Silver Ridge Says No Undisclosed Developments Behind Share Price Drop

KUALA LUMPUR, June 29 (Bernama) -- Silver Ridge Holdings Bhd (SRHB) said it is not aware of any undisclosed corporate developments, rumours or other factors that could explain the sharp decline in its share price, following an unusual market activity (UMA) query from Bursa Malaysia.

In a filing with Bursa Malaysia today, the ACE Market-listed company said its board had made due enquiries with its directors, major shareholders and other relevant parties in response to the regulator's query issued on June 29.

The telecommunication infrastructure installer said that to the best of the board's knowledge, there are no corporate developments relating to the group's business and affairs that have not been previously announced which may have contributed to the trading activity.

The company noted that apart from the resignation of its three executive directors announced on June 26, it is not aware of any ongoing negotiations or discussions involving material corporate developments.

It also said it is not aware of any rumours or reports concerning the group's business and affairs, nor any other possible explanation for the sharp fall in its share price.

At 2.13 pm, Silver Ridge’s share price fell 4.5 sen to 14 sen with 27.18 million shares traded.

-- BERNAMA