Further to our announcement on 29 November 2007, Knusford Berhad (KB or the Company) wishes to inform that based on the Record of Depositors as at 31 December 2007, the Company still does not comply with paragraph 8.15(1) of the Listing Requirements which states that a listed issuer should have at least 25% of its issued and paid-up capital in the hands of a minimum 1,000 public shareholders holding not less than 100 shares each. KB has until 15 May 2008 to comply with the said requirement.
The level of public shareholding spread of KB as at 31 December 2007 is as follow:
i. % of Public shareholdings : 39.45%
ii. Number of Public shareholders holding not less than 100 shares : 680
Steps taken or proposed to be taken by the Company to comply with paragraph 8.15(1) of the Listing Requirements (“Rectification Plan”) and the status of implementation includes the followings:
1. the Company has and will continue to advise the directors, substantial shareholders and/or person connected to refrain from increasing their shareholdings until the public shareholding spread requirement is complied with;
2. the Company has and will continue to advise the Directors, substantial shareholders and/or person connected to them to sell down some of their shares in the Company; and
3. the Company is seeking professional assistance to generate public awareness and interest and if necessary to place out some of the directors, substantial shareholders and/or person connected to them.