Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
| MAGNA PRIMA BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-11012024-00002 |
| Subject | Letter Subject or Reference - UNUSUAL MARKET ACTIVITY |
| Description | MAGNA PRIMA BERHAD - UNUSUAL MARKET ACTIVITY |
| Query Letter Contents | We draw your attention to the sharp rise in price of your Company’s shares recently (“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 :
Yours faithfully, Bursa Malaysia Securities Berhad |
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Reference is made to the letter dated 11 January 2024 from Bursa Malaysia Securities Berhad (“Bursa Securities”) pertaining to the sharp rise in price of the shares of Magna Prima Berhad (“Magna” or “the Company”) recently (“trading activity”).
In accordance with Paragraph 9.11 of the Main Market Listing Requirements (“LR”) of Bursa Securities, the Board of Directors of Magna (“the Board”), after having made due inquiries with all the Directors, major shareholders and such other relevant persons, wishes to inform that to the best of their knowledge, the following:
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;
The Company and its subsidiaries have been continuously on the lookout for opportunities to strengthen its financial position.
The Group is presently in the final stage of negotiations for the monetisation of one of its landbank.
The Group will make the necessary announcements in compliance with the Main Market LR upon any execution of the agreement in relation thereto.
2. Whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity and in this respect, you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities LR;
The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activity.
3. Whether you are aware of any other possible explanation to account for the trading activity; and
The Board is not aware of any other possible explanation to account for the trading activity.
4. Whether you are in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa securities LR on immediate disclosure obligations.
The Company and the Board are in compliance with the LR of Bursa Securities, in particular Paragraph 9.03 of the LR of Bursa Securities on the immediate disclosure obligations.
This announcement is dated 12 January 2024.
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Announcement Info
| Company Name | MAGNA PRIMA BERHAD |
| Stock Name | MAGNA |
| Date Announced | 12 Jan 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12012024-00020 |