Wednesday August 29, 2012
Ingenuity says not in talks with any party regarding takeover
PETALING JAYA: ACE Market-listed Ingenuity Solutions Bhd has come forward to clarify that it is currently not involved in any discussion related to an intention of a party to take over the company.
This was in response to a report that appeared in StarBiz on Tuesday that said Ingenuity might be taken over by Ninetology Marketing Sdn Bhd.
Ninetology is an Asean mobile device technology company and has been in the industry for a decade, with accumulated expertise and innovation in driving versatile IT systems.
“Ingenuity has made due inquiry from its board of directors and major shareholder and wish to clarify that none of the directors and major shareholder are in any discussion or have any intention whatsoever to take over the company.
“However, Ingenuity will make the necessary announcement if the company is aware of any development in relation to the above,” it said in a filing with Bursa Malaysia.
The counter’s trading was halted for an hour yesterday, from 2.47pm to 3.47pm. Ingenuity closed 9 sen lower to 35 sen.
The company was in the news recently due to the sharp rise in the price and trading volume of its securities and had received unusual market activity (UMA) queries from Bursa.
The latest UMA query was last week and that was the third UMA query this year for the IT solutions provider, after queries issued on Aug 15 and March 22.