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Plus SMS Holdings has assured the sharemarket it is meeting continuous disclosure rules, after the company's shares doubled in price on the NZX's alternative market in the first four days of the week.
NZX surveillance analyst Rowan Calvert wrote to the company querying its compliance with the disclosure rule, after its shares reached 15c yesterday, an 87.5 per cent increase since the close of business on Friday.
Plus SMS shares got as high as 16c during trading yesterday on the NZAX, although they closed down at 14c. In early trade today the shares were down a further 1.5c to 12.5c.
The company's shares were as high as 82c in November 2005. In September 2006 it admitted a number of its statements to the stock exchange had been "unrealistic".
- NZPA
