Letter Subject Or Reference - Unusual Market Activity
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-11012024-00001 |
| Subject | Letter Subject or Reference - UNUSUAL MARKET ACTIVITY |
| Description | YNH PROPERTY BHD ("YNH" or "the Company") - UNUSUAL MARKET ACTIVITY |
| Query Letter Contents |
We draw your attention to the sharp fall in price 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 :
Yours faithfully, Bursa Malaysia Securities Berhad |
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The Board of Directors (“Board”) of YNH Property Bhd (“YNH” or “the Company”) refer to Bursa Malaysia Securities Berhad’s (“Bursa Securities”) Unusual Market Activity query dated 11 January 2024 in relation to sharp fall in price of the Company’s shares recently (“trading activity”) and wishes to confirm that to the best of their knowledge and after having made due enquiries with the Directors, major shareholders and such other relevant persons, the following:
(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;
The management is currently considering proposals to sell certain landed properties of the Company and its subsidiaries (“the Group”). However, these proposals are still under discussion. The Board considers that it would be more appropriate to release announcement(s) to Bursa Securities once the terms of the offers have been finalised and agreed to by both parties.
Save for this, the Board is not aware of any 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.
(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;
The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activity.
(3) Whether you are aware of any other possible explanation to account for the trading activity; and
The Board is not aware of any other possible explanation to account for the trading activity.
(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.
The Group and the Board are in compliance with the Main Market Listing Requirements (“LR”) of Bursa Securities, in particular Paragraph 9.03 of the LR of Bursa Securities on immediate disclosure obligations.
This announcement is dated 12 January 2024. |
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Announcement Info
| Company Name | YNH PROPERTY BERHAD |
| Stock Name | YNHPROP |
| Date Announced | 12 Jan 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11012024-00060 |