KUALA LUMPUR: Cypark Resources Bhd, which received an unusual market activity (UMA) query from Bursa Malaysia earlier, said it is unaware of any reason for the sharp rise in its share price and trading volume recently.
Cypark closed one sen lower at RM1.03 with 29.95 million shares done. The counter has risen over 98% so far this year.
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In a reply to the UMA query, Cypark said it 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.
“The board is not aware of any possible explanation to account for the trading activity, other than the recent completion of the company's private placement exercise and emergence of a new substantial shareholder, Jakel Capital Sdn Bhd, which may have increased the confidence among the investors,” it said.
