The CCN Holdings share was suspended this morning ahead of next week`s delisting from the JSE.
The company has offered to buy back all its shares at 115c each ahead of its delisting from the JSE.
Although the offer was to close on 9 July, it says the offer will be extended indefinitely in terms of the provisions of the Companies Act.
"An application has been made to the JSE to suspend the company`s listing at the commencement of trade on Monday 5 July 2004 and to terminate CCN`s listing with effect from the commencement of trade on Tuesday 13 July 2004," the company says in a statement released at the weekend.
"Shareholders of CCN who have not accepted the offer by the record date (9 July) will become shareholders in an unlisted company."
CCN has said it is delisting because it does not comply with the spread requirements of a JSE main board listing, which requires there be at least 500 public shareholders and a minimum of 20% of the share capital to be in public hands.
The controlling shareholders - the executive directors and a pool consortium - hold about 87% of the issued shares.
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