The Board of Directors of FSBM hereby announces that Bursa Malaysia Securities Berhad (“Bursa Securities”) has via its letter dated 2 May 2019 informed that:

(i) FSBM has failed to issue the Company’s Annual Report that includes the annual audited financial statements together with the auditors’ and directors’ reports of the Company in respect of the financial year ended 30 June 2018 (“Outstanding Financial Statements/Annual Report 2018”) which was due on 31 October 2018 in accordance with Paragraph 9.23(1) of Bursa Securities Main Market Listing Requirements (“MMLR”).

(ii) Pursuant to Paragraph 9.28(6) of the MMLR, if FSBM fails to issue the Outstanding Financial Statements/Annual Report 2018 within six (6) months from the expiry of the timeframe, i.e., 31 October 2018 as mentioned above, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall commence de-listing procedures against FSBM.

(iii) In light of the above, Bursa Securities has given a notice to FSBM that the Company has been accorded five (5) market days by Bursa Securities to make written representations to Bursa Securities as to why FSBM’s securities should not be removed from the Official List of Bursa Securities.

Further, the Board of Directors hereby announces that the Company will make written representations to Bursa Securities within the five (5) market days as accorded by Bursa Securities.   

In the event Bursa Securities having considered all the relevant facts and circumstances of the case including all representations made by FSBM, makes a determination to proceed with the de-listing, the securities of FSBM shall be removed from the Official List of Bursa Securities upon the expiry of seven (7) market days from the date of notification of the decision to de-list the Company or upon such other date as may be specified by Bursa Securities unless an appeal is made within the prescribed timeframe.

This announcement is dated 3 May 2019.