shareholders holding not less than 100 shares each.
The Company has taken and will continue to pursue the following steps to rectify the public shareholding spread to comply with the Required Public Shareholding Spread :-
1. Encourage all employees not already holding shares in the Company to start holding at least 100 shares in the Company. This enables employees to feel that they are participating in the success of the Company in which they are shareholders; and
2. Raise the profile of the Company by engaging with analysts of research houses to inform them of the plan of the Company and also to update them at intervals to ensure that reports on BHS are communicated to the investor community.
The Company has applied to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time until 31 July 2009, to meet with the Required Public Shareholding Spread. The application is currently under the consideration of Bursa Securities and an announcement will be made on the outcome of the application upon receipt of the reply from Bursa Securities.
This announcement is dated 13 January 2009. |
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