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Statement re Intention to Cancel Listing

Fri, 6th Oct 2017 17:30


RNS Number : 8849S
Inch Kenneth Kajang Rubber
06 October 2017

Inch Kenneth Kajang Rubber Public Limited Company

(UK Registration No. SC007574/ Malaysian Company No: 990261-M)

(Incorporated in Scotland under the Companies (Consolidation) Act, 1908 and

registered in Malaysia as a foreign company under the Companies Ordinances, 1940 to 1946)


Intended Cancellation of Ordinary Shares from Listing on the Official List and of Admission to Trading on the London Stock Exchange

Inch Kenneth Kajang Rubber Public Limited Company (the "Company" or "IKKR") hereby announces that the Company has resolved, at a meeting of its Board of Directors held on 6 October 2017, to request the cancellation of the standard listing of IKKR ordinary shares of 0.10 per share (ISIN: GB0004601091) ("Shares") on the Official List of the UK Listing Authority ("UKLA") and the cancellation of the admission to trading of the Shares on the Main Market of the London Stock Exchange ("LSE") (together, the "Delisting"). The details are as follows:

Reasons for Delisting

The Company has decided to apply for voluntary Delisting of its Shares from the LSE in order to streamline administrative procedures and to reduce management costs from listing on multiple stock exchanges. As the volume of trading in the Shares on the LSE is low and the Shares will continue to be traded on Bursa Malaysia, the Company believes the impact on its shareholders from Delisting from the LSE will be minimal.

Effect of the Delisting

Shareholders will no longer be able to buy and sell Shares on the Main Market of the LSE following the Delisting.

Following the Delisting, the Company will no longer be required to comply with the continuing obligations set out in the UK Listing Rules, the UK Disclosure Guidance and Transparency Rules or the EU Market Abuse Regulation. In addition, the Company will no longer be subject to the provisions of the UK Disclosure Guidance and Transparency Rules relating to the disclosure of changes in significant shareholdings in the Company.

The Company will maintain its listing on Bursa Malaysia and Singapore Stock Exchange Securities Trading Limited ("SGX-ST"), and as such, continue to be subject to the rules and regulations of the Bursa Malaysia Securities Berhad ("BMSB") and SGX-ST, and all other laws, rules and regulations applicable to a company with shares listed on Bursa Malaysia and SGX-ST. In addition, the Company will continue to be subject to the UK Companies Act 2006 and all other United Kingdom laws and regulations to the extent applicable to a public company incorporated in Scotland with shares listed on Bursa Malaysia and SGX-ST.

Following the Delisting, the Company will remain a public limited company incorporated in Scotland but its securities will not be admitted to trading on a regulated market in the United Kingdom. The Company will continue to prepare its consolidated United Kingdom statutory accounts under International Financial Reporting Standards and in accordance with the applicable requirements of the UK Companies Act 2006.

Expected Delisting Schedule

In accordance with Financial Conduct Authority Listing Rule 5.2.8, the Company is required to give at least 20 business days' notice of the intended Delisting. An application has been made today to the UKLA for the Shares to be removed from the Official List, and to the LSE for the Shares to be removed from trading on the Main Market.The Company's proposed date of Delisting is 6 November 2017. It is expected that trading on the Main Market in the Shares will cease at the close of business on 3 November 2017 with the Delisting becoming effective from 8.00 a.m. (London time) on 6 November 2017.

The Company will maintain its listings on Bursa Malaysia and SGX-ST.

Queries in regards to the transfer of the Shares to Bursa Malaysia may be directed to:

FA Securities Sdn Bhd

A-10-1 and A-10-17,
Level 10, Menara UOA Bangsar,
No 5 Jalan Bangsar Utama 1,

Bangsar,
59000 Kuala Lumpur.

Tel: +603 2288 1676
Fax: +603 2282 2571
Email:
info@fasec.com.my

Website : www.fasec.com.my


This information is provided by RNS
The company news service from the London Stock Exchange
END
STREALEKESEXFEF





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