Ge-Shen has replied to the UMA query issued by Bursa Securities after the share price of the company surged yesterday by more than 20% from mid-day.
In a reply the company said it was unware of any reason for the spike and not aware of any corporate development relating to its business and affairs nor been previously announced that may account for the trading activity including those in the stage of negotiation/discussion.
The board also said it is aware of any rumour or report concerning the business and affairs of the that may account for the trading activity. Ge-Shen said it is not aware of any other possible explanation to account for the trading activity.
The share price has retreated somewhat to 3.80 as of noon today.
