General Announcement for PLC

15/09/2020

Letter Subject or Reference - UNUSUAL MARKET ACTIVITY

PARLO BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-15092020-00002
Subject Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Description 
Unusual Market Activity
Query Letter Contents

We draw your attention to the sharp rise in price and 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

 
We refer to Bursa Malaysia Securities Berhad's letter dated 15 September 2020 in relation to the unusual market activity (“UMA”) of the Company’s shares.

Pursuant to Rule 9.11 of the ACE Market Listing Requirements (“LR”) of Bursa Malaysia Securities Berhad, after having made due enquiries with its directors, major shareholders and such other relevant persons (if any), the Company wishes to inform that save for the recent disposal on 2 September 2020, 3 September 2020, 4 September 2020, 7 September 2020 and 10 September 2020 of 107,514,000 ordinary shares of PARLO by Thirty Keystone Sdn Bhd, a substantial shareholder of the company, representing 29.54% of the issued share capital of PARLO;

1) There is no corporate development relating to the 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. The Company is continuously in discussions with various parties to explore potential business development which may enhance the Group’s earnings amidst the challenging Covid 19 pandemic. However, such discussions are only at the preliminary stages and nothing has been confirmed. Definitive agreements will be tabled to the Board of Directors for deliberation and approval. If found material necessary announcements will be made to Bursa Malaysia Securities Berhad and shareholders' approval will be sought in accordance with the LR of Bursa Malaysia Securities Berhad if required;

2) The Board of Directors are not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activity;

3) The Board of Directors are not aware of any other possible explanation to account for the trading activity; and

4) The Company is in compliance with the Bursa Securities Listing Requirements, and will make the necessary announcement to Bursa Securities of any material information in compliance with Rule 9.03 of the Bursa Securities Listing Requirements.

This announcement is dated 15 September 2020.

 


Announcement Info

Company Name PARLO BERHAD
Stock Name PARLO
Date Announced 15 Sep 2020
Category General Announcement for PLC
Reference Number GA1-15092020-00058


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