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UMA EKA Noodles gets UMA query on recent share volume surge

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UMA EKA Noodles gets UMA query on recent share volume surge

Post by Cals Mon 18 Apr 2016, 21:04

UMA

[size=28]EKA Noodles gets UMA query on recent share volume surge

By Sangeetha Amarthalingam / theedgemarkets.com | April 18, 2016 : 7:56 PM MYT

KUALA LUMPUR (April 18): Noodles producer EKA Noodles Bhd has been issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd for the recent surge in the volume of its shares. EKA recently received an UMA query on March 22 for share price and volume spike.

At closing, it fell 2.5 sen or 16.7% to 12.5 sen after rising to an intraday high of 15 sen with 115.2 million shares traded for a market capitalisation of RM39 million. Year to date, EKA shares have increased 19.05%.

In a filing with the local exchange, EKA was asked whether there is any corporate development including those in the negotiation or discussion stage that has not been announced that might account for the trading activity.

Bursa Securities also questioned if there was any rumour or report concerning the business and affairs of the group, if it was aware of any other possible explanation and if it was in compliance with the bourse' listing requirements.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
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