Thursday 18 Apr 2024
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KUALA LUMPUR (March 14): Pan Malaysia Holdings Bhd (PMH) said it is unaware of the reasons for the recent sharp rise in the price of the company's shares.

In a reply to Bursa Malaysia's unusual market activity (UMA) query earlier, PMH said there are no new corporate developments that the board is aware of.

The company also mentioned that it is not aware of any rumour or report concerning the group's business and affairs that may account for the trading activity.

"The directors and major shareholders of the company are not aware of any other possible explanation to account for the trading activity," it added.

Earlier today, Bursa had slapped PMH with an UMA query after its share price rose as much as 43.3% to hit an intraday high of 21.5 sen.

The regulator drew attention to the sharp rise in PMH's share price, requesting a response on any unannounced corporate developments that may account for the surge in trading activity, "including those in the stage of negotiation or discussion", it said in a filing earlier today.

Shares in PMH closed up 2.5 sen or 16.67% at 17.5 sen today with 47.66 million shares traded for a market capitalisation of RM162.55 million.

 

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