LYC Healthcare appeal puts Bursa delisting on hold
Trading in the company's securities remains scheduled for suspension from Oct 27, with its appeal awaiting Bursa Malaysia's decision.
LYC Healthcare Bhd has filed an appeal against delisting proceedings, delaying its planned Oct 29 removal from Bursa Malaysia's ACE Market while the exchange considers the case.
The healthcare services provider told the exchange it lodged the appeal on Oct 20, before the Oct 26 deadline. It said the timely submission meant its securities would remain on the official list pending a decision on the appeal.
The move comes after the end of LYC Healthcare's advisory relationship with UOB Kay Hian (M) Sdn Bhd. That left the company without a sponsor for the regularisation plan it proposed under Guidance Note 3.
A trading suspension for the company's securities is scheduled to begin on Oct 27. The company said the deferral applies to its removal from the exchange's official list.
