News
- Public Shareholding Spread requirement pursuant to Rule 8.15 of the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") for the MESDAQ Market ("MMLR")
We refer to the announcement made by the Company on 18 April 2008, whereby Bursa Securities had granted the Company an extension of time until 1 July 2008 to comply with the public shareholding spread requirements pursuant to Rule 8.15 (1) of the MMLR.
The Board of Directors of MYEG wishes to announce that based on the Record of Depositors of MYEG as at 23 June 2008, the Company was unable to fully comply with Rule 8.15(1) of the MMLR in relation to the public shareholding spread requirement which states that a listed company should have at least 25% of its issued and paid-up capital in the hands of a minimum of 1,000 public shareholders holding not less than 100 shares each.
The public shareholding spread of the Company as at 23 June 2008 was as follows:
|
Percentage (%) of public shareholdings
|
44.60 |
|
Number of Public Shareholders holding not less than 100 shares
|
284
|
The Company had on 30 June 2008, applied to the Bursa Securities for a further extension of time of 6 months from 2 July 2008 to 1 January 2009 to comply with the level of public shareholding spread.
The Company has and will continuously conduct the following activities in order to create public awareness and to promote the Company amongst the investing community and general public:
1. Cultivating interest in MYEG among the investing community through the following:
a. Press release on new services/new innovation/ major corporate event on as and when basis;
b. Accessibility by members of the press and analysts to members of the Board or senior management, who are in the position to provide guidance and clarification pursuant to the release of information on the said corporate/business developments (set out in paragraph a. above), upon release of announcements or results of general meetings;
c. Holding roadshows and regular briefings with the investing community, particularly analysts, for better research coverage on the group, which will improve profiling and promote investors' interest in investing in its shares. MYEG has appointed Aquilas Advisory (M) Sdn Bhd as the investor relations consultants.
d. Registered as corporate member of the Malaysian Investor Relations Association (MIRA) in order to participate in the IR Incentive Programme (IRIP) launched and administered by the Bursa Securities. The IRIP will be borne by the Capital Market Development Fund.
e. Raise awareness among the investing community with periodical arrangement of company road show/ site-visit by analysts/press/research houses/current and prospective investors/brokerage houses; and
f. Continue to adopt open arms concept to research houses to encourage greater coverage on the Company.
2. Continuous promotion of the Company to employees and business associates through briefing/word of mouth.
3. Strengthening the business performance and development of the group to ensure returns to shareholders commensurate with their investments in MYEG.
4. Declaration of dividends to shareholders
The Board believes in sharing profits with its shareholders through dividend distribution, after taking into consideration the overall performance of the group, its future growth requirements and cash resources. The Board also views this as an effective measure of maintaining investor interest in MYEG's shares.
5. Registered as a corporate member of the CMDF-Bursa Research Scheme (CBRS) offered by Bursa Securities.
6. Corporate Exercise
The Board will study other corporate exercises to improve the liquidity of MYEG's shares and number of public shareholders. This includes consulting with other professional advisers who may have provided solutions to listed companies that had experienced or are experiencing a similar situation as MYEG in respect of complying with the number of public shareholders requirement.
Upon finalization of the proposed corporate exercise(s) by the Board, MYEG shall announce the details of such proposed corporate exercise(s) on Bursa Securities, and seek approval from shareholders, where required.
This announcement is dated 30 June 2008
