New high for Dagang NeXchange Bhd
KUALA LUMPUR: SKH Consortium Bhd, whose share price has more than doubled in a span of two weeks, said it is not aware of the reason behind the sharp rise in both price and volume of its shares.
In a reply to Bursa Malaysia’s unusual market activity query, the information technology service provider (formerly The Media Shoppe Bhd) said it knew of no previously-unannounced corporate development after making due enquiry with the directors and major shareholder.
“The directors would draw attention to the recent announcement made on the new substantial shareholder named Fong Siling on April 6, 2017, with a shareholding of 5.41%. We are not aware of any other possible explanation to account for the trading activity,” SKH said.
Fong had acquired 30 million shares via the open market.
Earlier, on March 28, SKH executive director Datuk Low Liong Kian and director Tan Tzu Pin announced the disposal of their entire direct interests in Master Knowledge Sdn Bhd, the largest shareholder in SKH with a 29.6% stake.
The counter closed 1.5-sen higher at 15.5 sen per share on Frifday, with 204.96 million shares changing hands. The share price has surged 121% compared with the closing price of 7 sen two weeks earlier (Mon, March 27).
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