UMS Holdings

[Boon]

I got the same written reply from their IR too.
I know there will be people sceptical of their standard reply..but it is the best answer now unless Andy himself says something...right?

The IR, being an Agent to its Principal (UMS), has made a representation that:

“ the business of UMS is as per normal and there is no material impact to its fundamentals”

Under the doctrines of Law of Agency – the Principal is bound by the agent's actions on the basis of “apparent authority”, even if “actual authority”, whether express or implied, has not been given.

No one is sure if the company would issue a clarification – if no further announcement is made by the company to confirm or rectify its agent's representation , IMO，one could treat the reply from its IR as if it is issued by the Company.

(vested)