Ecowise issues answers to SGX queries

SGX probes the fat increases in share volumes.

According to an SGX release, Ecowise said that it is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which may explain for the trading activity.

"Generally, the Company has been from time to time in negotiations with various parties in relation with potential investments and mergers and acquisitions. Currently, the Company is exploring the possibility of acquiring an environmental solutions plant (the “Potential Acquisition”). However, no negotiation is finalised at this moment.

As and when any negotiation materialises, the Company will make the necessary announcements. If materialised, the Potential Acquisition may be classified as a major transaction requiring shareholders’ approval, pursuant to the provisions of the Listing Manual of the Singapore Exchange Securities Trading Limited.
Shareholders and potential investors are advised to continue to exercise caution when dealing in the Company's shares," it added.

It also admitted that the Company is not aware of any other possible explanation to the above probe, and it confirms that it is in compliance with the listing rules and, in particular, listing rule 703.