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Letter Subject or Reference - UNUSUAL MARKET ACTIVITY

TRANSOCEAN HOLDINGS BHD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-06042022-00001
Subject Letter Subject or Reference - UNUSUAL MARKET ACTIVITY
Description
TRANSOCEAN HOLDINGS BHD ("THB" or "the Company") 
UNUSUAL MARKET ACTIVITY
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.

 

Yours faithfully,

Bursa Malaysia Securities Berhad

Reference is made to the letter from Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 6 April 2022 pertaining to the sharp rise in price and volume of the Company’s shares recently (“trading activity”).

 

After having made due enquiry with the Board of Directors (“Board”), major shareholders of the Company and such other relevant persons, our reply to the query by Bursa Securities are as follows:

 

1)  A major shareholder of THB had recently explored proposals, which could facilitate to drive the business segments of THB. However, discussions were still preliminary and the said major shareholder had decided not to proceed further with any of the proposals for the time being;

 

2) Other than the above, the Board is not aware of any rumour or report concerning the business and affairs of THB that may account for the trading activity;

 

3) Other than the above, the Board is 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 LR of Bursa Securities, in particular Paragraph 9.03 of the LR on immediate disclosure obligations.

 

This announcement is dated 7 April 2022.

 





Announcement Info

Company Name TRANSOCEAN HOLDINGS BHD
Stock Name TOCEAN
Date Announced 07 Apr 2022
Category General Announcement for PLC
Reference Number GA1-06042022-00049




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