Written by Joseph Chin
Monday, 28 September 2009 11:41
KUALA LUMPUR: Bursa Malaysia Securities Berhad has issued an unusual market activity (UMA) query on the trading of the shares of Tracoma Bhd and LFE Corp Bhd.
The regulator had on Sept 28 queried both companies over the sharp increase in price in the companies' shares recently.
It directed both companies to provide with an announcement for public release after making due enquiry with their directors and major shareholders seeking the cause of the unusual market activity in the companies' shares.
Both companies were also required to publicly confirm whether there was any corporate development relating to their business and affairs that had not been previously announced that may account for the unusual market activity including those in the stage of negotiation / discussion.
Bursa Securities also asked both companies whether there was any rumour or report concerning the business and affairs of the group that may account for the unusual market activity.