LYC Healthcare appeals against delisting
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.
KUALA LUMPUR: LYC Healthcare Bhd has appealed against the initiation of delisting proceedings, halting its planned removal from Bursa Malaysia while awaiting a decision from the exchange. In a filing to the bourse, the healthcare services provider stated it lodged the appeal on October 20, before the October 26 deadline. This appeal emerged following the termination of its advisory relationship with UOB Kay Hian (M) Sdn Bhd, leaving LYC Healthcare without a sponsor for its planned Guidance Note 3 regularisation.
Scheduled for delisting from the ACE Market on October 29, the company's securities were set to be suspended from trading on October 27. LYC Healthcare assured that the delisting would be postponed pending Bursa Malaysia's decision on the appeal. The company emphasized that submitting the appeal within the stipulated timeframe (by October 26) would defer the removal of its securities from the official Bursa Malaysia list on October 29, pending the exchange's assessment of their appeal.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
