The process equipment manufacturer said trading of its securities on the main market will be suspended from Oct 13.

Its securities will be delisted on Nov 5 unless an appeal against the rejection of the proposed regularisation plan and delisting is submitted to Bursa Securities by Nov 2.

“In the event the company submits an appeal to Bursa Securities within the appeal timeframe, the delisting of the securities from the official list of Bursa Securities on Nov 5 will be deferred pending the decision on the company’s appeal.

“However, Bursa Securities will proceed to suspend the trading of the company’s securities on Oct 13 even though the decision on the company’s appeal is still pending,” it said in a filing with Bursa Malaysia today.

KNM said that upon the company’s delisting, it will continue to operate but as an unlisted entity.

The company slipped into PN17 status in October 2022 after its auditors raised material uncertainties on its ability to continue as a going concern.

KNM’s regularisation plan announced in August included the proposed disposal of Deutsche KNM GmbH, which owns crown jewel Borsig GmbH, for 270 million euros (RM1.3 billion) to pare debts.

Other measures include consolidating every four shares into one to reduce its share base, restructuring its balance sheet, and reducing its share capital to RM275.97 million to offset accumulated losses.

KNM’s shares ended half-a-sen higher at three sen on Friday, compared to 2.5 sen at Thursday’s close, with 842,400 shares changing hands.