Serba, Bursa and EY in constant touch to resolve suspension ‘impasse’

SERBA Dinamik Holdings Bhd has reassured all its stakeholders that the company is communicating closely with Bursa Malaysia Securities Bhd, Ernst & Young Consulting Sdn Bhd (EY) and other relevant authorities to resolve the issue pertaining to its indefinite trading suspension of its shares/warrants.

In a letter to stakeholders, the global integrated oil & gas (O&G) service provider shared its concern, assuring that the company’s board – together with key senior management – are doing their utmost best in all their ongoing engagements.

In fact, today marked one week since Serba Dinamik was indefinitely suspended by Bursa Malaysia Securities (since Oct 22) due to failure to provide status update of its special independent review (SIR).

Serba Dinamik has argued that although EY (its special independent reviewer) had staged a PowerPoint presentation on Oct 21 to three of its independent non-executive directors (INEDs), the so-called preliminary finding was inconclusive with EY not reaching any definite conclusion on the status of its review.

“We guarantee our commitment to provide impeccable service as we always have and will continue to do our best in fulfilling all our contracts, agreements and/or arrangements as agreed respectively,” read the letter issued by the company’s corporate communications department.

“Serba Dinamik and its subsidiaries would like to extend our gratitude for your patience and diligence in this matter. The board will make a further announcement on progress updates and related matters accordingly.”

For any queries, stakeholders can get in touch with the company via e-mail at [email protected] or +603-5516 6100.

“Rest assured, Serba Dinamik prioritises the well-being of its shareholders, clients and partners and are looking to put the arduous matters to bed,” added the company.

Serba Dinamik was last transacted at 35 sen at the close of last Friday’s (Oct 22) mid-day trading prior to the trading suspension of its shares/warrants, hence giving the company a market capitalisation of RM1.31 bil. – Oct 28, 2021

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