Tuesday 19 Mar 2024
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KUALA LUMPUR (Sept 22): MCE Holdings Bhd said today a director and major shareholder of the car alarm system manufacturer has been approached by certain interested parties who had expressed interest in acquiring MCE shares.

In a reply today to Bursa Malaysia's unusual market activity (UMA) query yesterday on the recent sharp rise in price and volume of MCE shares, the company said the proposed MCE share acquisition discussion is still at a very preliminary stage and no agreement or conclusions have been made, reached or firmed up.

"The director and major shareholder will make the necessary disclosure and an announcement (will be) made to Bursa in the event any agreement is concluded from the approach and discussion," said MCE, which also manufactures car central-locking and power-window regulators.

At Bursa's 12.30pm break today, MCE's share price settled one sen or 0.83% higher at RM1.22, valuing the group at RM59.59 million. The stock saw 1.85 million shares traded.

On Sept 14, 2020, MCE closed at 72 sen with 189,500 shares transacted.

Edited ByChong Jin Hun
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