We know why our shares are up, ComOps says after copping speeding ticket
ComOps has responded to a query from the ASX, saying it knows why its shares surged in the last two days.
The market operator sent the workforce management service provider a “speeding ticket” on Friday, asking why its shares bounced 30 per cent from 1.3c to 1.7c.
Many such ASX queries are answered by companies with an “I don’t know”.
But ComOps (ASX:COM) said it’s in talks with a possible customer. It has been named as a preferred bidder in a tender process.
“The contract with this new customer may be material in size,” it said.
“These negotiations are ongoing and as such, there is no certainty of value or when these negotiations will be concluded.”
It says it’s too early to say anything more about the talks.
ComOps also suggested a positive corporate presentation issued on May 7 might have had something to do with the positive light investors are seeing around the company.
ComOps shares have been on a tear since mid-April, rising from 0.7c a month ago to 1.6c on Monday morning.