Trading in G Neptune to be suspended tomorrow

PETALING JAYA:G Neptune Bhd (GNB) will be suspended from trading tomorrow, after it failed to issue its 2017 Annual Report and financial statements within the stipulated time frame due to an ongoing audit process.
"Further to the company's announcement on Oct 31, 2017, the board of directors of GNB wishes to inform that the company is not able to issue its annual report 2017 together with the audited financial statements for the financial period ended June 30, 2017 by Nov 7, 2017 as the audit process of the aforesaid financial statements is still on-going," its board of directors said in a Bursa Malaysia filing.
According to Bursa Malaysia's listing requirements, should a company fail to issue its annual report within the relevant timeframe, which in the case of GNB is November 7---the company will be suspended on the next market day following the expiry of the deadline.
This will be in addition to any enforcement actions that may be taken by Bursa Securities.
Suspension will be uplifted on the market day following the issuance of the annual report.
The board of GNB said it will endeavour to ensure the financial statements are finalized to enable the AGM to be convened by December 2017.
GNB's shares fell 12.5% to close at 3.5sen with some 4.04 million shares traded.