UNUSUAL MARKET ACTIVITY
| PWE INDUSTRIES BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | MA-030715-39423 |
| Subject | UNUSUAL MARKET ACTIVITY |
Contents :
We refer to the Exchange's letter (Ref. No.MA-030715-39423) dated 15 July 2003 on unusual market activity and pursuant to paragraph 9.11 of the Listing Requirements of the Exchange pertaining to response to unusual market activity under the Corporate Disclosure Policy, the Board wishes to advise that:
1. The Board is not aware of any rumour or report (whether true or false) which contains information which has or is likely to have an effect in the trading of the Company's shares.
2. Save as disclosed below, there is no material development in the Company's business and affairs not previously disclosed:-
- · The announcement dated 3 June 2003 regarding the memorandum of understanding entered into by the Company on 2 June 2003 with the vendors of Bintang Bulk Movers Sdn Bhd and Agenda Wira Sdn Bhd (collectively referred to as the “Acquiree Companies”) to confirm the general understanding of the parties concerned on the corporate proposals stated therein (“the Proposals”); and
· The announcement dated 18 June 2003 regarding the preliminary due diligence exercise being conducted on the Acquiree Companies with a view of entering into a conditional sale and purchase agreements with the vendors of the aforesaid companies.
The Company and the abovementioned vendors further agreed that the relevant conditional sale and purchase agreements shall be entered into in due course to implement the Proposals; and
This announcement is dated 15 July 2003.
Query Letter Contents :
We draw your attention to the sharp increase in price and high volume in your
Company’s shares today.
In accordance with paragraph 9.11 of the Exchange’s Corporate Disclosure Policy
on Response To Unusual Market Activity, you are requested to furnish the
Exchange with an announcement for public release after a due enquiry seeking
the cause of the unusual market activity in the Company’s securities. When
considering your response and when making the required announcement, your
attention is particularly drawn to the continuing disclosure requirements set
out in Chapter 9 of the KLSE’s Listing Requirements.
The announcement is to reach the Exchange immediately today via KLSE Listing
Information Network (“KLSE Link”).
Yours faithfully
TAN CHUN WENG
Senior Vice President,
Financial Review & Surveillance
Listing Group
JE/al
Announcement Info
| Company Name | PWE INDUSTRIES BERHAD |
| Stock Name | PWE |
| Date Announced | 15 Jul 2003 |
| Category | General Announcement |
| Reference No | EE-030715-90715 |
