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Reference is made to your letter dated 15 March 2000 ref. No. KLSE/FRS/UMA.00/173 on the sharp increase in price in UH Dove Holdings Berhad’s ("UH Dove") shares today.
The Board of Directors of UH Dove wishes to advise the Exchange of the following:
As announced on 25 February 2000 on the status of default payment of its bank borrowings of the subsidiaries of UH Dove, the Company is still continuing its negotiations with the bankers to resolve the default payment and the Corporate Debt Restructuring Committee has been informed of the UH Dove Group’s restructuring proposal to the bankers and the same is being worked out.
Other than the abovementioned:-
1. That there is no material development in UH Dove and the Group’s business and affairs not previously disclosed;
2. That to the knowledge of UH Dove, there is no impending change in the major shareholders;
3. That to the knowledge of UH Dove, there is no other reason to account for the unusual market transaction.
The Board also wishes to declare that none of the situations or events listed in your aforesaid letter contributed to the unusual market activities in UH Dove’s shares. UH Dove is also not aware of any rumour or report (whether true or false) which contains information which has or likely to have an effect on the trading of UH Dove’s securities.
Please be assured that should there be a need for announcements in the near future, it would be made promptly.
