General Announcement::SGX RegCo issues Trade with Caution alert on shares of 9R Limited

Issuer & Securities

Issuer/ Manager
9R LIMITED
Securities
9R LIMITED - SGXE45420721 - 1Y1
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
13-Nov-2024 17:19:32
Status
New
Announcement Sub Title
SGX RegCo issues Trade with Caution alert on shares of 9R Limited
Announcement Reference
SG241113OTHR9GH7
Submitted By (Co./ Ind. Name)
SINGAPORE EXCHANGE REGULATION PTE. LTD.
Designation
SURVEILLANCE
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange Regulation ("SGX RegCo") urges investors and potential investors to exercise caution when dealing in shares of 9R Limited ("9R").

The price of 9R shares rose from the closing price of $0.039 on 4 June 2024 to $0.058 on 14 August 2024 (representing a rise of $0.019 or 48.7%). During this period, the FTSE Catalist Index fell 5.38 points or 3.2%. On 14 August 2024 after market close, 9R announced its half yearly results, recording a loss for the period and negative cash flows from operating activities. However, the price of 9R shares remained steady around $0.058 from 15 August till 8 November 2024.

SGX RegCo's review of the trading activities between 4 June and 8 November 2024 showed that trades by a few trading accounts accounted for about 85% of the buy trades. Initial findings show that multiple clients were behind each account and most of these clients appear to be connected.

SGX RegCo continues to review and monitor trades in 9R shares and will take all necessary actions including referring the case to statutory authorities where warranted.