SGX queries Magnus Energy on high trading activity

SINGAPORE Exchange (SGX) on Tuesday morning queried Magnus Energy Group on the unusual volume movement of its stock.

It asked if the company is aware of any explanation for the share movements, adding that this is the second query issued in the past three months.

As at 11.10am, Magnus Energy's counter was the most active stock with more than 504 million shares traded, even as there has been no change in price, which was S$0.001.

The previous trading query was issued in late August, where the group said the subscriber had given it a notice to exercise its rights to convert eight notes with an aggregate principal value of S$400,000 in accordance with the terms and conditions of the subscription agreement dated Sept 3, 2014.