Bursa Malaysia Issues UMA Query To Greentronics Technology

KUALA LUMPUR, Feb 6 (Bernama) -- Bursa Malaysia Securities Bhd has issued an unusual market activity (UMA) query to Greentronics Technology Bhd following the sharp fall in the price of its shares, with increased trading volume today.

In an UMA query, the exchange has asked Greentronics to clarify whether there are any corporate developments relating to the group’s business and affairs including those in the stage of negotiation and discussion stage, that have not been previously announced that may account for the trading activity.

It also asked whether there are any rumours or reports concerning the business and affairs of the group that may account for the trading activity and whether the company is aware of any other possible explanation to account for the trading activity.

Additionally, the exchange asked whether Greentronics is in compliance with the Bursa Securities Listing Requirement (LR) in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.

Meanwhile, in special announcement, Bursa Malaysia said the dynamic price threshold mechanism on Greentronics’s stock has been uplifted for 10 minutes from 10.40 am until 10.50 am after its last done price dropped within 30 per cent or 30 sen up or down from the reference price.

The reference price is 24 sen and the upper and lower limit is 54 sen and RM0.005 respectively. 

At lunch break, Greentronics shares slid 5.5 sen or 22.91 per cent to 18.5 sen with 8.87 million shares traded.

-- BERNAMA