Focus Point Group Bhd, Malaysia’s largest chain of professional eyecare centres, has secured a new date from the regulators to proceed with its tentative listing on the ACE Market of Bursa Malaysia – Aug 23.
The company said it had given its cooperation to the regulators to address the allegations made against the company two weeks ago that affected its earlier listing plan.
“Adequate disclosures have been put forward to clarify matters, as well as to ensure the regulators and investors are fully informed of Focus Point’s position,” it said in a statement yesterday.
“The company regrets the delay in its listing date and wishes to extend an exit option to investors who have subscribed for its shares.”
The company said that any investors who, for any reason, wish to exercise the exit option will have to submit their exit form to Malaysian Issuing House Sdn Bhd on Aug 16 by 12 noon.
Focus Point plans to expand to up to 200 outlets by 2011, including an additional 22 own outlets and 34 franchised outlets.
In a separate statement to Bursa yesterday, Focus Point said it had ceased the prescription and dispensing of contact lenses from outlets that did not have either an optometrist or an optician qualified to prescribe or dispense contact lenses.
As at Dec 31, 2009, 38 of the group’s 64 eyecare centres were found to have been dispensing contact lenses over the counter without an optometrist or an optician qualified to prescribe or dispense them.
It said the promoters of Focus Point had undertaken to fully indemnify Focus Point and any of its officers against any charge, fine or penalty imposed against them for prescribing or dispensing contact lenses at Focus Point outlets without an optometrist or qualified optician present prior to July 27.
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