BRIEF-Eoh Holdings Says Drop In Share Price Was Triggered By Forced Sale Of Shares By Financial Institutions
Dec 11 (Reuters) - EOH Holdings Ltd:
* SAYS ‍ON DECEMBER 7, EXTRAORDINARY VOLUMES OF EOH SHARES WERE TRADED​
* BOTH HIGH VOLUMES AND SUBSTANTIAL DROP IN SHARE PRICE WAS TRIGGERED BY FORCED SALE OF SHARES BY FINANCIAL INSTITUTIONS AGAINST EQUITY FINANCED TRANSACTIONS
* CONFIRMS DIRECTORS AFFECTED DID NOT VOLUNTARILY SELL SHARES, BUT SALE WAS CAUSED BY MARGIN CALLS AGAINST THESE EQUITY FINANCED TRANSACTIONS​
* FORCED SALE OF SHARES BY FINANCIAL INSTITUTIONS AGAINST EQUITY FINANCED TRANSACTIONS TO VARIOUS INDIVIDUAL SHAREHOLDERS, INCLUDING TWO EOH DIRECTORS
* BEEN IN DISCUSSIONS ON SELL-BACK DEAL TO UNWIND ACQUISITION OF GRID CONTROL TECHNOLOGIES, FORENSIC DATA ANALYSTS, INVESTIGATIVE SOFTWARE SOLUTIONS
* IN VIEW OF ALLEGATIONS, APPOINTED EDWARD NATHAN SONNENBERGS INC TO CONDUCT A FULL FACT-FINDING REVIEW OF COMMERCIAL ACTIVITIES OF 3 COS
* ‍“IT WILL ACT AGAINST ANY IDENTIFIED WRONGDOING OR MISCONDUCT INVOLVING ANY INDIVIDUAL OR ENTITY”​ Source text for Eikon: Further company coverage: