General Announcement – Letter Subject or Reference – UNUSUAL MARKET ACTIVITY
MICROLINK SOLUTIONS BERHAD
|Type||Reply to Query|
|Reply to Bursa Malaysia’s Query Letter – Reference ID||IQL-14072020-00001|
|Subject||Letter Subject or Reference – UNUSUAL MARKET ACTIVITY|
|Description||MICROLINK SOLUTIONS BERHAD
– UNUSUAL MARKET ACTIVITY (“UMA”)
|Query Letter Contents||We draw your attention to the sharp rise in price and volume of your Company’s shares recently (“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.
Bursa Malaysia Securities Berhad
Reference is made to the letter from Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 14 July 2020 pertaining to the sharp rise in price and volume of the Company’s shares recently (“trading activity”).
In accordance with Rule 9.11 of the ACE Market Listing Requirements (“AMLR”) of Bursa Securities, Microlink Solutions Berhad (“Microlink” or “the Company”), after making due enquiry with the Board of Directors (“Board”) and major shareholders of the Company and to the best of their knowledge, wish to inform that as at todate:-
1. The Group has been continuously on the lookout for opportunities to expand its core businesses to enhance the Group’s earnings and improve its financial performance.
In addition, the Group is currently in the final stage of negotiation for a potential joint venture with another company.
The Group will make the relevant announcements in accordance with the AMLR of Bursa Securities in the event of any material development pertaining to the above.
2. Other than the above, we are not aware of any rumour or report concerning the business and affairs of Microlink Group that may account for the trading activity;
3. Other than the above, we are not aware of any other possible explanation to account for the trading activity; and
4. The Company and the Board are in compliance with the AMLR of Bursa Securities, in particular Rule 9.03 of the AMLR on immediate disclosure obligations.
This announcement is dated 15 July 2020.