Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 23 Oct 2015
Category: General Announcement for PLC
Reference Number: GA1-23102015-00075
Reference is made to the letter dated 23 October 2015 (ref.: IQL-23102015-00001) from Bursa Malaysia Securities Berhad (“Bursa Securities”) regarding to the rise in price of the Company’s shares today (“trading activity”). The Board of Directors (“Board”) of Kobay Technology Bhd. (“Kobay” or “the Company”) would like to confirm that to their best of their knowledge and after due enquiry on the matter with its Directors and major shareholders, the Board is not aware of any of the following that may have contributed to the said trading activity :-
1. any corporate development relating to Kobay Group’s business and affairs that has not been previously announced that may account for the trading activity;
2. any rumour or report concerning the business and affairs of Kobay Group that may account for the tradiing activity; and
3. any other possible explanation to account for the trading activity,
save and except for the following :-
In mid October 2015, a wholly owned subsidiary of the Company received a Letter of Intent from a prospective buyer to acquire a parcel of vacant land in Penang owned by the said subsidiary, measuring approximately 1.54 acres. The terms and conditions of the Letter of Intent were not agreeable by the said subsidiary and the parties are in the midst of negotiating the terms and conditions of which have not been finalized at this juncture. The Company will make the necessary announcement(s) of any material information and development on the land transaction in compliance with the Bursa Securities Listing Requirements.
Further, the Board wishes to confirm that the company is in compliance with Paragraph 9.03 of Bursa Securities Listing Requirements.
This announcement is dated 23 October 2015.