Bursa Malaysia Securities Bhd has imposed a fine of RM15,000 on Serba Dinamik Holdings Bhd’s group managing director Datuk Mohd Abdul Karim Abdullah (pictured right). — Bernama pic
KUALA LUMPUR, Sept 29 — Bursa Malaysia Securities Bhd has publicly reprimanded and imposed a fine of RM15,000 on Serba Dinamik Holdings Bhd’s group managing director/chief executive officer Datuk Mohd Abdul Karim Abdullah.
In a statement today, Bursa Malaysia Securities said Mohd Abdul Karim breached paragraph 14.08(d) of the Bursa Malaysia Securities Main Market Listing Requirements (Main LR) for failing to give notice to the company secretary within one full market day after the disposal of his interest in 107.96 million Serba Dinamik shares on May 9, 2022, to enable the firm to immediately announce a notice.
“Bursa Malaysia Securities views the above contravention seriously and reminded Mohd Abdul Karim of his responsibility to maintain appropriate standards of corporate responsibility and accountability to the shareholders and the investing public,” it said, adding that the disposal was only announced on Aug 12, 2022.
Pursuant to paragraph 14.08(d) of the Main LR, a director who wishes to deal in the listed securities of his own listed issuer during a closed period must give notice of the dealing (which includes acquiring or disposing of securities or any interest in securities under paragraph 14.02(b)(i) of the Main LR) in writing to the company secretary within one full market day after the dealing has occurred.
In turn, the affected company must immediately announce such notice to the exchange.
The affected company must also include the date on which the dealing occurred; the consideration for the dealing; and the number of securities involved in the dealing, both in absolute terms and as a percentage of all issued securities of that class in the affected company, the statement noted. — Bernama
