General Announcement for PLC

20/11/2020

Letter Subject or Reference - UNUSUAL MARKET ACTIVITY

SAMAIDEN GROUP BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-20112020-00001
Subject Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Description 
SAMAIDEN GROUP BERHAD ("THE COMPANY") 
- 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

The Board of Directors of the Company would like to respond to query raised by Bursa Malaysia Securities Berhad (“Bursa Securities”) in relation to the Unusual Market Activity after making due enquiry with the directors and major shareholders of the Company.

 

Bursa Securities had requested the Company to respond to the following queries in accordance with Rule 9.11 of the ACE Market Listing Requirements of Bursa Securities (“ACE Market  LR”):-

 

 

1.The Group has been continuously on the lookout for opportunities to expand its core business to enhance the Group’s earnings and improve its financial performance.

 

The Group is currently in the final stage of negotiation for an award of EPCC works for 10MW Biomass project. On top of that, on 12 November 2020, SEDA Malaysia has announced in its website a list of successful bidders for a Biogas Project. The Group is one of the successful bidders but currently we are waiting for the official Feed In Tariff Approval (FIAH) certificate from SEDA Malaysia. The Group will make the relevant announcements in accordance with the ACE Market LR in the event of any material development pertaining to the above.

 

Other than that, there is no other corporate development that may account for the trading activity.

 

2.Other than the above, we are not aware of any rumour or report concerning the business and affairs of the Company that may account for the trading activity.

 

3.We are not aware of any other possible explanation to account for the trading activity.

 

4.The Company is in compliance with Rule 9.03 of the ACE Market LR. The Company will make the relevant announcements in compliance with the ACE Market LR in the event of any material development pertaining to the above.

 

This announcement is dated 20 November 2020.


Announcement Info

Company Name SAMAIDEN GROUP BERHAD
Stock Name SAMAIDEN
Date Announced 20 Nov 2020
Category General Announcement for PLC
Reference Number GA1-20112020-00117


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