KUALA LUMPUR: Bursa Malaysia Securities Bhd has issued an Unusual Market Activity (UMA) query to Paragon Union Bhd following a sharp fall in the company’s share price today.
At 4:41 pm, the group’s share price slipped by RM1.39, or 29.83 per cent, to RM3.27 from RM4.66 at Thursday’s close.
In a Bursa filing, the exchange advised investors to take note of the company’s response to the UMA query, which will be posted on Bursa Malaysia’s website under company announcements.
Bursa Malaysia said it requested Paragon Union to determine whether there were any undisclosed corporate developments, including those under negotiation or discussion, that could have contributed to the sharp movement in its share price.
The exchange also sought clarification on whether any rumours or reports concerning the group’s business and affairs may have influenced the trading activity, and whether the group was aware of any other factors that could have contributed to the sharp movement in its share price.
Additionally, Bursa Malaysia also requested confirmation that Paragon Union had complied with the Main Market Listing Requirements, particularly those relating to immediate disclosure obligations.
Bursa Malaysia added that the contents of the company’s response must be endorsed by Paragon Union’s board of directors before being submitted through Bursa LINK. – BERNAMA
