Letter Subject or Reference – UNUSUAL MARKET ACTIVITY
|Type||Reply to Query|
|Reply to Bursa Malaysia’s Query Letter – Reference ID||IQL-19082020-00003|
|Subject||Letter Subject or Reference – UNUSUAL MARKET ACTIVITY|
INDUSTRONICS BERHAD ("INDUSTRONICS" OR "THE COMPANY") - UNUSUAL MARKET ACTIVITY
|Query Letter Contents||We draw your attention to the sharp rise in price and volume of your Company’s shares today(“trading activity”).
In light of the above and in order for investors to be able to make informed investment decisions, you are requested to respond, after making due enquiry with your directors, major shareholders and such other relevant persons, to the following queries immediately for public release in accordance with paragraph 9.11 of Listing Requirements :
1. Whether there is any corporate development relating to your 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, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions
Please note that the contents of the announcement must be endorsed by the Board of Directors of the Company and the announcement must reach Bursa Securities immediately via Bursa LINK.
Bursa Malaysia Securities Berhad
We refer to the letter from Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 19 August 2020 under the reference no. IQL-19082020-00003 on the unusual market activity on the trading of the Company’s shares.
In accordance with the Corporate Disclosure Policy on Response to Unusual Market Activity pursuant to Paragraph 9.11 of the Main Market Listing Requirements (“Main Market LR”), on behalf of the Board of Directors of Industronics (“Board”) after making inquiry from all the Board members and the substantial shareholders, the Board wishes to advise that, with regards to the matters raised in the Bursa Securities’ letter:-
1. There is no corporate development relating to the Group’s business and affairs that have not been previously announced that may account for the trading activity, including those in the stage of negotiation/discussion.
2. There is no rumour or report concerning the business and affairs of the Group that may account for the trading activity;
3. The Company is not aware of any other possible explanation to account for the trading activity; and
4. The Company is in compliance with the Main Market LR in particular Paragraph 9.03 of the Main Market LR on immediate disclosure obligations.
This announcement is dated 21 August 2020.
|Company Name||INDUSTRONICS BERHAD|
|Date Announced||21 Aug 2020|
|Category||General Announcement for PLC|