| Description | The Board of Stone Master Corporation Berhad ("the Company") wishes to refer to the Letter from Bursa Malaysia Securities Berhad ("Bursa Securities") dated 1st August 2014 in respect to query by the Bursa Securities on the unusual market activity in relation to the sharp rise in the price of the Company's securities.
On behalf of the Company, the Board would like to inform the Bursa Securities that to the best of their knowledge and after making due inquiry with the Directors, the major shareholders and such other relevant persons of the Company, and after seeking their views on the matter that is the subject of the query, the Board of Directors of the Company is not aware of any of the following that may have contributed to the unusual market activity as follows :
1. The Board is not aware of any corporate development relating to the Group's business and affair that has not been previously announced that may account for the trading activity including those in the stage of negotiations/discussions. The Board wishes to inform that the Company is currently in the midst of undergoing a proposed Corporate exercise of which Bursa Securities has given their approval to the Company on 23rd July 2013 on the Company's Listing Application in relation to the Proposed Share Capital Reductionm, Proposed Rights Issue with Warrants, Proposed Increase in Authorised Share Capital and Proposed M&A amendments ("Collectively known as "the Proposal") of which the relevant and respective announcements have accordingly been made to the Bursa Securities by our appointed Adviser, RHB Investment Bank Berhad.
2. The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the unsual market or trading activity.
3. The Board is not aware and presently, there is no other possible explanation to account for the unusual market or trading activity;
4. The Board is in compliance with the Bursa Securities' LR, in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.
This Announcement is dated 1st August 2014.
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| Query Letter Contents | We draw your attention to the sharp rise in price of your Company’s securities.
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
decision;
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
KHOO KAY KWAN
Vice President, Issuers
Listing Division
Regulation
/WCY |
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