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SGX issues 'trade with caution' on United Envirotech

Thursday, October 30, 2014 - 09:32
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SINGAPORE Exchange (SGX) issued a "trade with caution" on United Envirotech Ltd on Thursday morning, following a 13.5 per cent jump in its share price between Oct 28 and Oct 29.

SINGAPORE Exchange (SGX) issued a "trade with caution" on United Envirotech Ltd on Thursday morning, following a 13.5 per cent jump in its share price between Oct 28 and Oct 29.

The company, responding to SGX's query, said it was unaware of reasons that could explain the trading activity in its securities.

SGX said: "In view of the trading activities observed and the issuer's response, shareholders and potential investors should exercise caution when dealing in the securities."

United Envirotech had informed shareholders in the previous announcements since July that it had been approached about a potential acquisition of shares in the company.

In an update this month, it explained that discussions with these parties were ongoing and that there was no assurance that a definitive agreement or transaction would materialise.