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Unusual Market Activity

BackJul 11, 2014
Type Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID CY-140711-34166
Subject UNUSUAL MARKET ACTIVITY
Description BHS INDUSTRIES BERHAD (“BHS”, “Company”, OR “Group”)
REPLY TO QUERY DATED 11 JULY 2014
Query Letter Contents We draw your attention to the rise in price of your Company’s securities
recently.

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




SUZALINA HARUN
Vice President, Issuers
Listing Division
Regulation

/WCY

We refer to the letter from Bursa Malaysia Securities Berhad (“Bursa”) dated 11 July 2014 titled Unusual Market Activity and after making due enquiry with the directors, major shareholders and other relevant persons, our response to the queries raised are as follows:

1. The Board of Directors and major shareholders of the Company wish to confirm that there is no corporate development relating to the Group’s business and affairs that have not been previously announced that may account for the trading activity including those in the stage of negotiation and discussion.

However, the Board wishes to refer to the Circular To Shareholders dated 3 July 2014 in which the Company would be able to obtain RM9 million if the shareholders approved the Proposed Disposals as set out in the said Circular.  The proceeds arising from the Proposed Disposals have been earmarked to part or to finance potential acquisition/investments in businesses when the opportunity arises for future business expansion.

2. The Board of Directors and major shareholders are not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activities.
 
3. There have been recent changes in the substantial shareholders of the Company.  The Board is of the view that this may have encouraged the trading activities of the Company which give rise to the movement in the share prices.

4. The Board of Directors confirms that the Company is in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.

 


Announcement Info

Company Name BHS INDUSTRIES BERHAD  
Stock Name BHS    
Date Announced 11 Jul 2014  
Category General Announcement
Reference No CA-140711-A014B