Adairs (ASX:ADH) received a price query from the ASX due to unusual trading activity. The company's share price rose from $2.03 to $2.40 with increased volumes. Adairs stated it was unaware of any undisclosed information influencing this change.
Adairs received a query from the ASX about unusual trading activity. The company assured it was unaware of any undisclosed information that could explain the price rise from $2.03 to $2.40. Adairs linked the activity to its FY24 results and increased institutional interest. It confirmed adherence to ASX Listing Rules and mentioned an upcoming AGM on October 25, 2024, for a trading update. Adairs also detailed procedural steps taken, including pre-release review by the ASX and potential trading halt considerations.
Adairs attributes the heightened trading activity to increased interest following the release of its FY24 results and notes a rise in institutional investor interest compared to previous years. The company remains compliant with ASX Listing Rules and its board has approved the response.