LONDON (Alliance News) - Hightex Group PLC said it sees no reason for the striking increase in its share price Thursday, saying it "believes this to be unjustified".
The company's shares closed up 27% Thursday at 0.2795 pence, making them the biggest gainers on AIM.
The engineering company, which designs, fabricates and installs large-area, cable-supported, lightweight membrane roofs and facades, noted references online ton an article in the Berliner Morgenpost newspaper, but said the article relates to a past contract.
In June, the company said that it is looking to strengthen its balance sheet, and potentially would identify a partner with "appropriate financial strength which would complement the well-recognised, innovative construction engineering skills for which [Hightex] is renowned."
Hightex has submitted tenders for several projects, it said in June, giving it cautious optimism for "one or more contract wins in the second half of 2014".
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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