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SGX has issued a query regarding trading activities on Innopac (SGX Symbol: I26).
7 January 2013
Stanley Chu Kam Po
Group Financial Controller/Secretary
Innopac Holdings Limited
190 Middle Road #19-07
QUERY REGARDING TRADING ACTIVITY
We have noted, and draw to your attention, a substantial increase in the price of your shares today. To ensure a fair, orderly and transparent market, please answer each of the following:
Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.
Question 2: Are you aware of any other possible explanation for the trading?
Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?
Please respond immediately via SGXNET. Where appropriate, you may want to request a trading halt or a suspension of trading. Please contact Securities Market Control (or, if you need to discuss the matter, your Account Manager in Issuer Regulation) immediately. Thank you for your cooperation.
We have released this letter via SGXNET.
Head, Market Surveillance
Risk Management & Regulation
1. Subject to limited exceptions in rule 703, an issuer must announce any information known to the issuer concerning it or any of its subsidiaries or associated companies which is necessary to avoid the establishment of a false market in the issuer's securities, or would be likely to materially affect the price or value of its securities must be publicly disclosed (rule 703).
2. An issuer must undertake a review to determine the causes of any unusual trading activity (paragraph 20 of Appendix 7.1).
3. An announcement should, among other things, state whether the issuer or any of its directors are aware of the reasons for the unusual trading activity and whether there is any material information which has not been publicly disclosed (paragraph 31 of Appendix 7.1).
4. Your responsibility under listing rules is not confined to, or necessarily satisfied by, answering the questions in this letter.
While reasonable efforts have been taken to ensure that the calculations performed by the features of this site are reliable, the features are provided on the basis that:-