4th Jun 2014 15:33
LONDON (Alliance News) - Black Sea Property Fund Ltd Wednesday noted a jump in its share price and said that it knows no reason for the increase.
The fund's shares were up 19% on Wednesday to 1.46 pence per share.
The company, which is currently planning a winding up or disposal process, said it believes that the recent share price movement is 'exaggerated and unjustified' before noting that it continues to incur operating costs and will incur additional costs on a recently proposed return of capital and winding down process.
The company said on Tuesday that it planned to return GBP2.4 million to shareholders after the sale of its Evergreen land and Obzor sites.
By Tom McIvor; [email protected]; @TomMcIvor1
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