Bursa Securities queries DVM Tech

KUALA LUMPUR: Bursa Malaysia Securities Bhd has queried DVM TECHNOLOGY [] BHD [] over the sharp increase in price and volume of its shares recently.

Bursa Securities said on Tuesday, Aug 2 that it had issued an unusual market activity (UMA) to DVM.

It directed the company to provide an announcement for public release after making due enquiry with the directors and major shareholders seeking the cause of the UMA.

DVM shares rose two sen to 25 sen with 44.50 million shares done.

Meanwhile, the FBM KLCI shed 3.16 points to 1,554.85. Turnover was 903.53 million shares done.

There were 307 gainers, 496 losers and 262 losers.

DVM Technology Berhad (the Company)

- Unusual Market Activity

We refer to the letter from Bursa Malaysia Securities Berhad (Bursa Securities)

dated 2 August 2011 querying the Company on an unusual market activity in

relation to the increase in price and high volume of trading of the Companys

shares.

The Board of Directors of the Company wishes to confirm that to the best of

their knowledge and after making due enquiry with the major shareholders

seeking their views on the matter and save and except for the announcement made

on 1 August 2011 pertaining to the intention of deal in shares during closed

period by Dato Goh Kian Seng, they are not aware of any of the following that

may have contributed to the unusual market activity:

1. any corporate development relating to the Groups business and

affairs that has not been previously announced that may account for the unusual

market activity including those in the stage of negotiation/discussion;

2. any rumour or report concerning the business and affairs of the

Group that may account for the unusual market activity; and

3. any other possible explanation to account for the unusual market activity.

The Company will make the necessary announcement to Bursa Securities of

material information, if any in compliance with Rule 9.03 of ACE Market Listing

Requirements of Bursa Securities.

This announcement is dated 2 August 2011. unaware wor......hlk to go in at preopening??? [You must be registered and logged in to see this image.] i will take at 901 if its clear [You must be registered and logged in to see this image.]

Noticed that it came down to 19 sen and then crept up to 22 sen and maintained there for over 40 minutes and that it exploded

The usual UMA always gets the same reply making us more confused