We refer to the Company’s announcement dated 24 July 2020 in relation to the Company’s application for an extension of time for the submission of a regularisation plan (“Announcement”).                             

Further to the Announcement, on behalf of the Board of Directors of Comcorp, Public Investment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, vide its letter dated 17 August 2020, decided to grant the Company an extension of time of three (3) months up to 24 October 2020 to submit a regularisation plan to the regulatory authorities (“Extension of Time”).

The Extension of Time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of Comcorp and to de-list the Company in the event:

(i)        the Company fails to submit a regularisation plan to the regulatory authorities on or before 24 October 2020;

(ii)       the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii)      the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of Comcorp on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.

This announcement is dated 18 August 2020.