KUALA LUMPUR: LYC Healthcare Bhd has appealed against the commencement of delisting proceedings, putting its scheduled removal from Bursa Malaysia on hold pending the exchange's decision.
In a bourse filing today, the healthcare services provider said it submitted the appeal on Oct 20, ahead of the Oct 26 deadline.
The appeal follows the termination of its advisory relationship with UOB Kay Hian (M) Sdn Bhd, leaving the company without a sponsor for its proposed Guidance Note 3 regularisation plan.
LYC Healthcare is scheduled to be delisted from the ACE Market on Oct 29, while trading in its securities is due to be suspended from Oct 27.
The company said the delisting would be deferred pending Bursa Malaysia's decision on the appeal.
"Given that the appeal was submitted within the appeal timeframe (on or before Oct 26), the removal of the securities of the companyfrom the official list of Bursa Malaysia on Oct 29 shall be deferred pending the decision by Bursa Malaysia on the appeal," it said.
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