New Silkroutes responds to SGX trading query

NEW Silkroutes Group said on Tuesday it is not aware of any information not previously announced that triggered the unusual movements in its shares.

In response to Singapore Exchange's (SGX) query earlier in the day, the group said that in the interest of providing full disclosure to the public and after exploring possible explanations for the trading, it intends to release the announcement of its full-year financial results after trading hours on Tuesday.

There will also be a media release on the group's oil and gas unit's performance before trading hours on Wednesday.

"Further to the above and as previously disclosed in the announcement released on Aug 5, 2016, in response to SGX's query regarding its trading activity, the company constantly reviews options and explores opportunities to enhance shareholders' value as part of the group's strategy."

It highlighted that so far, "no definitive agreement has been entered into in respect of any business opportunities currently being considered by the company".

"There remains no assurance or certainty that any transaction or agreement will materialise. The company wishes to reassure its shareholders that, if and when any definitive agreement is reached, the company will promptly issue the appropriate announcement," the group said.