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UMA Damansara Realty says unaware of reasons over share price hike; price drops at noon

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UMA Damansara Realty says unaware of reasons over share price hike; price drops at noon Empty UMA Damansara Realty says unaware of reasons over share price hike; price drops at noon

Post by Cals Fri 11 Apr 2014, 01:28

UMA Damansara Realty says unaware of reasons over share price hike; price drops at noon
Business & Markets 2014
Written by Ho Wah Foon of theedgemalaysia.com   
Thursday, 10 April 2014 14:15

KUALA LUMPUR (April 10): Damansara Realty Bhd, in reply to Bursa Malaysia’s query on unusual market activity (UMA), said it was unaware of any corporate development or rumour that had sent its share price sharply up except for recent announcements.

The share price of the company had risen sharply this year, from 40 sen in early January to RM1.34 yesterday. But after the UMA was slapped on the property firm yesterday, share price of Damansara Realty fell 3 sen or 2% to RM1.31 at noon break today.

“The board wishes to confirm that the company is in compliance with the Bursa Securities Listing Requirements on immediate disclosure obligations,” it said in its reply to the UMA slapped on it yesterday.

It noted that the latest corporate developments made were in respect of the proposed acquisition of 157,780,000 shares in Damansara Realty, representing 51% of its equity, by Seaview Holdings Sdn Bhd from Johor Corporation and its relevant subsidiaries.
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