KUALA LUMPUR: Shares of K-Star Sports Ltd advanced in late afternoon trade on Monday, Dec 6 after it stated that it did not expect any impact after the expiry of the moratorium.
At 3.14pm, it was up four sen to 49.5 sen with 16 million shares done.
The China-based company, whose share price plunged last week over concerns about the expiry of the moratorium on Dec 3, said it did not expect any impact on the operation and financial conditions of the K-Star group.
The six-month moratorium was for the sale of its promoters' shares and the lock-up restriction on its pre-IPO investors.
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.
At 3.14pm, it was up four sen to 49.5 sen with 16 million shares done.
The China-based company, whose share price plunged last week over concerns about the expiry of the moratorium on Dec 3, said it did not expect any impact on the operation and financial conditions of the K-Star group.
The six-month moratorium was for the sale of its promoters' shares and the lock-up restriction on its pre-IPO investors.
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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