Reference is made by Bursa Malaysia Securities Berhad on 22 October 2021, wherein a directive was issued to Serba Dinamik (SERBADK) to announce the findings from the Factual Findings Update dated 30 September 2021 (“FFU”) (“Bursa’s Directive”).
Arising from SERBADK’s failure to comply with Bursa’s Directive, Bursa Securities had on 27 October 2021 suspended the trading of SERBADK’s securities.
Subsequently, Bursa Securities had also sought to enforce Bursa’s Directive via legal action commenced pursuant to Section 360 of the Capital Markets & Services Act 2007 where the High Court had on 7 February 2022 granted an order to compel SERBADK to, among others, comply with Bursa’s Directive (“Order”).
SERBADK’s efforts to stay the Order pending its appeal had been dismissed by the High Court and the Court of Appeal on 14 February 2022 and 11 April 2022 respectively.
Bursa Securities wishes to draw investors’ attention to SERBADK’s announcement dated 21 April 2022, entitled “Court Order Dated 7 February 2022” (“Announcement”) where SERBADK had announced, among others, the findings from the FFU in accordance with the Order. This is in compliance with Bursa’s Directive.
Therefore, Bursa Securities will be uplifting the suspension of trading of SERBADK’s securities on 9 May 2022 at 9.00 am. Please refer to Listing Circular dated 29 April 2022 for further details.
CLARIFICATION ON SERBADK’S ANNOUNCEMENT
