Bursa Malaysia Securities Berhad has issued an UMA query on the sharp rise in the price and volume of TANCO shares recently.
The Exchange has advised, investors to take note of the company’s reply to the above UMA query which it will post on its website once Tanco replies.
The contents of the UMA query are as follows:-
Bursa said it draws to the attention of the sharp rise in price and volume of the company’s shares recently (“trading activity”). And in order for investors to be able to make informed investment decisions, Bursa requests to respond, after making a due enquiry with the directors, major shareholders and such other relevant persons, to the following queries immediately for public release in accordance with Paragraph 9.11 of the Main Market Listing Requirements (“LR”):
1. Whether there is any corporate development relating to the Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion. If yes, to provide the details including the status of the corporate development to enable investors to make informed investment decisions;
2. Whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity?
3. Whether Tanco is aware of any other possible explanation to account for the trading activity; and
4. Whether it is in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.
Bursa added that all information provided must be endorsed by the Board of Directors of the Company and the announcement must reach Bursa Securities immediately.
