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RCE Capital Berhad ("the Company") had on 3 June 2004 made an application to Bursa Malaysia Securities Berhad ("Bursa Securities") for an extension of time of six (6) months to comply with the public shareholding spread requirement pursuant to paragraph 8.15(1) of Bursa Securities Listing Requirements.
Bursa Securities has approved the application and in relation thereto, the Board wishes to announce the following:-
1) The details of the public shareholding spread of the Company as at 14 June 2004 are as follows:-
No. of public shareholders - 906
Shortfall of no. of public shareholders - 94
% of public shareholding spread - 36.38
Shortfall of % of public shareholding spread - N/A
2) Bursa Securities has vide its letter dated 6 July 2004, granted the Company an extension of time for a period of six (6) months expiring on 31 December 2004 for compliance with the public shareholding spread requirement pursuant to paragraph 8.15(1) of Bursa Securities Listing Requirements.
The Company has on 28 May 2004 implemented a subdivision of its shares to improve liquidity of its shares with the aim to increase its number of public shareholders. It is anticipated that the projected positive impact on the Company's number of public shareholders following the subdivision of its shares would be fully realised by 31 December 2004 to regularise the minimum number of public shareholders.