Abdul Karim Abdullah fails to provide notice of the share disposal as required under the Main Market Listing Requirements.
Abdul Karim Abdullah has been penalised for breaching paragraph 14.08 of Bursa Malaysia’s Main Market Listing Requirements.
According to the regulation, a director needs to notify the company secretary within one full-market day in the event of a disposal of the company’s shares. On May 9, 2022, 107.96 million Serba Dinamik shares – representing 2.91% of the company’s equity – held by Karim were disposed of by way of force-selling.The disposal, however, was only announced on Aug 12, 2022.However, Bursa said that this explanation was not acceptable and that he should have been aware of the circumstances as required under the regulations.
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