KUALA LUMPUR: K-Star Sports Ltd, whose shares plunged last week, said on Monday, Dec 6 it did not expect any impact after the expiry of the moratorium on the sale of its promoters' shares and the lock-up restriction on its pre-IPO investors.
The company said the expiry of the six-month moratorium on Dec 3 would not have any impact on the operation and financial conditions of the K-Star group.
K-Sports said the moratorium was imposed by the Securities Commission and this was disclosed in its prospectus dated May 11, 2010
'The board of directors of the company wishes to advise that there have been no material changes on the development in the operations of K-Star Group or any significant changes in the financial conditions of K-Star Group since the release of the 3Q2010 financial results for the period ended Sept 20, on Nov 19,' it said.
The company said the expiry of the six-month moratorium on Dec 3 would not have any impact on the operation and financial conditions of the K-Star group.
K-Sports said the moratorium was imposed by the Securities Commission and this was disclosed in its prospectus dated May 11, 2010
'The board of directors of the company wishes to advise that there have been no material changes on the development in the operations of K-Star Group or any significant changes in the financial conditions of K-Star Group since the release of the 3Q2010 financial results for the period ended Sept 20, on Nov 19,' it said.
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