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NetScientific unaware of any reason behind recent share price jump

The company is currently trying to reduce its costs “significantly” in order to invest as much of its remaining cash as possible into its portfolio companies
Scientist
NetScientific invests in medical and healthcare businesses

NetScientific PLC (LON:NSCI) has said it is unaware of any reason behind a 247% surge in its share price on Wednesday to 12.5p.

The medical research investor added that despite the increase the shares were still at discount to their price prior to 20 December when it announced a strategic review that included options to delist from AIM and taking the company private, although at the start of March the firm said more than 30% of shareholders indicated they would vote against these options.

READ: Netscientific expects shareholders to reject plan to delist from AIM and become private company

The company is currently trying to reduce its costs “significantly” in order to invest as much of its remaining cash as possible into its portfolio companies.

In early trading Thursday, shares were up 13.6% at 14.2p.

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