Letter Subject Or Reference - Unusual Market Activity

Back Jan 31, 2023
Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-31012023-00001
Subject Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Description CYPARK RESOURCES BERHAD ("CRB" or "the Company") - UNUSUAL MARKET ACTIVITY
Query Letter Contents

We draw your attention to the sharp rise in price and trading volume 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 :

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
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;      
3. Whether you are aware of any other possible explanation to account for the trading activity; and       
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.


Please note that the contents of the announcement must be endorsed by the Board of Directors of the Company and the announcement must reach Bursa Securities immediately via Bursa LINK.

 

Yours faithfully,

Bursa Malaysia Securities Berhad

 

Reference is made to the query received from Bursa Malaysia Securities Berhad (“Bursa Securities”) on 31 January 2023 pertaining to the unusual market activity (“UMA”) of CRB on the recent sharp rise in price of the Company’s shares. The Board of Directors of CRB (“Board”) wishes to confirm that, to the best of our knowledge and after making due enquiry with all the Company’s directors, major shareholder as well as such other relevant persons: ​

 

  1. The Board is not aware of any corporate developments relating to the Group’s business and affairs that has not been previously announced, including any proposals in the stage of negotiation/discussion, that may account for the trading activity.

  2. The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the unusual market activity.

  3. The Board is not aware of any possible explanation to account for the trading activity, other than the recent completion of the Company's private placement exercise and emergence of a new substantial shareholder, Jakel Capital Sdn. Bhd., which may have increased the confidence among the investors.

  4. The Company is in compliance with the Main Market Listing Requirements ("MMLR") of Bursa Securities, in particular Paragraph 9.03 of the MMLR on immediate disclosure obligations.

 

This announcement is dated 31 January 2023.

Announcement Info

Company Name CYPARK RESOURCES BERHAD
Stock Name CYPARK
Date Announced 31 Jan 2023
Category General Announcement for PLC
Reference Number GA1-31012023-00032