PLabs wishes to inform that Alliance IB has been acting as the Sponsor of PLabs since the Company was admitted to the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 26 July 2011 (“Sponsor”). Alliance IB’s role as the Sponsor of PLabs for the current term is due to expire on 31 December 2013.
The Board of Directors of PLabs had, on 5 August 2013, been informed by Alliance IB that Alliance IB is no longer eligible to act as a sponsor under the ACE Market Listing Requirements. The Company had also been informed by Alliance IB that Bursa Securities had, on 30 August 2013, approved Alliance IB’s application to continue to act as a Sponsor for PLabs up to 31 October 2013.
Pursuant to the above, the Board of Directors of PLabs wishes to announce that Alliance IB and the Company have mutually agreed to discontinue Alliance IB’s role as the Sponsor of PLabs with effect from 1 November 2013.
The Board of Directors of PLabs also wishes to announce that RHB Investment has been appointed as the new Sponsor of the Company with effect from 1 November 2013 to 31 December 2014.
This announcement is dated 21 October 2013.