Tanco Holdings Bhd said it is unaware of any undisclosed corporate developments, rumours or other factors that could explain the sharp decline in its share price, following an Unusual Market Activity (UMA) query from Bursa Malaysia Securities Berhad after its share price plummeted close to 30% today.
The property developer said it had conducted due enquiries with its board of directors, major shareholders and other relevant parties after receiving Bursa Malaysia’s query regarding the significant fall in the company’s share price during the trading session.
Tanco said the board was not aware of any new or material corporate developments involving the group that had not already been announced to the market.
However, the company acknowledged that there are ongoing business endeavours currently under discussion or negotiation, adding that any material developments would be disclosed.
In addition, Tanco said it had no other explanation for the sharp movement in its share price and reaffirmed that it remains in compliance with Bursa Malaysia’s Main Market Listing Requirements, particularly with respect to its immediate disclosure obligations.
