Trilogy asked to explain weekend's share price jump
Trilogy International share price climbed 25% in just a few days.
Trilogy International has been asked by the New Zealand stock exchange to explain a large increase in its share price in just a few days.
The NZX issued a ‘please explain’ note to the skincare products and scented candle maker this afternoon, enquiring about a 25% increase from $1 at market close on April 10 to $1.25 this morning.
The stock exchange operator is concerned Trilogy has not complied with listing rule 10.1.1, which requires companies to immediately disclose any information that is material to share price.
In a reply to the NZX, Trilogy suggested the price increase was in response to an announcement it put out more than a month ago.
Trilogy chief executive Stephen Sinclair responded the company had provided a market update on March 11 about its earnings expectations for the 2015 year, and said it has complied with its continuous disclosure obligations.
In March, the company said annual profit will more than treble to over $4 million in the year to March 31 from $1.26 million a year earlier, thanks to improved earnings at its Australian unit and its Ecoya candle division makes money for the first time.
Annual revenue is expected to rise more than 18%, topping $35 million.
The company is currently finishing up its year end audit and intends to release its audited preliminary announcement before the end of May, Mr Sinclair says.
Its share price is back at $1.04 this afternoon.
Calida Smylie
Mon, 13 Apr 2015
Mon, 13 Apr 2015
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Trilogy asked to explain weekend's share price jump
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