SINGAPORE (Oct 21): Mirach Energy says it is unaware of any information not previously announced to explain the heavy trading on Friday that caused its share price to spike on Oct 18.
The firm, which is also currently on the SGX watchlist, saw its share price surge 38.9% within the span of half an hour on Friday afternoon, with some 776,000 shares changing hands during the day.
This had prompted a query from the market regulator, calling for the company to declare any information regarding the ‘unusual’ share price movements.
See: Mirach Energy triggers SGX query after shares surge 39%
Mirach Energy also said that it was not aware of any other possible explanation – including the circulation of rumours or reports – that could explain the surge.
It also confirmed its compliance with the listing rules, in particular Mainboard Rule 703, which requires issuers to announce any known information concerning it or any of its subsidiaries or associated companies.
Mirach Energy will hold an extraordinary general meeting (EGM) on Oct 29 for shareholders to vote for the proposed change of the group’s auditors to BDO, from the current Ernst and Young.
As at 11.24am, shares in Mirach energy are trading 2.5 cents lower, or 10% down, at 22.5 cents.
