The Board of Directors' of LYC hereby announces that the Company may be unable to release to Bursa Malaysia Securities Berhad ("Bursa Securities") and shareholders its Annual Report that includes the annual audited financial statements together with the auditors' and directors' reports in respect of the financial year ended 31 March 2026 by 31 July 2026 which is a period not exceeding four (4) months from the close of the financial year ended 31 March 2026 as required under Rule 9.23(1) of the ACE Market Listings Requirements ("AMLR") of Bursa Securities.
Pursuant to Rule 9.28(3) of the AMLR of Bursa Securities, if LYC fails to issue the Annual Report 2026, together with its Financial Statements within 5 market days, i.e. 7 August 2026 (the last day of this 5 market day period is referred to as "Suspension Deadline"), in addition to any enforcement action that the Bursa Securities may take, the Bursa Securities shall suspend trading in the securities of the Company.
The suspension shall take effect on the next market day after the Suspension Deadline (i.e. 10 August 2026) and will be uplifted on the market day following the issuance of the Annual Report 2026, together with its Financial Statements unless otherwise determined by the Bursa Securities.
Pursuant to Rule 9.28(6) of the AMLR, if the Company fails to announce/issue the outstanding Annual Report 2026 within six (6) months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall commence de-listing procedures against the Company.
The reasons that the Company may be unable to issue the Annual Report 2026 by 31 July 2026 are as follows:-
1. The Company had on 6 March 2026 appointed Messrs SBY Partners PLT as the new External Auditors in place of Messrs Crowe Malaysia PLT who resigned on 26 February 2026 due to a disagreement on the audit fee;
2. The Management of the Company require additional time to work together with the new External Auditors, Messrs SBY Partners PLT to finalise the audit expeditiously; and
3. Notwithstanding the above, the Company expects to issue and submit its Annual Report 2026, together with its Financial Statements on or before 7 August 2026.
This announcement is dated 28 July 2026.