Bertam Alliance shares plunge 30.95% after entering PN17 status
05 Apr 2018 / 12:04 H.
PETALING JAYA: Bertam Alliance Bhd, which entered into Practice Note 17 (PN17) yesterday, saw its share price plunge 30.95% this morning.
At 11.32am, its share price fell 30.95% or 13 sen to 29 sen with 337,900 shares traded.
The company was categorised as a PN17 company after Bursa Securities rejected its waiver application.
It triggered Paragraph 2.1(c) of PN17 as a winding-up order had been made against its wholly owned subsidiary Bertam Development Sdn Bhd, which accounts for at least 50% of its total assets on a consolidated basis.