UMA EKA Noodles unaware of reason behind recent surge in share volume

by **Cals** Wed 20 Apr 2016, 01:40

UMA

[size=28]EKA Noodles unaware of reason behind recent surge in share volume

By Yimie Yong / theedgemarkets.com | April 19, 2016 : 6:28 PM MYT

KUALA LUMPUR (April 19): Noodles producer EKA Noodles Bhd, which has been issued an unusual market activity (UMA) query yesterday for the recent surge in its trading volume, said it is not aware of any factor that may have contributed to its unusual trading activity.

In its reply to Bursa Malaysia's UMA query today, EKA said it is not aware of any corporate development in relation to the group's business and affairs that have not been previously announced.

"The board was not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity," it said.

EKA has been issued an UMA query by Bursa yesterday 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.

Yesterday, EKA 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.

In a filing with the local exchange yesterday, 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.

Shares of EKA rose as much as 0.5 sen or 4% to reach an intraday high of 13 sen, before closing unchanged at 12.5 sen today, with 12.93 million shares traded. It has a market capitalisation of RM39 million.
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