Creative shares jump 24% in afternoon trade, prompting SGX query

Shares of Creative Technology surged as high as 24 per cent on Oct 25 morning, which prompted a query from the Singapore Exchange.
Shares of Creative Technology surged as high as 24 per cent on Oct 25 morning, which prompted a query from the Singapore Exchange.PHOTO: SCREENGRAB FROM SG.CREATIVE.COM

SINGAPORE - Shares of Creative Technology surged as high as 24 per cent or 68 cents to $3.52 on Friday afternoon (Oct 25), after staying largely flat on Friday morning.

The "unusual price movement" prompted a query from the Singapore Exchange (SGX).

The multimedia company had on Thursday evening responded to a separate SGX query on the proposed re-election of its director Ng Kai Wa, and the company's compliance with Listing Rule 720(6). The rule states that listed firms must provide information relating to the candidate in the notice of meeting, annual report or relevant circular distributed to shareholders prior to a general meeting.

Creative provided the relevant information in its response to SGX on the re-election of its director.

Its shares were up 66 cents or 23.2 per cent to $3.50 as at 4.03pm.