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Letter Subject or Reference - UNUSUAL MARKET ACTIVITY

YGL CONVERGENCE BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-25062024-00002
Subject Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Description
YGL CONVERGENCE BERHAD ("YGL" OR "COMPANY")
- Reply to the letter from Bursa Malaysia Securities Berhad dated 25 June 2024
Query Letter Contents

We draw your attention to the sharp rise in price and volume of your Company’s shares today (“trading activity”).
In light of the above and in order for investors to be able to make informed investment decisions, you are requested to respond, after making due enquiry with your directors, major shareholders and such other relevant persons, to the following queries immediately for public release in accordance with paragraph 9.11 of Listing Requirements :

1. Whether there is any corporate development relating to your 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. If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions;
2. Whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity and in this respect, you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities LR;      
3. Whether you are aware of any other possible explanation to account for the trading activity; and       
4. Whether you are in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa securities LR on immediate disclosure obligations.
Please note that the contents of the announcement must be endorsed by the Board of Directors of the Company and the announcement must reach Bursa Securities immediately via Bursa LINK.

We refer to the letter dated 25 June 2024 (Ref: IQL-25062024-00002) from Bursa Malaysia Securities Berhad (“Bursa Securities”) regarding the recent rise in price and volume of the shares of YGL (“Unusual Market Activity”).

 

The Board of Directors (“Board”) of YGL would like to confirm that to their best of its knowledge and after due enquiry with its Directors and major shareholders, the Board is not aware of any of the following that may have contributed to the Unusual Market Activity: -

 

(1)     Any corporate development relating to YGL Group’s business and affairs that has not been previously announced that may account for Unusual Market Activity including those in the stage of negotiation/discussion;

 

(2)     Any rumour or report concerning the business and affairs of YGL Group that may account for the Unusual Market Activity; and

 

(3)     Any other possible explanation to account for the Unusual Market Activity.

 

The Company also confirms that, to the best of its knowledge and belief, it is in compliance with the ACE Market Listing Requirements (“LR”) in particular Rule 9.03 of the LR on immediate disclosure obligations for any material information.   

 

This announcement is dated 25 June 2024.





Announcement Info

Company Name YGL CONVERGENCE BERHAD
Stock Name YGL
Date Announced 25 Jun 2024
Category General Announcement for PLC
Reference Number GA1-25062024-00072



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