KUALA LUMPUR: Trading in the shares of Sanichi Technology Bhd was suspended from 3.12pm yesterday and will resume today.
The company was queried by Bursa Malaysia yesterday over the unusual market activity in the trading of its shares.
In its response, Sanichi said: “After having made due enquiries with the directors and major shareholders, the company wishes to advise that, to the best of their knowledge and belief, the directors and major shareholders are not aware of any of the following that may have contributed to the unusual market activity.”
The company later confirmed that Projektarbelt Technische Beratung Venretung International (Protev) has completed its first phase of due diligence of Sanichi and was expected to conclude phase two early 2012.
The shares rose 0.5 sen to nine sen with 81.29 million units done before trading was suspended.
On Aug 4, Sanichi said Protev had started its due diligence amid market talk that Protev could be keen to take a major stake in the ACE Market-listed company.
It had on June 8 said it had signed a memorandum of understanding with Protev.
This article appeared in The Edge Financial Daily, November 9, 2011.
The company was queried by Bursa Malaysia yesterday over the unusual market activity in the trading of its shares.
In its response, Sanichi said: “After having made due enquiries with the directors and major shareholders, the company wishes to advise that, to the best of their knowledge and belief, the directors and major shareholders are not aware of any of the following that may have contributed to the unusual market activity.”
The company later confirmed that Projektarbelt Technische Beratung Venretung International (Protev) has completed its first phase of due diligence of Sanichi and was expected to conclude phase two early 2012.
The shares rose 0.5 sen to nine sen with 81.29 million units done before trading was suspended.
On Aug 4, Sanichi said Protev had started its due diligence amid market talk that Protev could be keen to take a major stake in the ACE Market-listed company.
It had on June 8 said it had signed a memorandum of understanding with Protev.
This article appeared in The Edge Financial Daily, November 9, 2011.
