General Announcement

11/01/2008

EXCEL FORCE MSC BERHAD (EFMB OR COMPANY) PUBLIC SHAREHOLDING SPREAD PURSUANT TO RULE 8.15(1) OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) FOR THE MESDAQ MARKET (MMLR)

EXCEL FORCE MSC BERHAD

Type

Announcement
SubjectEXCEL FORCE MSC BERHAD (EFMB OR COMPANY)
PUBLIC SHAREHOLDING SPREAD PURSUANT TO RULE 8.15(1) OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES) FOR THE MESDAQ MARKET (MMLR)

Contents :

    (For consistency purposes, the abbreviations used throughout this announcement shall have the same meaning as previously defined in the announcements dated 27 June 2007, 13 July 2007, 27 July 2007, 24 August 2007, 26 November 2007 and 27 November 2007)

    Reference is made to the announcement made on 27 November 2007 in relation to the above mentioned matter. Further thereto, the Board of Directors of EFMB wishes to announce the following:

    (i) The public shareholding spread of the Company according to the Record of Depositors as at 31 December 2007 was 49.56% in the hands of 510 public shareholders holding not less than 100 shares each. The Company had complied with the minimum public spread of 25% but did not meet the minimum of 1,000 public shareholders holding not less than 100 shares each.

    (ii) As part of its efforts to comply with the Required Public Shareholding Spread, the Company had on 2 August 2007 announced to undertake a bonus issue of up to 45,280,000 bonus shares to be credited as fully paid-up on the basis of one (1) bonus share for every two (2) existing shares held. On 16 October 2007, the bonus issue of 40,000,000 new ordinary shares of RM0.10 each in EFMB was listed and quoted on the MESDAQ Market of Bursa Securities. Pursuant thereto, the number of public shareholders holding not less than 100 shares each had increased from 500 (before the completion of the bonus issue) to 510 (after the completion of the bonus issue).
      Currently, the Company has not formulated any concrete rectification plan. However, the Company will continually monitor and endeavor to take the necessary actions to comply with the Required Public Shareholding Spread including contemplating various options to improve its current number of public shareholders. An announcement will be made in due course once a corporate plan is finalised by the Company.

      The Company had also on 4 January 2008 applied to Bursa Securities for an extension of time to comply with the Required Public Shareholding Spread (Application). As at the date of this announcement, the Application is still pending the approval from Bursa Securities.


      This announcement is dated 11 January 2008.

    Announcement Info

    Company NameEXCEL FORCE MSC BERHAD (MESDAQ Market) 
    Stock Name EFORCE
    Date Announced11 Jan 2008  
    CategoryGeneral Announcement
    Reference NoCC-080111-54963



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